IFRS Foundation publishes IFRS for SMEs Educational Module 1—Small and Medium-sized Entities

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The IFRS Foundation has developed stand-alone modules, one for each section of the IFRS for SMEs Accounting Standard. The IFRS Foundation is in process of updating these modules to reflect the amendments in the 2025 version of the Standard, prioritising those sections with significant changes. These modules are designed to provide support to anyone learning about, applying or reading financial statements prepared using the IFRS for SMEs Accounting Standard.

Each module includes the following:

requirements—the full text of the section of the IFRS for SMEs Accounting Standard, including the related transition requirements, reproduced with added notes and examples. The notes and examples are designed to explain and illustrate the requirements.

significant estimates and other judgements—a discussion of the significant estimates and other judgements likely to be made in accounting for transactions and events when applying the section of the IFRS for SMEs Accounting Standard.

comparison with full IFRS Accounting Standards—a summary of the main differences between the section of the IFRS for SMEs Accounting Standard and the corresponding Standard from full IFRS Accounting Standards.

test your knowledge—multiple-choice questions, with answers, designed to test knowledge of the requirements of the IFRS for SMEs Accounting Standard.

apply your knowledge —case studies, with solutions, designed to develop the skills needed to account for transactions and events in accordance with the IFRS for SMEs Accounting Standard.