Comparison of Approaches to Financial Reporting of Non-current Assets According to the IFRS for SMEs and IAS/IFRS

The aim of this paper is to compare the policies for measurement, depreciation and recognition of tangible fixed assets according to the International Financial Reporting Standard for Small and Medium-sized Entities (IFRS for SMEs) and according to the full version of the International Financial Reporting Standards (IAS/IFRS). In addition, the paper presents results of an empirical research into the awareness level of respondents (economists and chief accountants of small and medium-sized enterprises in the Czech Republic) as to the IAS/IFRS and IFRS for SMEs accounting system.