MyCIMA

SMEs

  • SMEs must set their sights on sustainability
    Blog Entry
    30/11/2011 - 11:25am

    Sustainability is becoming as much of an important part of a large company’s annual reporting as their financials. But SMEs are catching up and recognising that acting sustainably brings business benefits.  

  • Simpler reporting for the smallest businesses
    Blog Entry
    19/09/2011 - 4:54pm

    The Department of Business, Innovation and Skills (BIS) and the Financial Reporting Council (FRC) have launched a consultation seeking views on a simplified reporting regime for ‘micro-entities'.

    It is proposed that a micro-entity is a company or unincorporated business that trades for profit and does not exceed two of the three following criteria:

  • Reaction to riots shows a better side of UK
    Blog Entry
    12/08/2011 - 5:09pm

    If the recent civil disturbances in England showed the worst side of human nature, the aftemath shows a more positive side.  Both the army of volunteers cleaning up affected areas (Riot Wombles, RiotCleanup)

  • TV motivates and educates aspiring entrepreneurs
    Blog Entry
    22/03/2011 - 4:53pm

    Is watching the Apprentice a guilty pleasure?  how about Dragon's Den?  or The Secret Millionaire?  You need feel guilty no longer because apparently all these shows are educational.

  • Thought about entering the Climate Week Awards? Deadline is 4 Feb 2011
    Blog Entry
    05/01/2011 - 1:20pm

    Climate Week is happening this year between 21-27 March. It's an opportunity for UK companies (small and large) to share the positive steps they've taken to tackle and reduce climate change.

    They run awards that celebrate the UK’s most innovative, effective, and ambitious organisations, communities and individuals and their outstanding efforts to combat climate change.

  • The Future of UK GAAP
    Discussion topic
    25/11/2010 - 1:35pm
    The UK Accounting Standards Board has issued two exposure drafts (ED43 & ED44) which set out proposals for a three-tier reporting framework in the UK and Ireland.  The proposed approach builds on the existing system. Quoted groups will continue to report under international financial reporting standards (IFRS), as adopted by the EU.

    They would be joined in Tier 1 by other companies that are publicly accountable. This would apply if their debt is traded on public markets or if they hold deposits or manage other people's money.

  • XBRL Concerns
    Blog Entry
    07/01/2010 - 12:40pm

    XBRL implementation is gathering pace (see my blog XBRL - more than just a regulatory tool ? ) and alongside I am starting to hear concerns with the way things are progressing.  There are worries about the impact of XBRL on internal management accounting and also concerns linked with the proposed switch to IFRS for SMEs in the UK.  On a positive note, the European Federation of Accountants (FEE) has produced a useful project update on XBRL which is well worth a read.

  • EC Consultation on IFRS for SMEs
    Discussion topic
    06/01/2010 - 4:16pm

    As part of the ongoing review of its Accounting Directives the European Commission has instigated a consultation seeking views from stakeholders on the IASB’s IFRS for SMEs.  Comments are requested by 12 March 2010.