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Introduction
International Financial Reporting Standards (IFRS) is the International Accounting Standards Board (IASB) issued by, a globally recognized easily when countries in the cross-border economic exchanges can perform a standard system to standardize worldwide enterprises or other economic operation of the organization's guiding principles of accounting, so that the economic interests of all countries can be protected on a standard, not because of the inconsistencies lead to the same criteria for the calculation and unnecessary economic losses. International Financial Reporting Standards (IFRS) are a growing number of countries and companies directly or indirectly use, especially in the EU since 2005 listed companies in its member states to force the implementation of IFRS; This paper will discuss the Taiwan will face-lift requires its listed companies to IFRS implementation. Widespread use of IFRS has brought a lot of research opportunities, so this is a hot area of research, attracting the attention of many researchers.
The term ‘Small and Medium-sized Entities (SME’s), has different meanings indifferent jurisdictions. The definition in the context of the International Financial Reporting Standards (IFRS) for SMEs is entities that do not have public account ability and publish general purpose financial statements or follow generally accepted accounting principles (GAAP). Every entity has some for muff accountability, if only to its owners and the local tax authorities. Public account ability is defined to cover entities with or seeking to have securities traded in a public market or that hold assets in a fiduciary capacity as their main business activity. The definition is therefore based on the nature of an entity rather than on its size. In Uganda, 80 percent of all businesses are SMEs and only a handful lives past their first anniversary (World Bank 2009). This is further supported by the absence or under utilization of laid out finance https://www.51lunwen.org/Accounting/2012/0221/1054165021.html management systems (Traidlinks, 2010).This is further flanked by survey done by ICPAU5The IFRS for SMEs was published in July 2009. It is a matter for authorities in each territory to decide which entities are permitted or even required to apply IFRS for SMEs. There are no equivalent under IFRS; Individual countries are each responsible for policing compliance.

Issued by the International Accounting Standards Board guidelines as IFRS (International Financial Reporting Standards), the world has more than one hundred and fifteen state enterprises to adopt IFRS financial statements, IFRS is characterized by Principles (principle-based) standards set specifications, focusing on the conceptual framework and spirit of the formulation does not set rules, only the standard economic substance of accounting principles, in order to avoid restrictions on the rules and ignore the substance of the transaction, the user is more convenient .

Challenges
With the promulgation of International Financial Reporting Standards, the guidelines gradually been accepted by all countries and start applications. The world over, SMEs contribute 90% of the private sector production and they are prime sources of new jobs in developing countries and play a crucial role in income generation especially for the poor (SME Business Guide 2010). For their progress, SMEs are required to keep books of accounts and several companies irrespective of their size are bound by the statutory rules of a partic本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。