Financial and tax reporting in the SME sector in selected Eastern-European countries

Beata Kotowska , Olga Martyniuk


The purpose of this paper is to carry out a comparative analysis of the reporting obligations of SMEs in selected Eastern-European countries (Latvia, Lithuania, Poland, Russia, Ukraine). These are countries with different levels of economic development, but with a common political-economic ground, where the principles of market economy were introduced at a similar time. Micro, small and medium enterprises are an important element of European economies, both those within the EU as well as those outside it. The results of the analysis of macroeconomic data, which are presented in the article, will indicate signifi cance of this sector in Latvia, Lithuania, Poland, Russia and Ukraine. Literature studies and analysis of the national legal regulations allowed to indicate different ranges of the mandatory elements of the fi nancial statements and of the additional information which the entities from the SME sector must prepare in individual countries. The differences also exist in case of tax evidence and tax reporting. As a result, the scope of the fi nancial information for decision-making and for evaluation of the enterprises is not homogenous in the researched Eastern-European countries. This impedes comparability, however, it can also be a prerequisite to seek the best solutions and practices, not only for the reporting purposes, but also for constructing effective information systems meeting the needs of the managers.
Author Beata Kotowska (FM / DA / MAU)
Beata Kotowska,,
- Management Accounting Unit
, Olga Martyniuk (FM / DCF)
Olga Martyniuk,,
- Department of Corporate Finance
Publication size in sheets1
Book New challenges of economic and business development - 2016 : society, innovations and collaborative economy : international scientific conference : Riga, Latvia, May 12-14, 2016 : conference proceedings, 2016, University of Latvia, ISBN 978-9934-18-140-5, 961 p.
Keywords in Englishaccounting, financial reporting, small business, Eastern Europe, financial statement
Languageen angielski
LicensePublisher website (books and chapters only); published final; Other open licence; with publication
Score (nominal)15
ScoreMinisterial score = 15.0, 23-05-2018, BookChapterMatConfByIndicator
Ministerial score (2013-2016) = 15.0, 23-05-2018, BookChapterMatConfByIndicator
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* presented citation count is obtained through Internet information analysis and it is close to the number calculated by the Publish or Perish system.