This study examines the historical development, implementation, and impact of accounting principles on Greek enterprises, highlighting the interplay between national regulations, European Union directives, and international standards. It traces the evolution of accounting in Greece from the dominance of Law 2190/1920 and tax-based reporting to the gradual adoption of International Financial Reporting Standards (IFRS) after EU Regulation 1606/2002. The analysis demonstrates how accounting principles—ranging from conventional frameworks to IFRS—have influenced financial transparency, taxation practices, corporate governance, and decision-making processes in Greek enterprises. Particular emphasis is placed on the role of taxation, sector-specific challenges in tourism and shipping, the contribution of professional accountants, and the adoption of technological advancements in accounting. Comparative insights with other EU countries reveal both similarities and persistent divergences in practice. The study concludes that while IFRS adoption has enhanced transparency and confidence, Greek enterprises continue to face challenges in aligning local tax-oriented practices with international reporting requirements. Policy recommendations underscore the need for harmonization, continuous professional development, and sector-adjusted approaches to strengthen the effectiveness of accounting as a tool for governance, decision-making, and economic resilience in Greece.
Challoumis et al. (Thu,) studied this question.