unctad isar accounting and financial reporting guidelines for smes n.
Download
Skip this Video
Loading SlideShow in 5 Seconds..
UNCTAD-ISAR Accounting and Financial Reporting Guidelines for SMEs PowerPoint Presentation
Download Presentation
UNCTAD-ISAR Accounting and Financial Reporting Guidelines for SMEs

Loading in 2 Seconds...

play fullscreen
1 / 17

UNCTAD-ISAR Accounting and Financial Reporting Guidelines for SMEs - PowerPoint PPT Presentation


  • 138 Views
  • Uploaded on

UNCTAD-ISAR Accounting and Financial Reporting Guidelines for SMEs. The Exchange – World Bank Amman, Jordan 18 June 2013. UNCTAD-ISAR -Accounting by SMEs. Outline: Introduction to UNCTAD-ISAR Background to the work on Accounting by SMEs Main features of the SMEGAs

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'UNCTAD-ISAR Accounting and Financial Reporting Guidelines for SMEs' - von


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
unctad isar accounting and financial reporting guidelines for smes
UNCTAD-ISAR Accounting and Financial Reporting Guidelines for SMEs

The Exchange – World Bank

Amman, Jordan

18 June 2013

unctad isar accounting by smes
UNCTAD-ISAR -Accounting by SMEs
  • Outline:
      • Introduction to UNCTAD-ISAR
      • Background to the work on Accounting by SMEs
      • Main features of the SMEGAs
      • Follow-up work on the SMEGA Level 3
introduction unctad isar
Introduction – UNCTAD-ISAR
  • ISAR stands for - the Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting.
  • ECOSOC Resolution 1982/67
  • To promote reliable and comparable corporate reporting.
introduction unctad isar continued
Introduction – UNCTAD-ISARcontinued…
  • Serviced by the United Nations Conference on Trade and Development (UNCTAD)
  • Held 29 annual sessions so far.
  • Close to 300 experts from about 90 countries participate at the annual session of ISAR.
importance of the sme sector
Importance of the SME Sector
  • Employment;
  • Essential goods and services;
  • Export; and
  • Tax base.
smes and access to finance
SMEs and Access to Finance

Source: Bank Financing for SMEs Around the World, Policy Research Working Paper 4785, World Bank, November 2008.

main obstacles for sme financing
Main obstacles for SME financing

Source: Bank Financing to Small and Medium-Sized Enterprises (SMEs) in Colombia, Policy Research Working Paper 4481, World Bank, January 2008.

background accounting by smes
Background – Accounting by SMEs
  • UNCTAD-ISAR Seventeenth Session - July 2000.
  • Growing volume of International Accounting Standards
  • Need for simple, understandable and user-friendly accounting and reporting system designed with SMEs in mind
  • UNCTAD-ISAR Consultative Group on Accounting by SMEs
categorisation of smes
Categorisation of SMEs

Source: Bank Financing to Small and Medium-Sized Enterprises (SMEs) in Colombia, Policy Research Working Paper 4481, World Bank, January 2008.

accounting by smes the approach
Accounting by SMEs – the approach
  • Diversity in categorization of SMEs
  • Qualitative rather than quantitative categorization.
accounting by smes the approach1
Accounting by SMEs – the approach

Three-tiered approach:

  • Public securities or significant public interest;
  • Significant business enterprises, no public securities, no significant public interest; and
  • Smallest entities, owner managed, few employees.
accounting by smes the approach2
Accounting by SMEs – the approach…

Accounting and reporting requirements by category:

  • Full set of IFRS;
  • A condensed set of requirements derived from IAS; and
  • Simple accruals-based accounting system.
follow up activities smega level 3
Follow-up activities – SMEGA Level 3

Updating SMEGA Level 3:

  • Twenty-third session (October 2006) revision of SMEGA Level 3 proposed
  • Completed November 2008
  • One of the main changes - an optional cash flow statement .
follow up activities smega level 31
Follow-up activities – SMEGA Level 3
  • Training for SME owners and employees- in cooperation with Empretec centers
  • Research on the current state of accounting and financial reporting needs of SMEs
for further information
For Further Information:

Please visit the ISAR website at:

http://www.unctad.org/isar

Link to ISAR publications on SMEGAs

http://unctad.org/en/Pages/DIAE/ISAR/Financial-Accounting-and-Reporting.aspx