Bakgrund: I september 2003 beslutade IASBs styrelse att organisationen ska utveckla särskilda standarder som är lämpliga att användas av små och medelstora företag då de tar fram sina finansiella rapporter. Utgångspunkterna i undersökningen är att IASB utgör en internationell institution som i huvudsak formas av sina största intressenters behov och att reglering av redovisning kan ses som en politisk process. Syfte: att ge en beskrivning av orsaker till och målen med IASBs projekt att utveckla internationella redovisningsstandarder för små och medelstora företag. Syftet är vidare att utreda om skillnader mellan anglosaxisk och kontinental redovisningstradition kan utgöra hinder vid IASBs harmonisering av internationella redovisningsstandarder för små och medelstora företag. Metod: För att uppnå syftet har en dokumentundersökning genomförts där empirin i första hand består av vetenskapliga artiklar samt annat publicerat material som direkt eller indirekt berör IASBs projekt att utveckla internationella redovisningsstandarder för små och medelstora företag. IASBs diskussionsunderlag Preliminary Views on Accounting Standards for Small and Medium-sized Entities samt kommentarer till detta diskussionsunderlag som inkommit till IASB har utgjort särskilt viktiga källor i undersökningen. Avgränsning: För att undersöka om skillnader mellan anglosaxisk och kontinental redovisningstradition kan utgöra hinder vid harmonisering av internationella redovisningsstandarder för små och medelstora företag har Storbritannien (anglosaxisk) och Tyskland (kontinental) studerats som representanter för respektive redovisningstradition. De faktorer som bedömts ha störst betydelse för utvecklingen inom respektive redovisningstradition är först och främst kapitalstruktur, legala system, skattekoppling samt professionaliseringsgrad i olika länder. Resultat: Orsakerna till att IASB har beslutat sig för att utveckla speciella redovisningsstandarder för små och medelstora företag är att användare av dessa företags finansiella rapporter efterfrågar annan information än vad användare av finansiella rapporter för noterade bolag gör,fullständiga IFRS anses också för dessa typer av företag vara alltför omfattande och kostsamma att tillämpa. En annan anledning är att den ökade implementeringen av IFRS ger upphov till minskad jämförbarhet mellan olika företags rapporter på nationell nivå samt att IASB vill undvika att olika nationer själva anpassar sina nationella GAAPs mot IFRS då det kommer till små och medelstora företags redovisning och därigenom försvårar en framtida standardisering av internationella redovisningsregler. De huvudsakliga målen med projektet är att IASB vill möta behoven hos användare av små och medelstora företags finansiella rapporter samt erbjuda dessa företag globalt användbara standarder. Övriga mål är att dessa standarder ska baseras på samma ramverk som fullständiga IFRS och att rapporteringsbördan för små och medelstora företag ska reduceras. Undersökningen har visat att skillnader mellan anglosaxisk och kontinental redovisningstradition kan utgöra hinder vid harmonisering av internationella redovisningsstandarder för små och medelstora företag. Svårigheterna ligger i första hand i att harmonisera standarderna så att de tillfredställer intressenter från länder med kontinental redovisningstradition (i undersökningen representerat av Tyskland) och det starkaste observerade hindret kan hänföras till den starka koppling som finns mellan redovisning och beskattning inom den kontinentala redovisningstraditionen.

Background: The development of the Swedish demography is one of the most important social and economic changes ever in Swedish history. Society as well as business is facing an age chock since almost every other company owner is over 50 years old. The complexity of managing a successful succession is pointed out as a major threat to the Swedish economy by the organization Svenskt Näringsliv. Purpose: The purpose with this master thesis is to identify and analyze critical success factors for a successful succession from a going concern perspective. Research method: By using the strong aspects from the quantitative as well as the qualitative method, high level of order and systematic could be reached, without loosing too much details and depth in this particular research. The empirical data was gathered by a digital survey sent to 3000 companies. The quantitative research was complemented by 6 qualitative interviews to increase depth and reliability. Results: The study shows that there is a great incongruence between the expected problems associated to the succession and the actual outcome. Furthermore, there are great differences between the problems prioritized by the companies compared to the ones that their advisers and consultants recommend should be prioritized. The analyses and results lead to a new model for successful succession, The 4-Ps of Successful Succession.

<p><font face="TimesNewRomanPSMT"> <p align="left">This thesis tries to answer the question of how the reading half hour could be used effectively to address literacy problems and thereby improving reading comprehension. In this thesis dominant issues surrounding the teaching of reading and the development of reading comprehension are put under the magnifying glass. A skills based approach, where the focus is on the development of mechanical skills, is contrasted with a comprehension approach in the study. The study was undertaken within a psycholinguistic approach where the primary aim is to make meaning of language and text. This framework also created the space within which literacy problems could be addressed.</p> </font></p>

The globalization of markets is hindering the competitive position of organizations throughout the world. On one hand, Small and Medium Sized Enterprises (SMEs) which have settled in a niche market face an escalating difficulty to defend their market share. On the other hand, increasing fragmentation of value chains throughout the world is turning many SMEs into powerless suppliers (Gammelgaard and Mathiasen, 2007). Consequently, SMEs are obliged to improve their competitiveness, and outsourcing is an effective tool to achieve that. However, its use is still not widespread throughout SMEs (Knowledge Wharton, 2004). In fact, SMEs are perceived to be stimulators of the local economies (Blackford as cited by Odaka and Hawai, 1999, p.58) and to be more attached to their local environment. The weight of emotional responses in decision making of outsourcing might be related to the low occurrence of it amongst SMEs. Hence, the aim of this study is to understand in which way the emotional factors affect the decision making of outsourcing in SMEs.The study follows a qualitative strategy with an explanatory research design. We did not only want to explore the impact of emotional factors, but understand the reasons behind it. Accordingly, we first identified the possible economic and emotional factor through the construction of the theoretical framework. This allowed us to know their individual relevance in the decision making, but unfortunately we could not obtain a coherent picture of their relationship. In order to accomplish these relations, the primary data was collected through in-depth semi-structured interviews. Six SMEs with headquarters in Umeå were interviewed and provided us with the necessary data. Consequently, our analysis unveiled the relationship between the factors that affect the decision of outsourcing - managing to fulfill the purpose of our study.Basically, our obtained results led us to the conclusion that the small or medium nature of the enterprise does not condition their emotional behavior. Therefore, we concluded that the fact that the enterprise being an SME does not imply that emotional factors have more weight in the decision making. In fact, we discovered that the emotional factor with the highest degree of influence in decision making of outsourcing in SMEs is the type of corporate culture of the business.The globalization of markets is hindering the competitive position of organizations throughout the world. On one hand, Small and Medium Sized Enterprises (SMEs) which have settled in a niche market face an escalating difficulty to defend their market share. On the other hand, increasing fragmentation of value chains throughout the world is turning many SMEs into powerless suppliers (Gammelgaard and Mathiasen, 2007). Consequently, SMEs are obliged to improve their competitiveness, and outsourcing is an effective tool to achieve that. However, its use is still not widespread throughout SMEs (Knowledge Wharton, 2004). In fact, SMEs are perceived to be stimulators of the local economies (Blackford as cited by Odaka and Hawai, 1999, p.58) and to be more attached to their local environment. The weight of emotional responses in decision making of outsourcing might be related to the low occurrence of it amongst SMEs. Hence, the aim of this study is to understand in which way the emotional factors affect the decision making of outsourcing in SMEs.The study follows a qualitative strategy with an explanatory research design. We did not only want to explore the impact of emotional factors, but understand the reasons behind it. Accordingly, we first identified the possible economic and emotional factor through the construction of the theoretical framework. This allowed us to know their individual relevance in the decision making, but unfortunately we could not obtain a coherent picture of their relationship. In order to accomplish these relations, the primary data was collected through in-depth semi-structured interviews. Six SMEs with headquarters in Umeå were interviewed and provided us with the necessary data. Consequently, our analysis unveiled the relationship between the factors that affect the decision of outsourcing - managing to fulfill the purpose of our study.Basically, our obtained results led us to the conclusion that the small or medium nature of the enterprise does not condition their emotional behavior. Therefore, we concluded that the fact that the enterprise being an SME does not imply that emotional factors have more weight in the decision making. In fact, we discovered that the emotional factor with the highest degree of influence in decision making of outsourcing in SMEs is the type of corporate culture of the business.

Svenska Lantchips is a Swedish SME sized snack manufacturer. Being a small, medium sized, family-owned business with branches throughout the world, they make an interesting company for a case study. The case study I have conducted focuses on the internationalisation process of this family owned company – how they, despite their size, find ways to keep up an unique business structure, designed for internationalisation.The aim of this essay is to compare Svenska Lantchips’ internationalisation process with traditional internationalisation theories and see if these are compatible with this company. The theories used are The Uppsala Model, The Network Model, and The Born Global Theory, with The Born Global Theory representing the younger generation of models.After undertaking an in-depth interview with Michael Hansen, business developer at Svenska Lantchips, I collated a substantial amount of material, which I have used as the basis of this essay. Theories of storytelling have been used to interpret the information I got from Michael Hansen. Michael Hansen was chosen not only for his role as a business developer, but he is also the co-founder of the company, together with his wife, and brother in law. Previous research was studied to get information about attitudes within this research field today. The result from this thesis is that Svenska Lantchips have forged their own distinctive route out on the global market. Despite being a relatively small, family-owned company, with a low dependency on sophisticated technologies, they have managed to expand and internationalise at an impressive rate. By opening factories on foreign markets, sometimes even before exporting to them, they have produced a unique competitive advantage. Their internationalisation process at times more closely resembles that of a high-tech, innovative company, than a small, family-owned firm. The driving force behind them is their personal determination, and the philosophy that the world is one big market; they refuse to see cultural and geographical differences as an obstacle.

Companies need capital in order to run their business, do necessary investments and grow larger. These actions are combined with high costs where both internal and external financing might be appropriate. Capital structure is the relation between debt and equity. In this thesis we have focused on the decision behind the capital structure. We have focused on the road freight industry and we have tried to find out how management reason about their decision. The purpose of this thesis is therefore to describe and analyze SMEs’ decision of capital structure within the road freight sector in the Jönköping region. Emphasise is put on the different aspects that influence the capital structure decision and to what extent this is a strategic issue coloured by personal beliefs. To fulfill the purpose mainly a qualitative approach with primary data from structured interviews has been used. The interviews were conducted face-to-face with six owner and/or managers. Further on, secondary data from the firms’ annual reports were used and analyzed. The pecking order theory explains that firms, especially SMEs, prefer to finance their businesses with internally generated funds. Focus of the theoretical part are on theories of what factors that affects the capital structure decision, how this can be argued to be a strategic question for SMEs, how risk affects the capital structure decision and how this decision is made in a family business. These theories are presented to shed light on the capital structure decision making process of SMEs. From this study it is found that the majority of the companies’ prefer internal financing i.e. reinvested earnings, and as a second alternative to use debt in form of bank loans. The study also shows that the reasons behind this preferred order are the will of being independent, previous experience and managements’ risk-taking propensity. We believe that these factors combined with beliefs about debt and realized need for debt works as a base for how a capital structure strategy is discussed, formed and developed. From this study it can also be concluded that risk indirect affects the capital structure decision and that a restrictive view on debt leads to a restrictive desire to grow since a fast growth in most cases needs to be financed by debt. Last, the study concludes that even though the studied firms prefer to finance with retained earnings they all use debt more or less.

Society demands more and more that corporations take over responsibility on the effects of their business actions in a stakeholder view. Corporate Social Responsibility and Corporate Governance are catchwords in this context that stand for a management view there one focuses on more than profits and quality. In corporate responsibility management one takes a stakeholder view and integrates also issues such as supplier relations, supply chain management, environmental practices and sustainability as well as labor standards and human rights into the management view. The integration and balance between economic, environmental and social issues going above legal requirements is called triple bottom line thinking. Today, corporate responsibility is no more only an issue for large international corporations but also for SMEs with limited resources and less market power. The purpose of this thesis is to describe and understand how a sustainable business approach can develop and be maintained in SMEs. By examining the case Coffee Queen, we want to find out about driving forces for development of corporate responsibility. To receive nuanced information and deeper insight into the corporate responsibility of a company, a single case study with a qualitative research approach was chosen. The empirical material for this case was collected during a visit of Coffee Queens’ plant in Arvika and three open personal interviews. Based on a literature review and narratives from the empirical material it was found that driving forces for the development towards sustainable business are strongly related to leadership by values. The engagement of one or more organization members that are supported by the top management and a values base that gives a framework for corporate behavior and supports the reputation of the company were found to be important variables to reach an ISO 14000 certification for Coffee Queen. From the management side, the corporate responsibility can be seen as a market requirement and used as a marketing tool for competitive advantage. A strategic approach to corporate responsibility was appeared to be helpful as it increases the accountability of positions, and demanded in SMEs. Total quality management according to ISO 9000 and 14000 was in this context found as additional driver for sustainable development. On a basis of continuous improvement companies have to forward their positions step-by-step towards an integrated sustainability approach. This idea of corporate responsibility development is demonstrated by a model showing the steps towards an integrated triple bottom line. With these findings, this study provides insight into corporate responsibility in a SME and links values-based management and quality management to the process of developing a sustainable business approach.

Vi vill i vår uppsats ta reda på den svenska revisionspliktens upplevda nytta ur ett intressentperspektiv inför en eventuell lagändring, för att få en bild av hur intressenterna värderar lagstadgad revision. För att få en större insikt i ämnet kommer vi även att undersöka andra länders erfarenheter efter ett borttagande. Vi har använt oss av en kvalitativ metod för att belysa mer komplexa teman, gå djupare i ämnet och ta reda på varför och hur. Vid insamling av teori har vi använt oss av litteratur samt databaser som finns tillgängliga via biblioteket. Vi använde oss av ostrukturerade intervjuer även kallat öppna intervjuer. Vi har intervjuat skatteverket, ekobrottsmyndigheten, ett kreditupplysningsföretag och en revisor för att svara på syftet. Vi har i vår undersökning kommit fram till att intressenterna tycker att trovärdigheten i företagens finansiella information försämras om man tar bort revisionsplikten. Intressenterna pekar på att revision som bra för företagen själva med att snabbt upptäcka fel och brister i deras redovisningar. Våra intressenter är även överens om att man bör utveckla alternativ till den lagstadgade revisionen för att säkerställa att den finansiella informationen är korrekt. Ingen av våra respondenter tog upp några av de alternativ andra länder har använt. Kreditgivare kan komma att lösa detta på andra sätt, t ex avtalsliknande former eller att de begär revision av räkenskaperna för att låna ut pengar. Det är då svårare för EBM och SKV.

This study examines the impact of working capital management on cash holdings of small and medium-sized manufacturing enterprises in Sweden. The aim of this work is to theoretically derive significant factors related to working capital management which have an influence on the cash level of SMEs and test these in a large sample of Swedish manufacturing SMEs. The theoretical framework for this study consists of a treatise of motives for holding cash, working capital management and cash level. From these theoretical findings, two hypotheses are deduced: • H1: Cash holdings are negatively related to the presence of cash substitutes • H2: Cash holdings are positively related to working capital management efficiency The quantitative investigation consists of the statistical analysis – namely comparison of means and correlation analysis – of key figures which are calculated from the financial statements of a large sample of firms. The dataset contains 13,287 Swedish manufacturing SMEs of the legal form ‘Aktiebolag’. Both hypotheses are confirmed by the results. Empirical evidence is presented which substantiates the supposition that the presence of cash substitutes – namely inventory and accounts receivable – entails lower cash holdings. Furthermore, it is confirmed that working capital management efficiency – measured by the cash conversion cycle – is positively related to cash level. The discussion of the empirical findings pays regard to the different subordinate components of both cash substitutes and working capital management efficiency. Implications of the detected findings are highlighted with respect to their potential utility for the achievement and maintenance of a firm’s target cash level.

The Study discusses the development of the venture capital (VC) industry in China, from its fundraising, investment to post investment, and comparisons on a global scale. We also analyzed the relationship between the innovative industries and economic growth, and discussed the VC’s exit route and stock market in China. The growth of China’s VC industry is still promising but there are still some challenges that it has to overcome. Furthermore, the VC development in China also implies the growth potential of the Chinese stock markets, and suggests that Taiwan should act as an active role and take advantage of its geographical position, strong relationship and regional stability with China to participate in the possible collaboration of the stock markets in the Asia-Pacific region.