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Basics on NFRS for SMEs

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NFRS for SMEs Section 1 description. Definition of SMEs. 2 requirements
1. No Public Accountability
2. Publish general purpose Financial Statements for External users
Public Accountability: Securities traded publicly, Fund use in fiduciary capacity, Government Owned Entities.
Economic Significance below NFRS and above MEs. Loan and Fiduciary capacity fund 5 Crore to 50 Crore. Turnover and SoFP total 10 Crore to 100 Crore.
1. No Public Accountability
2. Publish general purpose Financial Statements for External users
Public Accountability: Securities traded publicly, Fund use in fiduciary capacity, Government Owned Entities.
Economic Significance below NFRS and above MEs. Loan and Fiduciary capacity fund 5 Crore to 50 Crore. Turnover and SoFP total 10 Crore to 100 Crore.