The introduction of international accounting standards in the italian small and medium sized entities

Abstract

Considering the fact that the Italian government is ready to review both tax regulations and civil regulations governing financial statements, the paper try to summarize the considerations of Italian accounting science on introduction of International Accounting Standards in the national system. Accounting changes seen in recent years are significantly impacting the financial statements of the European companies: on one hand, listed companies are adopting International Accounting Standards, and on the other hand, SMEs are facing new regulations that are about to be reviewed by the Italian Government.