International financial reporting standards for small and medium-sized entities (smes) 2009 is the first set of international accounting requirements developed specifically for smes. it has been prepared by the international accounting standards board (iasb) on ifrs foundations but is a stand-alone product that is separate from the full set of international financial reporting standards (ifrss) the ifrs for smes has simplifications that reflect the needs of users of smes' financial statements and cost-benefit considerations .compared with full ifrss, it is less complex in a number of ways: topics not relevant for smes are omitted where full ifrss allow accounting policy choices , the ifrs for smes allows only the easier option. many of the principles for recognizing and measuring assets, liabilities , income and expenses in full ifrss are simplified. significantly fewer disclosures are required. and the standard has been written in clear, easily translatable language. it is suitable for all entities except those whose securities are publicly traded and financial institutions such as banks and insurance companies.
|Publisher||TAXMANN PUBLICATIONS PVT. LTD.|
|Number of pages||358|
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