Applying IFRS for SMEs (2nd Edition) provides a detailed look at the application of the revised IFRS for SMEs standard as issued in by the International Accounting Standards Board (IASB) in 2015. The amended standard provides areas of relief from the onerous provisions of full IFRS. Foreword by Darrel Scott, IASB Board Member. The book includes guidance on the interpretation and application of the standard from experienced practitioners who have hands on experience advising on, as well as preparing, financial statements under this framework.

An invaluable aid to companies and auditors involved in first-time adoption of the new SMEs standard Applying the IFRS for SMEs provides expert insights and explanations of the International Financial Reporting Standards (IFRS) for small and medium enterprises (SMEs) issued by the International Accounting Standards Board (IASB). This important book includes comprehensive coverage of this recently issued standard aimed at small and medium-sized businesses. Provides essential coverage for application of IFRS-now a necessity in the accounting world Includes Foreword by Paul Pacter, Director of Standards for SMEs, IASB Offers commentary on the theory in the standard, illustrative disclosures, comprehensive illustrative financial statements and comparisons to full IFRS Includes relevant real life worked out examples aimed at SMEs, plus summaries of important points The first book on how to apply the new SMEs standard, Applying the IFRS for SMEs is a must-have book for your small or medium-sized business.

"This is the only official printed edition of the IASB's International Financial Reporting Standard for Small and Medium-sized Entities (IFRS for SMEs) that incorporates and is updated by 2015 Amendments to the IFRS for SMEs (effective for annual reporting periods beginning on or after 1 January 2017 with early application permitted). The IFRS for SMEs has simplifications that reflect the needs of users of SMEs' financial statements and cost-benefit considerations. ... It is intended for entities that do not have public accountability as defined in the IFRS for SMEs."--Back cover.

"This is the only official printed edition of the IASB's International Financial Reporting Standard for Small and Medium-sized Entities (IFRS for SMEs) that incorporates and is updated by 2015 Amendments to the IFRS for SMEs (effective for annual reporting periods beginning on or after 1 January 2017 with early application permitted). The IFRS for SMEs has simplifications that reflect the needs of users of SMEs' financial statements and cost-benefit considerations. ... It is intended for entities that do not have public accountability as defined in the IFRS for SMEs."--Back cover.

Understanding IFRS for SMEs introduces the fundamental accounting principles required to understand and apply the International Financial Reporting Standards (IFRS) for Small and Medium-sized Entities (SMEs). This book uses an easy-to-understand conceptual approach to explain the requirements for preparing financial statements in accordance with IFRS for SMEs. The explanations are supported with source references that direct readers to the text as written in the standard. In addition, illustrative examples show how the underlying concepts are operationalised in the practice of accounting. Although the text is designed to provide guidance to those wishing to understand IFRS for SMEs, it refers to the full IFRS standards where appropriate, so that those readers who want to compare the requirements in the two IFRS standards may be able to do so.