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Small and Medium Enterprises now have a choice between full IFRS and IFRS for SMEs. IFRS for SMEs is a stand-alone document which is a simplified version of IFRS, meant to reduce some of the complexity and burden of accounting for private companies. There is no limitation on the size of the company. For the most part, the users of financial statements have the ability to ask for more information than is included in the financial statements should they require it. Therefore, there exists the opportunity for small and medium enterprises to reduce their accounting complexity. Different jurisdictions around the world have decided whether or not they are recognizing IFRS for SMEs. Canada and the US have not yet agreed to adopt IFRS for SMEs.

This course provides an overview of the key differences between IFRS for SMEs and full IFRS. It highlights some key differences with IFRS and presents the reconciling items where a parent and subsidiary decide to use different accounting platforms.

Topics covered

  • Overview of IFRS for SMEs
  • Differences between IFRS for SMEs and full IFRS
  • Reconciling items where parent uses full IFRS and subsidiary uses IFRS for SMEs
  • Fules related to the first-time adoption of IFRS for SMEs
  • Implementation guidance
  • Where to stay updated and get more information

Workshop format

This workshop is highly interactive. Participants will see the impact of the new accounting standards first hand by working through exercises and reviewing statements prepared using different accounting standards.

Who will benefit

This course is an introduction to IFRS for SMEs. It is intended for accountants looking to updates themselves on the new accounting standards as well as analysts, managers, Senior Executives of small and medium-sized enterprises and/or private companies looking to understand the differences between IFRS for SMEs and full IFRS.

Price: $649


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