Information level of the respondents about the IFRS for SMEs is also examined
which is also an indicator of their preparedness for the adoption process. Majority
of the respondents stated that they have moderate knowledge regarding IFRS for
SMEs (50.00%). 16.19% of the participants declared that they have good
knowledge, while 29.05% stated that they have only a little knowledge. Only
1.43% of the respondents have very good knowledge regarding IFRS for SMEs. On
the other hand, 3.33% of the accounting professionals stated they have no
information about IFRS for SMEs. Details of the information level of respondents
regarding IFRS for SMEs are reported in Figure 2. Those findings may show that a
considerable number of the respondents did not have sufficient preparations for
IFRS for SMEs yet.