All’s quiet on the IFRS front……
Monday, March 01, 2010
| Posted by: Jenny Brown
Categories:
IFRS for SMEs,
UK GAAP
| Tags: IFRS,
IFRS for SMEs,
ASB,
SMEs,
Jenny Brown,
Not for proft
After weeks of frantic drafting and redrafting of responses to the ASB’s consultation it now feels like the calm before the storm - waiting for the real decisions to start being made….
Although the ASB is keeping us all in the loop it seems there’s very little to get your teeth into. In the Not for profit sector this is a particularly intriguing time - commercial entities can take a pretty good punt on the fact that they will have to implement IFRS for SMEs and there’s the content already available.
For those of us in the not for profit environment, it’s difficult to know what to do. Do we start guessing at how the content of IFRS for SMEs might be interpreted? What about systems upgrades - should they wait until there’s more certainty? Certainly what is possible is to work out a game plan, although the timescales may be a little hazy, change of some type is on the way and now is a good time to start brainstorming about what might need to change and who would be responsible for it…that’s what I’m doing anyway!
What do you think?
Reader Comments (0)