The Philippine Securities and Exchange Commission (SEC), in its En Banc Resolution dated August 13, 2009, adopted a definition of "small and medium entities" that includes a size criterion.
An entity is an SME if:
a. The entity has total assets of between P3 Million and P350 Million or total liabilities of between P3Million and P250 Million;
b. It is not required to file financial statements under SRC Rule 68.1;
c. It is not in the process of filing its financial statements for the purpose of issuing any class of instruments in a public market;
d. It is not a holder of a secondary license issued by a regulatory agency, such as bank (all types of banks), an investment house, a finance company, an insurance company, a securities broker/dealer, a mutual fund and a pre-need company; and
e. It is not a public utility.
Source: Guide to PFRS for SMEs 2010 Edition
Showing posts with label sec criterion for sme. Show all posts
Showing posts with label sec criterion for sme. Show all posts
Thursday, April 12, 2012
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