What might make some private companies in the United States adopt IFRS?
The eventual adoption of IFRS by small businesses and not-for-profit organizations is likely to be market driven. The IASB has developed a version of IFRS for small and medium-size entities that would minimize complexity and reduce the cost of financial statement preparation, yet allow users of those entities’ financial statements to assess financial position, cash flows, and performance. IFRS for Small and Medium Entities (SME) was released on July 9, 2009. You can view questions and answers developed by the AICPA regarding IFRS for SMEs here.
Related Questions
- If the United States mandates IFRS for publicly traded companies, will private companies and not-for-profit organizations be required to adopt IFRS?
- What might make some private companies or non-profit organizations in the United States adopt IFRS?
- What might make some private companies in the United States adopt IFRS?
