NON-FINANCIAL REPORTING IN THE MICRO ENTERPRISES IN SELECTED EUROPEAN COUNTRIES

The micro entities are important element of European economies. They constitute average 93% of all registered companies and employ nearly 30% of all workers. For recent years, European Union countries have been seeking solutions and tools to help micro undertakings collecting and presenting information. The European Directive 2013/34/EU is a first huge step for taking care of the micro entities, which finally can prepare financial statement in simpler form. This Directive introduces among others. limitation the scope of regulations, improving competitiveness and internationalization of information, providing necessary but not excessive financial information for competing with other micro units. Suggestions for presenting non-financial information are included in the Directive 2014/95/EU, but only for large entities, not micro. It should be highlighted that not only stakeholders of large companies but also of medium, small and even micro are interested in collecting and getting information about their sustainable development. Nowadays, when the European market is a global market the accountability, sustainability and reporting back become extremely important. The main aim of this research paper is to carry out a comparative analysis of the non-financial reporting obligations of micro enterprises which keep account books in selected European countries. At the beginning of this paper, criteria for classification of micro undertakings will be presented and compared. The analysis of the legal regulations will allow on identification and comparison of the registration requirements arising from the accounting law regarding these units. Next will be presented place and scope of non-financial data in the financial statement for micro in the researched countries. The main conclusion of the analysis is: micro entities do not have to obligatory present non-financial information. It means that in each country the scope of disclosures of this information is not homogenous. This paper is a basis for seeking the best solutions and practices of presenting non-financial information, which will be adequate to ensure the needs all groups of the stakeholders especially in their sustainable development.