The findings of this study showed that most of the accounting professionals are
aware of IFRS for SMEs adoption process; have a moderate information level of
IFRS for SMEs; and attended training on the IFRS for SMEs. Majority of the
accounting professionals expect that the IFRS for SMEs implementation process
will be accomplished in 1-2 years in Turkey. Further, we determined that as the
information level of accounting professionals regarding IFRS for SMEs increases,
they expect sooner accomplishment of implementation process. The results of
Kruskal-Wallis test showed that experienced accounting professionals are more
prepared and trained about the IFRS for SMEs. Comparable, reliable, transparent,
and understandable financial statements and effective financial reporting are
considered as the most important advantages of the IFRS for SMEs
implementation. On the other hand, lack of training and costs are seen as the main
obstacles to the IFRS for SMEs implementation. Most of the participants indicated
that costs of the IFRS for SMEs implementation process will exceed its benefits.
We could determine little significant differences in responses of accounting
professionals regarding advantages and disadvantages of and obstacles to IFRS for
SMEs based on their experience, education level, and preparedness.