Summary of IFRS for SMEs in German
25 Aug 2009
Deloitte Germany has published a Praxis-Forum Alert! newsletter on the new IFRS for SMEs from a German perspective.
The newsletter not only explains the new standard (chapters include background, issues deemed irrelevant for SMEs, simplifications, and transition) but also focuses on Germany-specific questions. The newsletter notes that the IFRS for SMEs is not legally effective in Germany and also that German Act to Modernise the Accounting Law (BilMoG) has just been published which might mean that taking over the IFRS for SMEs is less probable. It draws the conclusion that taking over the new standard might be desirable especially from the viewpoint of German SMEs with foreign subsidiaries. Click to Download the Newsletter (PDF 98k, German language).
