The training materials are designed to assist companies and accounting practitioners in applying the IFRS. It covers case studies on the IFRS for SMEs and summaries of the main differences between the IFRS for SMEs and the corresponding full IFRS.
The International Accounting Standards Committee (IASC) Foundation today published the second batch of training materials for the International Financial Reporting Standard for Small and Medium-sized Entities (IFRS for SMEs). The training material is designed to assist companies and accounting practitioners in applying the IFRS. It will also assist educators in teaching them how to apply the IFRS for SMEs. The remaining material will be published in the course of this year as it is completed.
The IASC Foundation is developing 35 stand-alone training modules - one for each section of the IFRS for SMEs. The modules are free-to-download.
Each module includes the following:
· Introduction — an overview of the module
· Requirements —the full text of the section of the IFRS for SMEs with added notes and worked examples. The notes and examples are designed to clarify and illustrate the requirements.
· Significant estimates and other judgements — a discussion of significant estimates and other judgements in accounting for transactions and events in accordance with that section of the IFRS for SMEs.
· Comparison with full IFRSs — a summary of the main differences between this section of the IFRS for SMEs and the corresponding full IFRS.
· Test your knowledge — a collection of multiple-choice questions (with answers) designed to test the learner’s knowledge of the requirements of this section of the IFRS for SMEs.
· Apply your knowledge — a collection of case studies (with solutions) designed to develop the learner’s ability to account for transactions and events in accordance with this section of the IFRS for SMEs.
The IASC Foundation has approached the world’s development agencies to fund the translation of the IFRS for SMEs into several languages
© IASC
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