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International Financial Reporting Standards (IFRS) for small and medium-sized enterprises
Perera, Kaluthanthrige Dona Dinuja
Perera, Kaluthanthrige Dona Dinuja
Abstract
Chapter 5 examines the International Financial Reporting Standards (IFRS) for small and medium-sized enterprises (SMEs) that were issued by the International Accounting Standards Board in July 2009, outlining their acceptance and the successful implementation of the standards around the world. This was the first set of international accounting standards developed particularly for non-publicly accountable entities in response to strong international demand for a simplified set of accounting standards for SMEs. Globally, 80-plus jurisdictions have adopted IFRS for SMEs, while some jurisdictions have indicated their desire to adopt the standards for non-publicly accountable entities.
Keywords
IFRS, Small and medium-sized enterprises, Acceptance, Successful implementation, Challenges
Date
2024
Type
Book chapter
Journal
Book
Encyclopedia of International Accounting
Volume
Issue
Page Range
27-36
Article Number
ACU Department
Peter Faber Business School
Faculty of Law and Business
Faculty of Law and Business
Collections
Relation URI
Event URL
Open Access Status
License
All rights reserved
File Access
Controlled
Notes
© Parmod Chand, 2024. All rights reserved.