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- Title
U.S. SMEs Should Consider Commenting On lASB's Proposal for SMEs.
- Authors
Morris, David
- Abstract
This article reports on the field testing of the International Accounting Standards Board (IASB) proposal on accounting for small and medium-sized entities (SMEs). The aim is to identify areas that could be further simplified and to assess the scope, impact and burden of the proposed International Financial Reporting Standards (IFRS). Between the volume and complexity of existing standards, only large corporate enterprises would have the talent and resources to implement and maintain compliance. The article compares different systems and their difficulty as well as reviewing the background on the small and medium size entity solutions proposal.
- Subjects
INTERNATIONAL Accounting Standards Board; BUSINESS size; ACCOUNTING standards; FINANCIAL statement laws; UNITED States. Securities &; Exchange Commission; COMMERCIAL product testing; ACCOUNTANTS; INTERNATIONAL cooperation
- Publication
Financial Executive, 2007, Vol 23, Issue 7, p18
- ISSN
0895-4186
- Publication type
Article