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The SME world awaits.

Accountancy Age

| July 02, 2009 | COPYRIGHT 2009 Incisive Media, published with the permission of Incisive Media. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

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.

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