Small companies are the backbone of the economy in many countries. In Europe, for example, small companies represent more than 90% of all companies. Despite the fact that these companies represent such an important portion of the economy, few studies have been examining voluntary disclosure...

We examine the association between voluntary financial disclosure and the amount of obtained trade credit in a sample of small and young private Belgian companies. We argue that voluntary disclosure can help small private companies in mitigating information asymmetries that arise between the...

Reaching higher comparability was one of the main goals of the implementation of the International Financial Reporting Standards (IFRS) in the European Union in 2005. However, national accounting traditions and cultural differences continue to cause differences in the application of IFRS (KPMG &...

In Europe, the debate over the simplification or outright abolishment of reporting requirements for small companies is raging. The government's rationale for simplification of financial reporting requirements is mainly based on reducing the administrative burden. Although it is important to...