Wednesday 2 September 2009

IFRS for SMEs

Just come back from PRC business trip & then attended an ACCA seminar about IFRS for SMEs. Unexpectedly the seminar is not bored! & I thought that the IFRS for SMEs is really a great tools for SMEs. I wonder when HKICPA will adopt that.

Changing accounting standards are always a disaster to small practitioners like me. We simply may not have enought resources to cope with the fast changing standards. One reason I like the IFRS for SMEs is that the speaker today claimed that they realized the resources issue & promised that there would only be an exposure draft once in THREE years! I think this is really a good policy.
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3 comments:

  1. bittermelon3 September 2009 at 11:44

    我覺得HKICPA唔單只要adoptIRFS for SMEs,公會更應該投放多些資源去支援 local cpa firms.

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  2. Eric CHAN3 September 2009 at 12:08

    Thanks Bittermelon, 100% agree with you. Supoort to local CPA firms are always not enough. However, as an old saying, god help those who help themselves. We have to help ourselves!

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  3. Anonymous6 September 2009 at 21:43

    Dr Paul Pactor is a good role model.

    - another practising CPA

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