088 An exposure draft of the basic plan for the SMEs’ accounting.
SME Agency and Financial Services Agency as a head office issued on November 8 2011 an exposure draft of the basic plan for the SMEs’ accounting. This shows how to dealt with the accounting treatment and presentation of the financial statements in order not to impose too much burden on SMEs while the financial statements are prepared according to the calculation guidance of Company Act.
Since it does not seem beneficial to ask SMEs to apply the same standards as the listed companies or large-sized companies, we think that this announcement is beneficial to SMEs.
The comment period of the exposure draft closes on Dec. 7, 2011.
