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      Supporting SMEs and non-PIEs with Croatian Financial Reporting Standards

      What is CFRS?

      CFRS is a set of accounting standards adopted by the Financial Reporting Standards Board under the Ministry of Finance. It is based on:

      • The Accounting Act
      • EU Directive 2013/34/EU
      • Selected principles from IFRS/IAS

      CFRS includes 17 standards covering topics such as:

      • Financial statements
      • Consolidation
      • Accounting policies
      • Tangible and intangible assets
      • Revenues and expenses
      • Agriculture and investment property 

      Who applies CFRS?

      • Micro, small and medium-sized enterprises (SMEs)

      • Non-public interest entities (non-PIEs)

      • Entities not listed on regulated markets

      • Subsidiaries of IFRS-reporting groups (optional) 

      Our CFRS Services

      Transition from IFRS to CFRS (or vice versa)

      Preparation and review of financial statements under CFRS

      Advisory on disclosures and compliance with CFRS 1–17

      Support with regulatory reporting to FINA and Tax Administration

      Training for accounting teams on CFRS application

      Why KPMG Croatia?

      Deep understanding of CFRS and its practical application

      Experience with SMEs and family-owned businesses

      Alignment with Croatian legislation and EU directives

      Multidisciplinary support across audit, tax, and advisory

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