COURSE DESCRIPTION: Philippine Financial Reporting Standards for Small Entities (PFRS for SEs) was developed in response to feedback of small entities that PFRS for Small and Medium-sized Entities (PFRS for SMEs) is too complex to apply. By reducing choices for accounting treatment, eliminating topics that are not generally relevant to small entities, simplifying methods for recognition and measurement, and reducing disclosure requirements, the PFRS for SEs allows small entities to comply with the financial reporting requirements without undue cost or burden.

ENTRY COMPETENCIES of Participants (Prerequisites): No technical prerequisites

COURSE OBJECTIVES/LEARNING OUTCOMES Expected from the course program: Appreciate the significance of Philippine financial reporting standards applicable to Small Entities; gain insight into the specific financial reporting standards applicable to Small Entities, and reinforce the principles learned.