International Financial Reporting standard for Small and Medium-sized entities
Southern African Journal of Entrepreneurship and Small Business Management
Field | Value | |
Title | International Financial Reporting standard for Small and Medium-sized entities | |
Creator | Koppeschaar, Z | |
Description | The International Financial Reporting Standard for Small and Medium-sized entities (IFRS for SMEs) was published as a standard by the International Accounting Standards Board (IASB) during July 2009. During 2007 South Africa became one of the first countries and the first country in Africa to early accept the proposed accounting standard (exposure draft of an IFRS for SMEs). The accounting standard will probably also be accepted by numerous other countries. The aim of this article is to investigate the applicability of this accounting standard. The results indicated that the IFRS for SMEs remains too comprehensive for the majority of small companies. The IFRS for SMEs does not satisfy the needs of South African users of small company financial statements, and as a result the accounting requirements should be simplified.KEYWORDS: Financial accounting; Financial reporting requirements; IFRS for SMEs; Small companies; Users of financial statements; Small company financial statements. | |
Publisher | AOSIS Publishing | |
Date | 2012-12-31 | |
Identifier | 10.4102/sajesbm.v5i1.27 | |
Source | The Southern African Journal of Entrepreneurship and Small Business Management; Vol 5, No 1 (2012); 54 - 68 2071-3185 2522-7343 | |
Language | eng | |
Relation |
The following web links (URLs) may trigger a file download or direct you to an alternative webpage to gain access to a publication file format of the published article:
https://sajesbm.co.za/index.php/sajesbm/article/view/27/31
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