Challenges Faced by SME Companies in Integration IFRS in Turkey - Accounting and Finance Assignment Help

Assignment Task:

Introduction 
IFRS stands for International Finance Reporting Standards where these are defined as the set of standards in accounting which have been by one of the organisation named as the International Accounting Standards Board which is a not for profit company. The standards apply to a number of companies that operate in the industrial, commercial and financial sector. The implementation of IFRS provides a number of benefits to companies where it helps the company to enjoy greater operational and the financial transparency (Nasution et al., 2018). Along with this, the implementation of various standards that fall under the IFRS helps the companies to compare the performance and health of one company with that of the other so that better decisions regarding investment can be made. Along with the above highlighted benefits, IFRS has also offered some of the key challenges and difficulties for some company specifically the ones that operate in the Small and Medium sector. These companies fall in the category of small and medium scale companies due to the number of people working in the companies fall below certain limit (Chen & Gavious, 2017). The research will undertake the analysis to highlight the challenges that are faced by the small and the medium scale companies in the integration of IFRS in Turkey.  

Research aim 
The research aims to highlight the challenges that are faced by the Small and Medium Enterprises companies in integration IFRS in Turkey.  

Research objectives  
The research has some of the key objectives that are as follows: 
1. To evaluate the concept of IFRS (International Finance Reporting Standards) 
2. To understand the integration of IFRS in Turkey 
3. To determine the key challenges that are faced by Small and medium companies from integration of IFRS 

Research questions  

The research has some of the following questions: 

Question 1. 
What is IFRS (International Finance Reporting Standards)? 

Question 2. 
What is the integration of IFRS in Turkey? 

Question 3. 
What are the key challenges that are faced by Small and medium companies from integration of IFRS? 

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