Small and medium sized companies in the Republic of Croatia (hereinafter: RC) and other members of the European Union (hereinafter: EU) represent significant part of the total number of business subjects. Companies are categorized as the quantitative and qualitative indicators. Harmonization is the process of comparing and equalizing the financial statements of different countries, in order to achieve a satisfactory degree of comparability and to establish the extent to which the financial statements may differ. In order to develop accounting standards suitable for small and medium companies, 9 July 2009 was the final publication of the standard SMEs (Small and Medium-sized Entities) when they came into effect. Small and medium-sized companies in Slovenia apply Slovenian Accounting Standards. These standards are a set of rules of professional conduct in the field of accounting. Changed through certain periods, but overall there are 40 standards, which among other things defined the valuation of assets and liabilities. Small and medium-sized companies in Slovenia apply Financial Reporting Standards for Small and Medium Society of Great Britain (Financial Reporting standards for smaller Entities, hereinafter FRSSE) that 1997 brings and published by the UK Accounting Standards (Accounting Standards Board, hereinafter : ASB). FRSSE contains 20 standards.