The accounting standard IFRS for SMEs sets out simplified requirements designed to meet the needs and capabilities of small and medium-sized entities. Find articles, books and online resources providing quick links to the standard, summaries, guidance and news of recent developments.
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The International Accounting Standards Board (IASB) provides free access to IFRS for SMEs in a number of languages through its website – you will need to register to gain access.
IFRS for Small and Medium-Sized Entities (IFRS for SMEs)
Timeline and summary from Deloitte IAS Plus, with information on related interpretations and amendments under consideration.
Financial Reporting Faculty
The faculty offers assistance and support in IFRS, UK GAAP and other aspects of business reporting. It offers technical briefings and factsheets, IFRS and UK GAAP standards-trackers, plus practical advice from industry experts and working accountants.
IASB publishes IFRS for SMEs
Press release issued by the IASB on 9 July 2009.
ASB seeks views on proposals for the future reporting requirements for UK and Irish entities
Press release issued by the Accounting Standards Board on 11 August 2009 with details of a proposal to implement IFRS for SMEs in the place of existing UK Financial Reporting Standards.
Some guides and comparisons that we link to may pre-date the latest amendments to this standard. While these resources contain useful information, please treat them with appropriate caution.
Modules developed by the IFRS Foundation for each section of IFRS for SMEs giving summaries, worked examples, commentary, comparison with full IFRSs and tests. Free registration is required to download modules.
IFRS for SMEs: A guide for micro-sized entities applying the IFRS for SMEs (2009)
Guide published by the IASB in June 2013 with illustrative examples.
Questions and Answers about the IFRS for SMEs
A series of non-mandatory guidance in the form of questions and answers on specific topics produced by the IASB.
Guide to the IFRS for SMEs
Guide written for lenders, creditors, owner-managers and others who use SME financial statements. Published in October 2010 by the IASB.
Summary of the Consultation on IFRS for SMEs
Report published by the European Commission in May 2010.
IFRS and not for profit entities
Report produced by BDO on how IFRS for SMEs may affect charities, housing associations, higher and further education institutions and other not-for-profit organisations. Published in March 2010.
Consultation on the International Financial Reporting Standard for Small and Medium-sized Entities
Consultation by the European Commission that took place between November 2009 and March 2010.
Publication from Ernst & Young, published June 2012, that considers topical issues on the IFRS for SMEs.
A Guide Through IFRS for Small and Medium-Sized Entities (SMEs)
Guide published by RSM International in November 2012.
A comparison of IFRS for SMEs and ‘full IFRS’
Guide from PwC published in September 2009 which focuses on a selection of differences most commonly found in practice.
IFRS for small and medium-sized entities: Pocket guide 2009
Guide from PwC which provides a summary of the recognition and measurement requirements in the IFRS for SMEs. PwC has published a series of guides on IFRS for SMEs which are available from CCH.
IFRS Briefing Sheet: IFRS for Small and Medium-sized Entities
Briefing (Issue 144) published by KPMG on 22 July 2009.
Choosing your GAAP – Planning for the proposed removal of UK GAAP
Guide published by Deloitte in November 2013 which looks at the broader implications of changing accounting frameworks.
Interactive training modules from Deloitte with practical scenarios, worked examples and questions to test your knowledge. Each module is available to download as a zip file free of charge (registration is required).
Articles are available to logged-in ICAEW members, ACA students and other entitled users.
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