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Round Table Discussion: The Impact of the SME Accounting
Standards on the Developing and Emerging Countries
- Bangkok, Thailand, 29 -
30 May 2008
The Federation of Accounting Professions (FAP) Thailand
hosted the Round Table Discussion and Seminar on the
Accounting of Small and Medium Entities (SMEs) and
co-hosted by the World Bank was held from 29-30 May 2008
in Bangkok, Thailand.
The Round Table Discussion and Seminar on the Accounting
of SMEs were aimed at providing an opportunity for
national and international accountancy bodies, standard
setters, and other interested parties to debate and
comment on various issues involving the IFRS for SMEs
and to arrive at general conclusions among ASEAN
countries on the financial reporting guidelines suitable
for ASEAN SMEs and to raise public awareness of the
potential opportunities and threats that the IFRS for
SMEs may pose to these types of business.
Specific topics that were addressed at the forum
include:
• Definitions and characteristics of SMEs.
• Reporting model for different types of entities such
as micro businesses, the SMEs.
• Potential Implementation issues.
• Framework for the preparation of financial statements
for SMEs.
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