Exposure Drafts for Small and Medium-sized Entities

The International Accounting Standards Board has published for public comment the Exposure Draft of its International Financial Reporting Standard for Small and Medium-sized Entities.

English:

• Exposure Draft of a Proposed IFRS for Small and Medium-sized Entities
• Exposure Draft of a Proposed IFRS for Small and Medium-sized Entities - Basis for Conclusions
• Exposure Draft of a Proposed IFRS for Small and Medium-sized Entities- Draft Implementation Guidance - Illustrative Financial Statements and Disclosure Checklist

Spanish:

• Proyecto de Norma - Norma Internacional de Información Financiera para Pequeñas y Medianas Entidades

• Fundamentos de las Conclusiones sobre el Proyecto de Norma - Norma Internacional de Información Financiera para Pequeñas y Medianas Entidades

• Proyecto de Guía de Implementación, Estados Financieros Ilustrativos y Lista de Comprobación de Información a Revelar - Proyecto de Norma - Norma Internacional de Información Financiera para Pequeñas y Medianas Entidades

French:

• Exposé-sondage-norme internationale d’information financière pour les petites et moyennes entités
• Base des conclusions sur l’exposé-sondage - norme internationale d’information financière pour les petites et moyennes entités
• Guide d’application [projet], Exemples d’états financiers et liste d’informations à fournir, Exposé-sondage - norme internationale d’information financière pour les petites et moyennes entités

German:

• Entwurf eines vorgeschlagenen IFRS für kleine und mittelgrosse Unternehmen
• Grundlage für Schlussfolgerungen zum Entwurf IFRS für kleine und mittelgrosse Unternehmen
• Entwurf der Umsetzungsleitlinien IFRS für kleine und mittelgrosse Unternehmen - Musterabschluss und Angabecheckliste

Polish:

• Project Międzynarodowy Standard Sprawozdawczości Finansowej Dla Małych I Średnich Przedsiębiorstw

Romanian:

• Proiect de expunere de Standardul Internaţional de Raportare Financiară pentru Întreprinderi Mici şi Mijlocii (IFRS pentru IMM)
• Baza pentru concluzii la Proiectul de Expunere IFRS pentru entităţi mici şi mijlocii
• Proiect de Ghid de Implementare
  IFRS pentru entităţi mici şi mijlocii
  Situaţii financiare ilustrative şi liste de identificare a prezentării informaţiilor
  

The aim of the proposed standard is to provide a simplified, self-contained set of accounting principles that are appropriate for smaller, non-listed companies and are based on full International Financial Reporting Standards (IFRSs), developed primarily for listed companies. By removing choices for accounting treatment, eliminating topics that are not generally relevant to SMEs and simplifying methods for recognition and measurement, the resulting draft standard reduces the volume of accounting guidance applicable to SMEs by more than 85 per cent when compared with the full set of IFRSs. As a result, the Exposure Draft offers a workable, self-contained set of accounting standards that would allow investors for the first time to compare SMEs’ financial performance across international boundaries on a like for like basis.

Comments to be received by the 1 October 2007.