IFRS for SMEs proposals

Most of the proposed amendments clarify existing requirements or add supporting guidance, rather than propose changes to the underlying requirements in the IFRS for SMEs.  Consequently, for most SMEs, the proposals are expected to improve understanding of the existing requirements, without having a significant effect on the entity’s financial reporting practices and financial statements.

The proposals are open for comment until 3 March 2014.

Source and more info at: http://www.ifrs.org/Alerts/SME/Pages/IASB-issues-limited-amendments-to-the-IFRS-for-SMEs-October-2013.aspx