IFRS for SMEs

IFRS for SMEs provides a practical and comprehensive understanding of the International Financial Reporting Standard for Small and Medium-sized Entities. The course focuses on the recognition, measurement, presentation and disclosure requirements specifically designed for entities that do not have public accountability.

The IFRS for SMEs Standard simplifies many of the recognition and measurement principles found in full IFRS while maintaining high-quality financial reporting. It reduces complexity in areas such as financial instruments, goodwill, deferred tax, borrowing costs and disclosures, making it more suitable for privately held entities.

This course equips participants with the knowledge and practical tools to prepare, interpret and analyse financial statements in accordance with IFRS for SMEs. It also highlights the key differences between full IFRS and IFRS for SMEs, ensuring accurate application and compliance.

TARGET COMPETENCIES

This IFRS Training comprehensive course will enable participants to appreciate and understand the following target competencies:

• Understand the scope and structure of IFRS for SMEs

• Identify entities eligible to apply IFRS for SMEs

• Apply recognition and measurement principles

• Understand simplified financial instrument requirements

• Account for property, plant and equipment and intangible assets

• Apply revenue recognition principles

• Understand income tax accounting under IFRS for SMEs

• Prepare compliant financial statements

• Identify key differences between full IFRS and IFRS for SMEs

WHO SHOULD ATTEND?

This course is designed for professionals responsible for preparing or reviewing financial statements of small and medium-sized entities.

• Accounting Professionals

• Finance Managers

• Chief Financial Officers

• Accounts Managers

• Accountants

• Auditors

• Financial Consultants

• Business Owners

• Analysts

Organisations consider this course an excellent opportunity to strengthen financial reporting skills and ensure compliance with IFRS for SMEs requirements.

COURSE OUTLINE

Introduction to IFRS for SMEs

• Scope and objectives

• Structure of the Standard

• Comparison with full IFRS

Presentation of Financial Statements

• Statement of financial position

• Statement of comprehensive income

• Statement of changes in equity

• Statement of cash flows

• Notes and disclosures

Financial Instruments

• Basic vs other financial instruments

• Measurement principles

• Impairment

Assets

• Property, plant and equipment

• Intangible assets including goodwill

• Investment property

• Inventories

Liabilities and Equity

• Provisions and contingencies

• Borrowing costs

• Government grants

Revenue and Income Taxes

• Revenue recognition principles

• Deferred tax basics

Transition to IFRS for SMEs

• First-time adoption considerations

• Practical implementation guidance

VENUE

Choice between In-house / External Venue / Live Online Classroom

Do you have more people interested in attending this course? Would you like to tailor it to meet your company’s exact requirements? We can deliver this course at your organisation’s premises, helping you reduce costs and increase return on investment.

If you require a customised learning solution, our specialists will guide you from consultation through to evaluation to ensure maximum training impact.