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IFRS for SMEs-based not-for-profit guide to financial reporting

  • ACCA (UK Association of Chartered Certified Accountants) (lt green) Image

19 Oct 2015

The Association of Chartered Certified Accountants (ACCA) has produced a guide intended to help people operating in the not-for-profit sector to produce more meaningful reports using the IFRS for Small and Medium Sized Entities (IFRS for SMEs).

Although the IFRS for SMEs is designed for profit-oriented companies, the guide shows how it can be best used for the not-for-profit sector. ACCA sees a need for guidance in this area and has produced the guide to fill this gap on an interim basis. ACCA stresses, however, that it would "welcome and support the development of an IFRS specific to this sector, in due course, which would address more thoroughly the needs of these entities, developed using a more robust due process".

Please click to access the guide and a corresponding press release on the ACCA website.

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