Small firms hail account changes

Thousands of pages of accounting requirements for SMEs will be cut from 2015 under new rules agreed by the Financial Reporting Council yesterday. A plethora of disclosures have been scrapped, easing conditions on SMEs and allowing investors to see past swathes of irrelevant information. As it is based on international standards, it will get UK accountants talking the same international language,” said Deloitte’s Veronica Poole.