Small outfit, big world
13 September 2012
What will the effect of International Standards be on small or medium-sized entities? And, with more change to come, is it worth getting in there early?
Small and medium sized firms (SMEs) – by definition not listed or on AIM – are not bound to adopt the new International Financial Reporting Standards (IFRS), due to come in for all companies listed on regulated markets in the EU from 1 January 2005.
However, they can change over to IFRS if they wish, and there are certain things they should consider before...