Argentina adopts IFRS for SMEs
Jan 05, 2011
The Argentine Federation of Professional Councils in Economic Sciences (FACPCE) approved on 3 December 2010 the Technical Resolution No. 29 which introduces the application of IFRS for SMEs.
- IFRS, or
- the IFRS for SMEs, or
- the accounting standards issued by the Federation or to be issued in the future that are not related to this resolution.
Entities that are out of scope of the IFRS for SMEs are not allowed to use the IFRS for SMEs.
The resolution is effective for financial statements for annual periods beginning on or after 1 January 2012, and earlier application is permitted for annual financial statements beginning on or after 1 January 2011. Click for Technical Resolution No. 29 (in Spanish, PDF 244k) and more information on financial reporting in Argentina.