Annual revenue of not more than S$10 million Gross assets of not more than S$10 million Number of employees of not more than 50 Although SFRS for Small Entities are more streamlined and simplified for small and medium enterprises (SME), SMEs should still weigh carefully the cost and benefits...
The combined impact of FRS 12, the Herbert Smith case, and the Revenue's announcement on 20 July 1999, has radically reshaped the tax recognition of accounts provisions. INSET: Provision for foreseeable loss on WIP..Rayney, PeterAccountancy...
For complete set of financial statements, they should comply with the requirements of FRS 101 Other factors to considered in preparing interim financial statements are materiality, recognition and measurement, accounting policies and seasonal, cyclical or occasional revenue and costs. Interim financial repo...