Level i entities

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

14 November 2013 In the introductory part to accounting standards Level I enterprises are defined as Non Corporate entities which fall in any of the following categories:
1. Entities whose equities or debt securities are listed or in the process of listing on any stock exchange.
What does Non corporate entities listed on stock exchange or in the process of listing mean?It is obvious that only corporate entities shares are listed on stock exchange.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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15 November 2013 agreed friend. possible that they borrowed this clause from some foreign accounting regulations as in many countries non-corporate entities are allowed to list their securities on exchanges. For eg Hongkong allows that.

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