engleski

Financial Accounting for SMEs in Croatia

This paper presents the most significant characteristics of financial accounting in Croatia. It is well known that financial accounting is oriented to external users which are interested in main outputs of financial accounting - for financial statements. For that reason financial accounting is regulated with law legislative to unify rules for each entity that is obligatory to make financial statements. Authors show short overview on historical development of legislative of financial accounting from the beginning of independence of Croatia to the last change of Law of accounting. Different countries use differ rules and standards that refer financial accounting for SMEs. These rules comprises not only Law of accounting, but also other laws, financial reporting standards, accounting principles, code of professional ethics etc. Paper considers the Croatian case and authors use comparative methods to find out the best financial accounting solution for SMEs.

financial accounting; historical development; financial reporting standards

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