What IS the Differece between SMCs & SMEs
1 Replies
sai
(student)
(48 Points)
Replied 03 July 2010
SMCs-Small and Medium Companies-As per Companies Accounting Standard Rules-Please refer rules - available on www.icai.org in ASs' Section
SMEs-Small and Medium Enterprises-As per ICAI's classification: Please refer icai.org in ASs' Section.
Basically, ASs issued by ICAI are applicable to all forms of enterprises: whereas Companies have to follow ASs prescribed by Companies(Accounting Standards) Rules.So, the classification of enterprises is littlebit different.
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