The first set of international accounting requirements developed specifically for small and medium-sized entities were issued by the IASB in 2009. The IFRS for SMEs reduces the volume of accounting requirements applicable to SMEs by more than 90 per cent when compared with the full set of IFRSs. More companies than ever are required to bid farewell to UK GAAP and adopt international standards. This course provides an overview of the content of the IFRS for SMEs.
On completion of this online course, you will gain an understanding of:
- which entities can use the IFRS for SMEs
- what adopting the IFRS for SMEs means for a UK company
- who previously followed the FRSSE or full UK GAAP
- which topics are excluded
- which topics have been simplified
- what disclosures are required.