thing to do. There does, however, need to be a balance between benefits to users of financial statements with the costs of complying with the standards. Certainly the rising costs to comply with increasingly complex standards must be addressed. The PCFRC indicated that there's currently an imbalance between the mounting burden private companies are experiencing in complying with accounting standards and the minimal benefit certain of those standards provide to the users of private company financial statements. BC43 IFRSs include several differences for entities whose securities are not publicly traded. For example: (a) IFRS 8 Operating Segments requires disclosure of segment information only by entities whose debt or equity instruments are traded or registered for trading in a public market. (b) IAS 27 Consolidated and Separate Financial Statements exempts some parent entities from preparing consolidated financial statements if (i) the parent itself is a subsidiary of an IFRS parent and (ii) its debt or equity instruments are not traded in a public market. Similar exemptions are in IAS 28 Investments in Associates and IAS 31 Interests in Joint Ventures (C) IAS 33 Earnings per Share requires presentation of earnings per share data only by entities whose ordinary shares or potential ordinary shares are publicly traded. Different users' needs and cost-benefit considerations