IFRS: IFRS for SMEs

by Wayne Bartlett

Part of a series on 2023-24 IFRS. IFRS for SMEs is in the process of being updated. An Exposure Draft was issued for comment in 2022 and closed for remarks in March 2023. So what does the future hold for this vital standard, and what do we need to know to stay up to date?

This course is not currently available

This module will enable you to

  • Clarify the basic approach and aims of IFRS for SMEs.
  • Consider the drivers for change in updating the standard.
  • Discuss key details outlined in the Exposure Draft, including changes to the Conceptual Framework, and issues with fair value measurement.
  • Outline common implementation issues.

About the module

Small and medium-sized enterprises are the backbone of many economies, and tailored IFRS standards are essential to improve access to capital, streamline financial reporting, and ensure accurate financial information, especially during times of economic change and recovery.

IFRS for SMEs simplifies financial reporting for smaller businesses by offering a cost-effective, streamlined framework. It first appeared in 2009, and since then it has been updated by regular reviews. So what does the future hold for this vital standard, and what do we need to know to stay up to date?

Look inside

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Contents

  • IFRS for SMEs
    • Key changes
    • Routine maintenance?
    • IFRS for SMEs
    • The Exposure Draft
    • Fair value measurement
    • Implementing IFRS for SMEs

How it works

Author

Wayne Bartlett

Wayne is an internationally acclaimed speaker and trainer on all aspects of public and private sector accounting and auditing standards. He has been instrumental in helping to develop the profession internationally and has taken lead roles in the development of new professional bodies and the accounting profession in Mozambique and Rwanda, and been extensively involved in developing financial reporting in many countries across the globe.

Reviews

More in this series

Take a look more modules from the series: 2023-24 IFRS

This course is not currently available. To find out more, please get in touch.