📊Webcast Series to Help SMEs Navigate IFRS for SMEs Accounting Standard
Acclara AI•
The IASB has launched a webcast series to help SMEs understand the third edition of the IFRS for SMEs Accounting Standard, effective January 2027.
Key Points
•📅 Mark Your Calendar: Updates effective for annual periods starting 1 January 2027
•🆕 New Edition: Third edition issued in February 2025
•📈 Sections Covered: Financial Instruments, Statement of Cash Flows, Concepts and Pervasive Principles, Fair Value Measurement
•📚 Educational Boost: Webcast series complements educational modules
•🚀 Early Bird: Early application of the Standard is permitted
🎬 The Plot Thickens
The IFRS for SMEs Accounting Standard aims to balance the information needs of lenders and other users of SMEs’ financial statements with the resources available to SMEs. The IASB issued the third edition of the Standard in February 2025, updating the previous version.
📅 What's On the Calendar?
This update is effective for annual periods beginning on or after 1 January 2027, with early application permitted. The IASB has launched a webcast series to help SMEs understand and apply the new edition of the Standard.
📚 Dive Into the Details
The webcast series covers several key sections:
Overview of amendments to Section 11 Financial Instruments
Overview of amendments to Section 7 Statement of Cash Flows
Overview of the new Section 2 Concepts and Pervasive Principles
Overview of the new Section 12 Fair Value Measurement
This educational boost is designed to complement existing modules and provide SMEs with the tools they need to effectively apply the Standard.
🔍 Why This Matters
While updates to accounting standards might seem dry, they are crucial for SMEs to maintain transparency and reliability in their financial reporting. This webcast series is a valuable resource for SMEs looking to stay ahead of the curve and ensure compliance with the latest regulations.
