EXPLICATIVE FACTORS FOR THE LEVEL OF COMPLIANCE WITH FINANCIAL REPORTING STANDARDS BY COMPANIES IN THE SOCIAL ECONOMY
Journal Title: European Journal of Business and Social Sciences - Year 2015, Vol 4, Issue 5
Abstract
Social economy enterprises, being immersed in globalization, face the problem of generating meaningful financial information for decision-making. The objective of this research is to describe and analyze the factors that explain the level of compliance with the Financial Reporting Standards (FRS) in a group of social economy enterprises. We selected a sample of 21 companies, as a dependent variable, and we chose the level of compliance with Financial Reporting Standards, level of training of accounting professionals responsible for the financial reporting, conditions for their adoption, and actions for their adoption as independent variables. The results indicate that professional training was significant, so we conclude that the companies that are the subject of this study should promote staff training and retention, especially staff with experience in accounting to achieve compliance in the adoption of FRS, thereby determining the implications for the academic, business, and government communities.
Authors and Affiliations
Dr. Roberto Rodríguez Venegas| Universidad de Guanajuato, campus Celaya, México. Depto. Finanzas y Administración roberto_rodriguezv@hotmail.com Tel. (00521) 461 191 2747, Dr. Alejandra López Salazar| Universidad de Guanajuato, campus Celaya, México. Depto. Finanzas y Administración alelopez.salazar@yahoo.com
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