BC152.

The Board considered whether an entity using the IFRS for SMEs should be
allowed to choose to apply a recognition or measurement principle permitted in a
full IFRS that differs from the principle required by the related section of th
e IFRS for SMEs.
BC153. Some proposed that the IFRS for SMEs should, in effect, contain optional s
implifications of IFRSs . Within this group, there were two schools of thought:
(a) One school would permit SMEs to revert to full IFRSs principle by principle,
while otherwise continuing to use the IFRS for SMEs.
(b) The second school would permit SMEs to revert to a full IFRS in its entirety
, but not principle by principle within an IFRS, while otherwise continuing to u
se the IFRS for SMEs. Those who hold this view believe that the recognition and
measurement principles in a full IFRS are so interrelated that they should be re
garded as an integrated package.
BC154. The alternative view is that an entity should be required to choose only
either the complete set of full IFRSs or the complete IFRS for SMEs. The Board i
s of that view (with the sole exception of the option to apply IAS 39 for the re
asons set out in paragraph BC106). Allowing SMEs optionally to revert to full IF
RSs either principle by principle or standard by standard, while continuing to f
ollow the IFRS for SMEs for other transactions and circumstances, would result i
n significant non-comparability. Undesirably, SMEs would have almost an infinite
array of combinations of accounting policies from which to choose.
BC152. The Board considered whether an entity using the IFRS for SMEs should be
allowed to choose to apply a recognition or measurement principle permitted in a
full IFRS that differs from the principle required by the related section of th
e IFRS for SMEs.
BC153. Some proposed that the IFRS for SMEs should, in effect, contain optional s
implifications of IFRSs . Within this group, there were two schools of thought:
(a) One school would permit SMEs to revert to full IFRSs principle by principle,
while otherwise continuing to use the IFRS for SMEs.
(b) The second school would permit SMEs to revert to a full IFRS in its entirety
, but not principle by principle within an IFRS, while otherwise continuing to u
se the IFRS for SMEs. Those who hold this view believe that the recognition and
measurement principles in a full IFRS are so interrelated that they should be re
garded as an integrated package.
BC154. The alternative view is that an entity should be required to choose only
either the complete set of full IFRSs or the complete IFRS for SMEs. The Board i
s of that view (with the sole exception of the option to apply IAS 39 for the re
asons set out in paragraph BC106). Allowing SMEs optionally to revert to full IF
RSs either principle by principle or standard by standard, while continuing to f
ollow the IFRS for SMEs for other transactions and circumstances, would result i
n significant non-comparability. Undesirably, SMEs would have almost an infinite
array of combinations of accounting policies from which to choose.
BC152. The Board considered whether an entity using the IFRS for SMEs should be
allowed to choose to apply a recognition or measurement principle permitted in a
full IFRS that differs from the principle required by the related section of th
e IFRS for SMEs.
BC153. Some proposed that the IFRS for SMEs should, in effect, contain optional s
implifications of IFRSs . Within this group, there were two schools of thought:
(a) One school would permit SMEs to revert to full IFRSs principle by principle,
while otherwise continuing to use the IFRS for SMEs.
(b) The second school would permit SMEs to revert to a full IFRS in its entirety
, but not principle by principle within an IFRS, while otherwise continuing to u
se the IFRS for SMEs. Those who hold this view believe that the recognition and
measurement principles in a full IFRS are so interrelated that they should be re
garded as an integrated package.
BC154. The alternative view is that an entity should be required to choose only
either the complete set of full IFRSs or the complete IFRS for SMEs. The Board i
s of that view (with the sole exception of the option to apply IAS 39 for the re
asons set out in paragraph BC106). Allowing SMEs optionally to revert to full IF

RSs either principle by principle or standard by standard, while continuing to f

ollow the IFRS for SMEs for other transactions and circumstances, would result i
n significant non-comparability. Undesirably, SMEs would have almost an infinite
array of combinations of accounting policies from which to choose.
BC152. The Board considered whether an entity using the IFRS for SMEs should be
allowed to choose to apply a recognition or measurement principle permitted in a
full IFRS that differs from the principle required by the related section of th
e IFRS for SMEs.
BC153. Some proposed that the IFRS for SMEs should, in effect, contain optional s
implifications of IFRSs . Within this group, there were two schools of thought:
(a) One school would permit SMEs to revert to full IFRSs principle by principle,
while otherwise continuing to use the IFRS for SMEs.
(b) The second school would permit SMEs to revert to a full IFRS in its entirety
, but not principle by principle within an IFRS, while otherwise continuing to u
se the IFRS for SMEs. Those who hold this view believe that the recognition and
measurement principles in a full IFRS are so interrelated that they should be re
garded as an integrated package.
BC154. The alternative view is that an entity should be required to choose only
either the complete set of full IFRSs or the complete IFRS for SMEs. The Board i
s of that view (with the sole exception of the option to apply IAS 39 for the re
asons set out in paragraph BC106). Allowing SMEs optionally to revert to full IF
RSs either principle by principle or standard by standard, while continuing to f
ollow the IFRS for SMEs for other transactions and circumstances, would result i
n significant non-comparability. Undesirably, SMEs would have almost an infinite
array of combinations of accounting policies from which to choose.
BC152. The Board considered whether an entity using the IFRS for SMEs should be
allowed to choose to apply a recognition or measurement principle permitted in a
full IFRS that differs from the principle required by the related section of th
e IFRS for SMEs.
BC153. Some proposed that the IFRS for SMEs should, in effect, contain optional s
implifications of IFRSs . Within this group, there were two schools of thought:
(a) One school would permit SMEs to revert to full IFRSs principle by principle,
while otherwise continuing to use the IFRS for SMEs.
(b) The second school would permit SMEs to revert to a full IFRS in its entirety
, but not principle by principle within an IFRS, while otherwise continuing to u
se the IFRS for SMEs. Those who hold this view believe that the recognition and
measurement principles in a full IFRS are so interrelated that they should be re
garded as an integrated package.
BC154. The alternative view is that an entity should be required to choose only
either the complete set of full IFRSs or the complete IFRS for SMEs. The Board i
s of that view (with the sole exception of the option to apply IAS 39 for the re
asons set out in paragraph BC106). Allowing SMEs optionally to revert to full IF
RSs either principle by principle or standard by standard, while continuing to f
ollow the IFRS for SMEs for other transactions and circumstances, would result i
n significant non-comparability. Undesirably, SMEs would have almost an infinite
array of combinations of accounting policies from which to choose.
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