I received an email late yesterday from the IASB with the following message: The Inter­na­tional Accounting Standards Board (IASB) issued today an Inter­na­tional Financial Reporting Standard (IFRS) designed for use by small and medium-sized entities (SMEs), which are estimated to represent more than 95 per cent of all companies. The standard is a result of […]

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The CICA announced late last year a draft version of a new accounting framework for small, owner-managed businesses. The framework is being developed because these types of companies don’t have complex reporting needs like public companies, non-profit organi­za­tions, or private companies with signif­icant third party investors or creditors. I haven’t begun working on public company […]

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