📚Dive into the Latest IFRS for SMEs Educational Resources
Acclara AI•
The IFRS Foundation has just rolled out a treasure trove of resources for the latest edition of the IFRS for SMEs Accounting Standard. From modules to podcasts, there’s something for everyone looking to get up to speed.
Key Points
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📘 11 Modules: Covering everything from cash flows to financial instruments
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🎤 5 Webcasts: Breaking down key changes and new sections
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🎧 3 Podcasts: Offering insights and updates straight to your ears
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🗓️ Comprehensive Review: Summarizes the significant changes in the new edition
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📈 Stakeholder Engagement: Highlights feedback and analysis from the community
🧑🏫 Educational Modules
The IFRS Foundation has released 11 detailed modules aimed at demystifying the third edition of the IFRS for SMEs Accounting Standard. These modules cover a wide range of topics including Small and Medium-sized Entities, Concepts and Pervasive Principles, and Financial Instruments. Each module provides clear explanations, practical examples, and highlights significant judgements required for applying the standards. They also offer comparisons with full IFRS Accounting Standards, making it easier for users to understand the differences and similarities.
Some of the notable modules include:
Module 1: Small and Medium-sized Entities
Module 7: Statement of Cash Flows
Module 12: Fair Value Measurement
🎥 Webcasts
For those who prefer visual learning, the IFRS Foundation has produced five webcasts that delve into the specifics of the new and revised sections of the third edition. These webcasts provide an overview of the updates and explain the rationale behind the changes. Key topics include:
Overview of the third edition of the IFRS for SMEs Accounting Standard
Overview of the new Section 2: Concepts and Pervasive Principles
Overview of amendments to Section 11: Financial Instruments
🎙️ Podcasts
If you’re always on the go, the new podcast series is perfect for you. With three episodes already available, these podcasts discuss the major updates to the Standard and their implications for SMEs and their stakeholders. Topics include the IASB’s approach to updating the Standard, the impact of the third edition on SMEs, and insights from SME investors.
Episode 1: Key updates and the IASB’s approach
Episode 2: Impact on SMEs and financial statement users
Episode 3: SME investor perspectives
📂 Additional Resources
To round out the suite of educational materials, the IFRS Foundation has also provided several other resources to aid in the implementation of the third edition of the Standard. These include a Project Summary, a Feedback Statement and Effects Analysis, and a marked-up version of the Standard showing changes from the previous edition. These documents offer valuable insights into the review process and the expected benefits and costs of the new amendments.
