Title

A Simpler Standard for Small Entities

Publication Type

Book Chapter

Version

Publisher’s Version

Publication Date

2013

Abstract

In Singapore and many other countries around the world, laws or regulations require most small and medium-sized entities (SMEs) to publish general purpose financial statements and have them audited (typically subject to an audit exemption threshold). The rational is that stakeholders such as banks, suppliers, customers, rating agencies, venture capitalists, and outside investors all use the financial statements of SMEs to make lending, credit and investment decisions. SMEs also have incentive to provide high quality and comparable information to their stakeholders because high quality financial information will help them to reduce their cost of both debt and equity capital.

Keywords

accounting, small enterprises, Singapore

Discipline

Accounting

Research Areas

Corporate Reporting and Disclosure

Publication

Getting your Accounting Right

First Page

103

Last Page

114

ISBN

9789810766641

Publisher

SMU and CPA Australia

City or Country

Singapore

Embargo Period

1-13-2014