Tec Empresarial | 2026
Authors: Contreras-Cuentas M.M.; Sanchez-Barrios L.J.; Rojano-Alvarado Y.N.
DOI: 10.18845/te.v20i1.8408
Journal: Tec Empresarial
Year: 2026
Publisher: Business School, Instituto Tecnologico de Costa Rica
Document Type: Article
Open Access: All Open Access; Gold Open Access
Cited by: 0
Despite the relevance of International Financial Reporting Standards (IFRS) worldwide, the literature on the aspects that SMEs need to consider after adopting such standards is scant. This study addresses the need for identifying a model that helps to guide Chief Accountants, financial controllers, and managers in similar roles to managing accounting systems after IFRS adoption. We conducted a focused ethnographic study among 26 commercial SMEs in the Colombian Caribbean Region through 36 interviews with business leaders. Through an inductive-deductive approach and iterative triangulation of data and literature, we identify a Steering Model for Accounting Management in SMEs under IFRS. Our model considers context-specific conditions such as uncertainty, technology, teamwork, processes, and controls. Furthermore, our model underscores two managerial aspects: 1) Key IFRS topics (i.e. revenue and receivables, cash and equivalents, fixed assets, and employee benefits) and 2) Leadership (i.e. family presence in the firm, as well as technological, integral, and accounting and management). Our study not only contributes to the existing literature on managerial practices dealing with the adoption of IRS in SMEs but also sheds light to practitioners on a topic that is engraved in their role functions. © 2026, Business School, Instituto Tecnologico de Costa Rica. All rights reserved.
Accounting management; ethnography; IFRS adoption; SMEs