XBRL News

XBRL and SMEs

7 August 2006

IASB SME Project

That project is ongoing, and the draft posted is a work in progress, not a finished product.  Further changes, some of which could be substantial, will be made to this draft before the IASB publishes it for public comment.  The IASB has discussed earlier drafts of this ED at public meetings, and this draft reflects the cumulative, tentative decisions made by the conclusion of its meeting in July 2006.  Those tentative decisions have been reported in the newsletter IASB Update. 
 
The IASB has not approved this draft.  The draft is being made publicly available purely for information—to give interested parties an update on the project.  The IASB does not request comments on this draft, and the staff will not be in a position to consider or respond to any comments.  The IASB expects to publish an ED for public comment later this year.

For more information on Accounting Standards for SMEs click here  to visit the SME project page.

XBRL and SME

The IASC Foundation XBRL Team and the IFRS XBRL Development Team (IXDT) are committed to developing a taxonomy for IFRS-SMEs and have begun work considering the potential implications of this project for modelling it in XBRL when it is completed.  There are a number of known taxonomy architecture issues which will be published on the www.iasb.org/xbrl website in the near future - for discussion and feedback by the XBRL community.  Look out for these, beginning later this week.

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