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Byline: Mario Christodoulou
The SME world awaits
Mario Christodoulou
In the bowels of a white modernist office building on LondonA-s Cannon Street sits a 300-page document with the potential to change the way 98% of companies around the world do business, forever.
Destined to sit in the offices of accountants the world over, the document contains a global accounting language aimed at helping SMEs talk to each other.
In July, the International Accounting Standards Board will release the long-awaited tome which could result, in years to come, in mum and pop businesses in Cairo speaking the same financial language as those in Tokyo, Sydney, Delhi, St Petersburg or anywhere else around the world.
The document, at least six years in the making, could act as the Rosetta Stone of global small business accounting.