The Committee for Financial Reporting Standards adopted the Decision on Amendments to the Decision on the Publication of Croatian Financial Reporting Standards (Narodne novine No. 105/20), according to which it specified what general information micro and small entrepreneurs are required to publish in the notes to the annual financial statements. The aforementioned decision also determined what information that micro and small entrepreneurs do not have to include.

In 2022, the Board adopted another Decision on amendments to the Decision on the Publication of Croatian Financial Reporting Standards (Narodne novine No. 150/22), which further clarified the provisions from 2020.

After making the aforementioned decisions, the Committee monitored their application and found that micro and small entrepreneurs draw up notes unevenly and inconsistently. Because of that, the Committee created the standardization of notes for micro and small entrepreneurs. Entrepreneurs are advised to use this standardization when writing their own notes.

This form is not an obligation, but rather a help to micro and small entrepreneurs. It enables them to prepare the notes in a simpler way and with a higher level of quality. A standardized note form can be downloaded from our downloadable documents below, and comments and suggestions regarding the form can be submitted to the Committee by 30 April 2024 via the form at the link.

Data source: Financial Reporting Standards Committee