IFRS for Small and Medium-sized Entities (SMEs)

The IASB has issued an Exposure Draft of an International Financial Reporting Standard for Small and Medium-sized Entities. The comment deadline is October 1, 2007. The ED presents a simplified, self-contained set of accounting principles for SMEs based on user needs and cost-benefit considerations. A press release states that the English text of the document will be available on the IASB website on February 26, 2007. Spanish, French and German translations are expected in April 2007.