InterviewSolution
Saved Bookmarks
InterviewSolution
| 1. |
What Might Make Some Private Companies In The United States Adopt Ifrs? |
|
Answer» The eventual adoption of IFRS by small businesses and not-for-profit organizations is likely to be market driven. The IASB has developed a version of IFRS for small and medium-size entities that would minimize complexity and REDUCE the cost of financial statement preparation, yet allow USERS of those entities' financial statements to assess financial position, CASH FLOWS, and performance. IFRS for Small and Medium-sized Entities (IFRS for SMEs) was released on July 9, 2009. The eventual adoption of IFRS by small businesses and not-for-profit organizations is likely to be market driven. The IASB has developed a version of IFRS for small and medium-size entities that would minimize complexity and reduce the cost of financial statement preparation, yet allow users of those entities' financial statements to assess financial position, cash flows, and performance. IFRS for Small and Medium-sized Entities (IFRS for SMEs) was released on July 9, 2009. |
|