Development and Implementation of IAS in Small and Medium Sized Enterprises. Case Study for Kavala

This paper examines the adoption and implementation of IFRS for SMEs in the prefecture of Kavala. Through empirical research we can see that businesses and specifically their willingness to implement IFRS depends largely on the educational level and size of companies. At the same time, we are examining the degree of influence that decision based on the advantages offered by the IAS as well as factors such as economic openness of companies.By the end of the investigation we concluded that, little guidance and thus insufficient information of companies around the issues of standards, leading them in the decision to distance themselves, as at this particular moment they doesn’t seem to concern about the existence of internationally comparable information. Given the current economic circumstances, factors such as the implementation costs contribute deterrent as it reveals to be a big risk for companies given the lack of necessary knowledge and infrastructure.