This is the only official printed edition of the
International Accounting Standards Board's IFRS for SMEs
Standard (SMEs Standard) that incorporates and is updated by 2015
Amendments to the IFRS for SMEs
(effective for annual reporting periods
beginning on or after 1 January 2017 with early application permitted).
The SMEs Standard has simplifications that reflect the needs of users of SMEs’
financial statements and cost-benefit considerations. Compared with full IFRS
Standards, it is less complex in a number of ways:
• topics that are not relevant
for SMEs are omitted;
• many of the principles for recognising and measuring assets,
liabilities, income and expenses in full IFRS Standards are simplified;
•
significantly fewer disclosures are required;
• the SMEs Standard has been
written in clear, easily translatable language; and
• revisions
to the Standard are not expected to be made more frequently than
once every three years.
It is intended for entities that do not have public
accountability as defined in the IFRS for SMEs
Standard.
This edition is presented
in two volumes, Part A (the requirements) containing the IFRS
for SMEs Standard and Derivation Table, and Part
B containing the accompanying documents such as Basis for Conclusions
and Implementation Guidance.
Number of pages: Part A 256 pages
and Part B is 192 pages. Total 448 pages.