Knowledge and Understanding about the Financial Reporting Standard for Small Medium-sized Enterprises of the Accountants in Sisaket province

Abstract

The research of knowledge and understanding about the financial reporting standard for small and medium-sized enterprises of the accountants in Sisaket province aimed, 1) to study comments about financial reporting standard for small and medium sized enterprises , 2) to study the knowledge and understanding of the principles of accounting standards and financial reporting for small and medium-sized enterprises of the accountants in Sisaket province, and 3) to study the guideline for development of knowledge and understanding financial reporting standard for small and medium sized enterprises of the accountants in Sisaket province.

This study employed mixed methods of research. The researchers used a questionnaire to collect data from the 42 accountants in the province.  Statistical analysis was used with the program and the results from the analysis of quantitative data to verify the data and considered more reviews with knowledge and understanding, as well as the guideline for development of knowledge and understanding of financial reporting standards for Small and medium sized enterprises of accountants in the province with qualitative research by using focus groups representing those 12 involved.

The research found that; Accountants in the province had comments on financial reporting standard for small and medium sized enterprises in the overall and individual aspects at a high level, there were general specification, the advantage of adopting TFRS for SMEs to comply and the problem of bringing TFRS for SMEs to implement and had knowledge and understanding of the principles of accounting standards and financial reporting for small and medium sized enterprises were at a moderate level. The problem and barrier in the adoption of the Financial Reporting Standards for the cost of preparation of the financial statements and may increase the burden of accountants. The accountants have not been studied standardized financial reporting for small and medium sized enterprise. The accountants were lack of knowledge and understanding, Administrators focused on other matters first. The accounting standards council provided too little time for training and no clear, the concern agencies did not follow up knowledge and understanding of accountants.

The guideline for development of knowledge and understanding about the financial reporting standard for small and medium sized enterprise were: 1) accountants had to learn more steadily and consistently, 2) business owners should be supported and encouraged accountants to attend training seminars, 3) accounting standards council and concern agencies had to organize training courses specifically steadily and consistently on both theory and practice, and should provided instruction for further explanation in the financial reporting standard for small and medium sized enterprise with examples, and 4) accounting standards council had to monitoring and evaluation of knowledge and understanding, moreover the accountants offered additional comments that if it will be enforced this standard, The relevant authorities should review the content and scope to fit the type and size of enterprise, particularly  the small and medium-sized enterprises.