International Financial Reporting standard for Small and Medium-sized entities
The International Financial Reporting Standard for Small and Medium-sized entities (IFRS for SMEs) was published as a standard by the International Accounting Standards Board (IASB) during July 2009. During 2007 South Africa became one of the first countries and the first country in Africa to early...
Main Author: | |
---|---|
Format: | Article |
Language: | English |
Published: |
AOSIS
2012-12-01
|
Series: | The Southern African Journal of Entrepreneurship and Small Business Management |
Online Access: | https://sajesbm.co.za/index.php/sajesbm/article/view/27 |
id |
doaj-a34feec4dafa4838879890368faf7a59 |
---|---|
record_format |
Article |
spelling |
doaj-a34feec4dafa4838879890368faf7a592020-11-25T02:46:32ZengAOSISThe Southern African Journal of Entrepreneurship and Small Business Management2522-73432071-31852012-12-0151546810.4102/sajesbm.v5i1.2724International Financial Reporting standard for Small and Medium-sized entitiesZ Koppeschaar0UNISAThe International Financial Reporting Standard for Small and Medium-sized entities (IFRS for SMEs) was published as a standard by the International Accounting Standards Board (IASB) during July 2009. During 2007 South Africa became one of the first countries and the first country in Africa to early accept the proposed accounting standard (exposure draft of an IFRS for SMEs). The accounting standard will probably also be accepted by numerous other countries. The aim of this article is to investigate the applicability of this accounting standard. The results indicated that the IFRS for SMEs remains too comprehensive for the majority of small companies. The IFRS for SMEs does not satisfy the needs of South African users of small company financial statements, and as a result the accounting requirements should be simplified. KEYWORDS: Financial accounting; Financial reporting requirements; IFRS for SMEs; Small companies; Users of financial statements; Small company financial statements.https://sajesbm.co.za/index.php/sajesbm/article/view/27 |
collection |
DOAJ |
language |
English |
format |
Article |
sources |
DOAJ |
author |
Z Koppeschaar |
spellingShingle |
Z Koppeschaar International Financial Reporting standard for Small and Medium-sized entities The Southern African Journal of Entrepreneurship and Small Business Management |
author_facet |
Z Koppeschaar |
author_sort |
Z Koppeschaar |
title |
International Financial Reporting standard for Small and Medium-sized entities |
title_short |
International Financial Reporting standard for Small and Medium-sized entities |
title_full |
International Financial Reporting standard for Small and Medium-sized entities |
title_fullStr |
International Financial Reporting standard for Small and Medium-sized entities |
title_full_unstemmed |
International Financial Reporting standard for Small and Medium-sized entities |
title_sort |
international financial reporting standard for small and medium-sized entities |
publisher |
AOSIS |
series |
The Southern African Journal of Entrepreneurship and Small Business Management |
issn |
2522-7343 2071-3185 |
publishDate |
2012-12-01 |
description |
The International Financial Reporting Standard for Small and Medium-sized entities (IFRS for SMEs) was published as a standard by the International Accounting Standards Board (IASB) during July 2009. During 2007 South Africa became one of the first countries and the first country in Africa to early accept the proposed accounting standard (exposure draft of an IFRS for SMEs). The accounting standard will probably also be accepted by numerous other countries. The aim of this article is to investigate the applicability of this accounting standard. The results indicated that the IFRS for SMEs remains too comprehensive for the majority of small companies. The IFRS for SMEs does not satisfy the needs of South African users of small company financial statements, and as a result the accounting requirements should be simplified.
KEYWORDS: Financial accounting; Financial reporting requirements; IFRS for SMEs; Small companies; Users of financial statements; Small company financial statements. |
url |
https://sajesbm.co.za/index.php/sajesbm/article/view/27 |
work_keys_str_mv |
AT zkoppeschaar internationalfinancialreportingstandardforsmallandmediumsizedentities |
_version_ |
1724757729325613056 |