Novelties of Accounting Standard No.15 on Micro-Units

Abstract

This paper treats some important issues related to the changes generated by the application of the National Accounting Standard No.15 “On the principles of accounting and financial reporting of micro economic units”. The study was based on many sources such as the study of current and previous legislation pointing out all the innovations that occur within this framework. The scope of this paper is to give an answer to the questions of who is benefiting from the implementation of this law, and which are the disadvantages of this law. Furthermore, it gives a comparison of microunits balances designed under the current law with the balances designed under the previous law.

DOI: 10.5901/mjss.2013.v4n2p637