SME to give feedback on accounting rules
June 8, 2007
Proposed changes to accounting standards
Small and medium enterprises (SMEs) have been asked to give their feedback for a new financial reporting standard by the International Accounting Standards Board.
The Board is considering a simpler accounting standard for SMEs which will cut the accounting load for small businesses by more than 85%, said industry sources. However, it could also make it more difficult when the firms decide to list on the stock market.
Local businesses have till 1 September to give their feedback.
Source: “SMEs urged to give feedback on financial reporting standard“, Channel News Asia, 7 June 2007
Entry Filed under: Accounting, Singapore. .
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