IFRS for SMEs - publications

What is the 'IFRS for small and medium-sized entities'?

  • A standard for entities in countries that have no national GAAP.
  • An alternative IFRS standard in those countries that have national GAAP.
  • A standard for entities that are not of the size nor have the resources to adopt full IFRS.

What are the main features of the IFRS for small and medium-sized entities?

  • Volume of accounting guidance reduced by more than 85% compared with the full IFRS.
  • Detailed explanation and requirements relating complex circumstances not usually applicable to SMEs largely omitted
  • Little implementation guidance
  • Reduced disclosure requirements
  • Simplified recognition and measurement requirements
  • Self-contained – no reference back to full IFRS

 How PwC can help

PwC has a number of tools to help with the application of the IFRS for SMEs standard. See our materials below. Click here for an overview of the standard.


Recent publications

Similarities and differences - a comparison of IFRS for SMEs and 'full IFRS' (850kb) IFRS for SMEs - Pocket Guide (729kb) IFRS for SMEs - Illustrative consolidated financial statements 2010 (920kb)
     
 
IFRS for SMEs: A less taxing standard? (3.12mb)		  

More comparisons of IFRS for SMEs and local GAAPs are available here.