IFRS for SMEs news
04 Feb 2011
The IFRS Foundations staff has made the following information relating to the International Financial Reporting Standard for Small and Medium-sized Entities (IFRS for SMEs) available:
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IFRS for SMEs adoption news
- Ghana. All 'small and medium scale enterprises' (SMEs) , state-owned organisations, and private organisations are required to use the IFRS for SMEs starting with their financial statements for 2010. Listed companies and financial institutions are required to use full IFRSs.
- Honduras. Honduras has adopted the IFRS for SMEs for statutory reporting in both consolidated and separate company financial statements starting in 2012, as an alternative to full IFRSs.
- Jamaica. The Institute of Chartered Accountants of Jamaica has adopted the IFRS for SMEs for all companies without public accountability starting 1 January 2011, except for companies that (a) elect to use full IFRSs or (b) are government owned. 'Government-owned entities' are those subject to The Public Bodies Management and Accountability Act.
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PowerPoint presentations about the IFRS For SMEs The staff has also posted three new PowerPoint presentations about the IFRS For SMEs (all of the available via the IASB's IFRS for SMEs Presentations Page):
- "Why the World Needs a Separate Standard for Private Companies, and Why the US Does, Too"
- "Introduction and Overview of IFRS for SMEs"
- "The IFRS for SMEs"
