Home  Journals  International Accounting  4(136) - 2010 April

International Financial Reporting Standard for Small and Medium-sized Entities

Available online: 9 April 2010

Subject Heading: REFORMING OF ACCOUNTABILITY

JEL Classification: 

Distribution of the International Financial Reporting Standards as the systems, allowing to represent the financial reporting of the organizations in a uniform format, was marked by an output of new standards for the small and medium-sized entities. The document is actual, as the share of the small and medium-sized entities in sectors of economy of the developed countries reaches ninety percent.
     Article analyzes a format and structure of the new document, represents the basic simplifications brought in it in comparison with full version of the International Financial Reporting Standards. The author assumes, that, considering a modern condition of system of the Russian book keeping, introduction of the International Financial Reporting Standard for Small and Medium-sized Entities in Russia will not keep itself waiting long.

Keywords: International Financial Reporting Standard for Small and Medium-sized Entities, the basic simplifications, structure of the standard, the Preface of the standards

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ISSN 2311-9381 (Online)
ISSN 2073-5081 (Print)

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