The IFRS Foundation has significantly enhanced its educational support for the IFRS for SMEs Accounting Standard by releasing dedicated learning modules structured around each section of the standard. These modules are currently undergoing updates to reflect the recent amendments introduced in the 2025 edition, with priority given to sections experiencing substantial revisions.
Designed to aid professionals implementing the standard, auditors, financial statement preparers, and learners, each module provides a comprehensive toolkit:
- Complete Requirements: Incorporates the full text of the relevant standard section, including transition guidance, supplemented with explanatory notes and illustrative examples.
- Critical Judgements & Estimates: Highlights key areas requiring significant management judgement or estimation when applying the standard’s provisions.
- Full IFRS Comparison: Summarizes essential differences between the SME Standard requirements and full IFRS Accounting Standards for the relevant topic.
- Knowledge Check: Offers multiple-choice questions with solutions to test understanding of the section’s core requirements.
- Practical Application: Features case studies with model solutions to demonstrate the application of the standard to real-world transactions.
These educational modules, while developed by the IFRS Foundation, have not received formal endorsement by the International Accounting Standards Board (IASB).
Source: IFRS Foundation, 8 July 2025.