“The average SME finance director has no time to read proposals from the FRC, if they have indeed heard of the FRC,” admitted Roger Marshall, interim chairman of the Accounting Standards Board (ASB
IFRS for SMEs
The impact of new accounting proposals that are closely aligned with International Financial Reporting Standards (IFRS) could result in many charities breaching loan covenants with their banks.
In this article, Steve Collings outlines the notable differences between current UK GAAP and the proposed ‘Financial Reporting Standard for Mid-Sized Entities’ (FRSME) which will largely affect
In the first of a series of ‘FAQ’ articles, Steve Collings addresses some of the key aspects of the proposed Financial Reporting Standard for Mid-Sized Entities (FRSME).
Following the publication of the ASB’s Financial Reporting Standard for Mid-Tier Entities (FRSME), Steve Collings considers some of the key planning points for the transition ahead.
As the Accounting Standards Board puts the finishing touches to the UK's IFRS for SMEs exposure draft, the board is considering whether to delay practical implementation until 2014-15.
Across the country, practitioners are up in arms about the impracticality of introducing IFRS for SMEs in April 2012.
A new SME Implementation Group has been set up to push forward the drive towards IFRS for SMEs.
When it comes to regulation and compliance, a ‘them and us’ approach can only work to the detriment of practitioners, argues Steve Collings.