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Tuesday 22 July 2014

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Project history

SME Questionnaire


On 11 April 2005, the IASB published a staff questionnaire on possible modifications of the recognition and measurement principles in IFRSs for use in IASB standards for small and medium-sized entities (SMEs).

The IASB plans to hold public round-table meetings with preparers and users of the financial statements of SMEs, most likely in September 2005, to discuss possible recognition and measurement modifications. The questionnaire has been prepared by the staff of the IASB as a tool to identify issues that should be discussed at those round-table meetings. Response deadline is 30 June 2005. The questionnaire contains two questions:

Question 1:

What are the areas for possible simplification of recognition and measurement principles for SMEs? In responding, please indicate:

  • the specific accounting recognition or measurement problem for an SME under IFRSs;
  • the specific transactions or events that create the recognition or measurement problem for an SME under IFRSs;
  • why is it a problem; and
  • how that problem might be solved.

Question 2:

From your experience, please indicate which topics addressed in IFRSs might be omitted from SME standards because they are unlikely to occur in an SME context. If they occur, the standards would require the SME to determine its appropriate accounting policy by looking to the applicable IFRSs.

Related information

  • Download the questionnaire
  • Download the comment letters received on the questionnaire [zip file]