On 21 May the International Accounting Standards Board (IASB) issued limited amendments to the
IFRS for SMEs. The document containing the amendments only included those paragraphs/subparagraphs of the
IFRS for SMEs that have been updated by the amendments. The IFRS Foundation plans to issue a complete revised 2015 edition of the
IFRS for SMEs (a version with all the amendments incorporated that has also been subject to a full editorial review) in the third quarter of 2015.
Useful Links:
- 2015 Amendments to the IFRS for SMEs can be found here.
- the Project Summary and Feedback Statement can be found here.
- background information on the comprehensive review can be found here.
Since the
IFRS for SMEs was issued in 2009, the IFRS Foundation Education Initiative has been developing comprehensive free-to-download training material to support the implementation of the
IFRS for SMEs. The training material is available in five languages. The available modules of the training material can be downloaded
here in PDF format.
So far the IFRS Foundation has published training modules to support 34 of the 35 sections of the
IFRS for SMEs. The IFRS Foundation expects to issue the remaining module, Module 12 Other
Financial Instruments Issues, in the third quarter of 2015.
For more details, click
here.
Eastern Europe
Date: 16 to 18 September 2015
Location: Pristina
Instructors: Darrel Scott (IASB member and Chairman of the IASB’s SME Implementation Group) and Michael Wells (Director, IFRS Education Initiative, IASB)
Language: English
Sponsoring organisations: Society of Certified Accountants and Auditors of Kosovo (SCAAK)
Asia
Date: 13 October 2015
Location: Hong Kong
Instructors include: Darrel Scott, Fanny Hsiang (Director, Head of Technical & Training Department, BDO and member of the IASB’s SME Implementation Group) and Michael Wells
Language: English
Sponsoring organisations: Hong Kong Institute of Certified Public Accountants (HKICPA)
A Spanish version of the 2015
Amendments to the IFRS for SMEs is currently being developed.
Here is the current status of the 2009
IFRS for SMEs translations that have been approved by the IFRS Foundation:
Completed: Albanian*, Arabic, Armenian*, Bosnian*, Bulgarian*, Chinese (simplified)*, Croatian*, Czech*, Estonian*, French*, Georgian, German, Hebrew*, Italian*, Japanese*, Kazakh*, Khmer*, Lithuanian*, Macedonian*, Mongolian*, Polish*, Portuguese*, Romanian*, Russian*, Serbian, Spanish*, Turkish* and Ukrainian*.
In progress: Azeri and Turkmen.
*Available for free download
here (for translations not marked with an * please see our
webshop for details on how to purchase a hard copy).
