Slovenia historically belongs to the continental legal system but has built its corporate financial reporting framework on the principles of measurement and recognition primarily derived from the Anglo-American system. The aim of the article is to present the development of the accounting practice in the transition period in Slovenia and to critically assess the current corporate financial reporting framework in Slovenia. Contingency approach, recognising that best solutions are dependent upon broader setting and that solutions that are effective in one country can be inappropriate in others, is used in the assessment of the current corporate financial reporting framework. The article highlights the challenges related to corporate financial reporting in the context of the Slovenian under developed capital market and deficiencies stemming from the discrepancies between legal and financial reporting frameworks. Although the new Slovenian Accounting Standards 2016 are expected to resolve some of the exposed problematic areas and increase transparency of financial reporting, additional regulatory changes in the field of accounting that are needed to further contribute to corporate financial reporting quality in Slovenia are pointed out.
Zaman Groff, M., & Duhovnik, M. (2017). Corporate Financial Reporting in Slovenia: Historical Development, Contemporary Challenges and Policy Implications. Economic and Business Review, 19(3). https://doi.org/10.15458/85451.44