View source for IFRS for Small and Medium-Sized Entities

''Financial reporting - International Financial Reporting Standards (IFRS) - Small and Medium-sized Entities (SMEs).''

(IFRS for SMEs). 

International Financial Reporting Standards (IFRS) for Small and Medium-sized Entities (SMEs) are a simplification of the full IFRS.


The simplifications of the full IFRS are designed to reflect:

* The needs of users of SMEs' financial statements and 
* Cost-benefit considerations. 


The simplifications for SMEs include:

* Where full IFRSs allow accounting policy choices, the IFRS for SMEs make the easier option mandatory
* Many of the principles for recognising and measuring assets, liabilities, income and expenses in full IFRSs are simplified. 
* Significantly fewer disclosures required.

''(Source - Deloitte)''


== See also ==
* [[Disclosure]]
* [[Financial reporting]]
* [[Financial statements]]
* [[Generally accepted accounting principles]]  (GAAP)
* [[International Financial Reporting Standards]]  (IFRS)
* [[Small and Medium-sized Enterprises]]  (SMEs)
* [[US GAAP]]


== Other resource ==
*[https://www.iasplus.com/en/standards/other/ifrs-for-smes Deloitte - International Financial Reporting Standards (IFRS) for Small and Medium-sized Entities (SMEs)]

[[Category:Accounting,_tax_and_regulation]]
[[Category:The_business_context]]