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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.

What's on this page?

  • Full-text standard
  • Summaries
  • Guidance and support from ICAEW
  • IASB news
  • Guides
  • Online articles
  • Articles and books from the Library

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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.


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.

ICAEW guidance and support

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)
ICAEW representation to the European Commission consultation, published 19 April 2010.

IASB news

IASB completes comprehensive review of the IFRS for SMEs
Press release issued on 21 May 2015 by the IASB, announcing limited amendments to the standard.

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.

Guides and publications

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.

Training material
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 questions and answers on specific topics produced by the AICPA.

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 Spring 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
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 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.

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.

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.

Other resources

IFRS Learning
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).

Online articles

The Library provides access to leading business, finance and management journals. These journals are available to logged-in ICAEW members, ACA students and other entitled users subject to suppliers' terms of use.

Articles are available to logged-in ICAEW members, ACA students and other entitled users.

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 supply service.

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