Adoption of IFRS for SMEs in Financial Reporting among Small and
Medium Scale Enterprises in Tourism Industry.
Paper type: exploratory
Abstract
Purpose: General objective of this research paper was to find out if SMEs have applied
International Financial Reporting Standards (IFRS) for Small and Medium Entrepreneurs
(SMEs) while preparing financial statements and if poor financial practises have
contributed to failure of SMEs and give an insight into the strategies to be adopted if
failure is to be avoided.