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  • IFRS for SMEs Update

IFRS for SMEs Update

29 June 2018

The International Accounting Standards Board (IASB) has published an Update on the IFRS for SMEs.

In the latest Update, it is noted that progress has been made on its education initiative to updatie the complete suite of 35 stand-alone modules designed to provide support to anyone learning about, applying or reading financial statements prepared using the IFRS for SMEs Standard.  To date material on the following 6 modules have been published:

  • Section 1—Small and medium-sized entities;
  • Section 3—Financial Statement Presentation;
  • Section 5—Statement of Comprehensive Income and income Statement;
  • Section 6—Statement of Changes in Equity and Statement of Income and Retained Earnings;
  • Section 7—Statement of Cash Flows; and
  • Section 17—Property, Plant and Equipment.

The IASB for SME Update, including links to the above education material, is available on the IASB’s web site here.