ACCOUNTING FOR SMALL AND MEDIUM ENTERPRISES (SME) – A CONCEPTUAL FRAMEWORK

SMEs sector plays an important role in generating revenue and employment, lending economic stability to the country but accounting for SMEs has become a debateable issue throughout the world. A constant research studies is going on regarding this issue to overcome the problems arising out of it. A Jot of questions are arising regarding accounting for SMEs. Naturally a comparative study is needed to judge the relevance of accounting standards for SMEs of different countries and also with the IFRS. The present paper makes an attempt to give a conceptual framework regarding accounting for SMEs.