Key differences
We assessed whether participants were familiar with key differences between IFRS and IFRS for SMEs. Means of all items are below 0.50, as shown in Table 8 indicating that most of the respondents are not highly aware of the differences. We conducted further analysis and found that there are significant differences among respondents. Those who have received training regarding IFRS for SMEs are significantly more knowledgeable than those who have not in all items. Experience does not make any significant difference except for the item regarding the extent of disclosure. Education level of respondents also makes significant difference in responses. Master degree and PhD holders are significantly more knowledgeable about the key differences of standards in all items. Additionally,