This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

Two surveys amongst German small and medium-sized entities on the IFRS for SMEs

  • Germany Image

11 Jan 2011

The Accounting Standards Committee of Germany (ACSG) has published the results of two surveys amongst German small and medium-sized entities on their assessment of the IFRS for SMEs.

The first survey that resulted in the Final Report of the Survey on the IFRS for SMEs among German SMEs asked 4.000 non-listed companies regarding the need for the IFRS for SMEs in Germany and their assessment of the requirements of the IFRS for SMEs compared to those under the German Accounting Modernisation Act. The final question was whether the SMEs participating in the survey would consider applying the IFRS for SMEs in their single and/or consolidated accounts if it were legally possible in the future. 14% of the responding entities answered with "yes", 83% with "no". 73% of those who answered with "no" stated that they prefer German GAAP, 17% percent preferred full IFRSs and 10% cited "other reasons".

The second survey that resulted in the Final Report of the Survey on the IFRS for SMEs among German "small" publicly traded entities targeted 342 "small" listed companies (with sales up to 130 million Euro) and analysed their assessment of the IFRS for SMEs in general, compared to full IFRS and advantages or disadvantages in potentially applying the IFRS for SMEs. The survey showed that a majority of the participating publicly traded entities see the IFRS for SMEs as a sensible regulatory alternative that should be available to them. This is in clear contrast to the IASB's intention to exclude publicly traded entities from the scope of the standard.

Click for:

 

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.