The accounting standard IFRS for SMEs sets out simplified requirements designed to meet the needs and capabilities of small and medium-sized entities. On this page you can access a range of articles, books and online resources providing quick links to the standard, summaries, guidance and news of recent developments.
Full-text standard
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.
Online articles
The library provides access to a range of articles in full text from leading business, finance and management journals.
You will need to be logged-in to the website to gain full access to the range of articles available online.
Useful links
ICAEW
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.
Compatibility of the IFRS for SMEs and the directives (ICAEW REP 40/10) (PDF 97.78kb/7 pages)
ICAEW representation to the European Commission consultation, published 19 April 2010.
Press releases
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.
Summaries
Summaries of International Financial Reporting Standards: IFRS for Small and Medium-Sized Entities (IFRS for SMEs)
History and summary from Deloitte IAS Plus.
Small and medium-sized entities
Topic summary provided by PwC, giving latest developments and overview, a summary of the standard and links to relevant resources.
Guides and publications
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 (PDF 281.93kb/8 pages)
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 (PDF 185.7kb/20 pages)
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.
Talking SMEs (PDF 447kb/8 pages)
Publication from Ernst & Young, published April 2010, 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 October 2009.
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.
Tax accounting implications of the new IFRS standard for small and medium-sized entities (SMEs)
Tax alert published by Ernst & Young in August 2009.
IFRS for small and medium-sized entities: Pocket guide 2009
Gide 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 on 31 July 2009 which looks at the planned changes and the options available to UK companies.
Other resources
Articles and books in the Library collection
To find out how you can borrow books from the Library please see our guide to book loans.
You can obtain copies of articles or extracts of books and reports by post, fax or email through our document delivery service.
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