Private Company Accounting Drivers in Asia

DOI: 10.5176/2251-1997_AF67

Authors: Satinder Bhatia

Abstract:

Private company accounting is gaining momentum inall parts of the globe. Ever since the International AccountingStandards Board (IASB) issued International FinancialReporting Standards (IFRS) for Small & Medium Enterprises(SMEs) or private / unlisted companies, there has been agrowing acceptance around the world for mandatoryaccounting disclosures by the private sector. Some Asiancountries have made much headway and have already issuedstandards mandatory for private companies. Others will haveto follow soon as part of good corporate governance practicesto keep alive interest of foreign investors in mergers,acquisitions and other projects.

Keywords: Financial Credibility, Corporate Governance, DealValuation