تغییرات قانون گذاری حسابداری
Abstract
1-Introduction
2-Accounting legislation in Croatia before and after the European Union accession
3-Particularities of the micro, small and medium-sized entities
4-Classification of companies in the European Union and Croatia
5-Analysis of changes in number of companies related to the criteria of size classification
6-Conclusion
Acknowledgements
References
Abstract
In order to completely adjust to the European Union’s accounting legislation, from January 2016 new Accounting law will bring certain changes in Croatian accounting system. Noticeable change is a new size classification system which includes microentities. By adopting new classification system in Croatia, total number and proportion of large companies decreased, and the number of medium-sized companies increased by widening the range thresholds. Nevertheless, as expected, the greatest proportion of companies in Croatia will be micro-entities.
Introduction
In the European Union Member states micro, small and medium-sized companies (SMEs) represent the nucleus of business and economy environment, making more than 99% of total number of companies. Within the SMEs segment micro-entities have the largest proportion which represent the simplest form of business, in most cases poorly diversified, and limited in context of development, interest of stakeholders, organizational structure, and management strategy. Those companies are often deprived from an aspect of financing possibilities. The European Union is aware of the importance of those companies which represent ‘the backbone of Europe’s economy’. The European Commission considers SMEs as “key to ensuring economic growth, innovation, job creation, and social integration in the EU” (The European Commission, 2015). In 2006 the Commission initiated simplification of accounting and auditing for SMEs. The initiation resulted with the elaborate which includes synthesis of the received reactions where five different measures had been identified in the communication with the aim of reducing the administrative burdens, notably for small and medium-sized entities: (1) introduction of ‘micro-entities’, (۲) trespassing the thresholds for SMEs, (3) relief from publication requirement for small entities, (4) extension of exemption for companies without particular external user, (5) simplification for all companies (European Commission, Synthesis of the reactions received to the Commission communication on a simplified business environment for companies in the areas of company law, accounting and auditing (COM(2007)394), 2007, pp. 10- 13).