CHALLENGES AND DIFFICULTIES FOR MICRO-BUSINESSES IN ADAPTING IFRS FOR SMES REQUIREMENTS: KOSOVO EVIDENCE

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Esat A. Durguti
Erëza A. Arifi

Abstract

Small and medium-sized enterprises (SMEs) have a vital position in the international economy. The study aims to examine the compulsory financial reporting requirements set by the Kosovo Council for Financial Reporting (KCFR) as well as SMEs requirements for reviewing the current classification in the Kosovo context. This study, like most relevant studies, employs ordinal probit regression to examine the relationships among the requirements defined as dependent variables and other control variables such as necessary reclassification review under KCFR, preferred reclassification review under KCFR, experience knowledge of accountants and auditors, continuously education concerning financial reporting, and assessments of business owners. According to the reported conclusions, the application of these requirements in the Kosovo context does not create any opportunities for SMEs. On the contrary, the findings point to a thorough review of the reporting requirements for micro-businesses, as the current classification appears to be a burden for these businesses.   

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How to Cite
Durguti, E. A. ., & Arifi, E. A. . (2021). CHALLENGES AND DIFFICULTIES FOR MICRO-BUSINESSES IN ADAPTING IFRS FOR SMES REQUIREMENTS: KOSOVO EVIDENCE. Journal of Liberty and International Affairs, 7(3), 85-101. https://doi.org/10.47305/JLIA2137085d
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Author Biographies

Esat A. Durguti, University “Isa Boletini”, Faculty of Economy - Mitrovica, Kosovo

Esat A. DURGUTI completed his doctoral studies at the Faculty of Economics, at the University of Tirana in the Department of Finance. He started his professional career within the Faculty of Economics, at the University of Prishtina as a demonstrator from 2000-2002, on March 1, 2002, he started working at the Central Bank of Kosovo until September 2005, then continuing in commercial banks. In March 2009, he started working as a Lecturer within the College of International Management - GLOBUS. In October 2016, he was hired as a full-time Professor at the Faculty of Economics, at the University Isa BOLETINI - Mitrovica. On November 23, 2016, he was elected to the academic title Assistant Professor PhD. for the subjects: Financial Management, Financial Markets, and Institutions, Taxes and Corporations as well as Risk Management and Insurance. On November 27, 2020, he was elected to the academic titleAssociate Profesor PhD. for the subjects: Financial Management, Financial Markets and Institutions, Financial Accounting, Tax Accounting, and Risk Management and Insurance. The author has so far published seven (12) scientific papers with international review as the first author, as well as five (9) scientific papers as co-author with the international review.

Erëza A. Arifi, College for International Management - Prishtina, Kosovo

Erëza ARIFI completed her doctoral studies at the Faculty of Economics, at the University of Tirana in the Department of Finance.She started her professional career in the teaching process in 2018, at the College of International Management - GLOBUS and there she earned the academic title of Assistant Professor PhD. in the subjects: Corporate Finance, Banking Management, and Public Finance. Mrs. ARIFI has shown professional skills in other government institutions, where she was the Manager of the Procurement Department within the Ministry of Infrastructure from 2010 to 2018. She has a considerable number of scientific publicationsinternational reviews, mainly in the field of finance.

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