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IASB publishes discussion paper on accounting standards for SMEs

  • IFRS for SMEs (mid blue) Image

24 Jun 2004

The IASB has published a discussion paper on the Board's 'Preliminary Views on Accounting Standards for Small and Medium-sized Entities (SMEs)'.

The discussion paper focuses on issues relating to the Board's approach to the project. It does not include proposals for specific financial reporting standards for SMEs. That will come later.

Printed copies of the discussion paper will be sent to subscribers or may be purchased for £10 from the IASB. An electronic version of the discussion paper may be downloaded from without charge starting 5 July. Comment deadline is 24 September 2004.

Click for IASB Press Release (PDF 26k).


Issues raised in the IASB's Discussion Paper on Standards for SMEs
  • Should the IASB develop special financial reporting standards for SMEs?
  • What should be the objectives of a set of financial reporting standards for SMEs?
  • For which entities would IASB Standards for SMEs be intended?
  • If IASB Standards for SMEs do not address a particular accounting recognition or measurement issue confronting an entity, how should that entity resolve the issue?
  • May an entity using IASB Standards for SMEs elect to follow a treatment permitted in an IFRS that differs from the treatment in the related IASB Standard for SMEs?
  • How should the Board approach the development of IASB Standards for SMEs? To what extent should the foundation of SME standards be the concepts and principles and related mandatory guidance in IFRSs?
  • If IASB Standards for SMEs are built on the concepts and principles and related mandatory guidance in full IFRSs, what should be the basis for modifying those concepts and principles for SMEs?
  • In what format should IASB Standards for SMEs be published?


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