International Financial Reporting Standards for Small and Medium-Sized Entities (IFRS for SMEs) is appropriate for general purpose financial statements and other financial reporting of all profit-oriented entities. The standard is meant to provide simplifications to the requirements in full IFRSs that reflect the needs of users of SMEs’ financial statements and cost-benefit considerations.
This course focuses on the primary differences between full IFRS and IFRS for SMEs.
Prerequisites
No advanced preparation or prerequisites are required for this course.
Learning Objective
- Explore which entities may appropriately apply International Financial Reporting Standards for Small and Medium-Sized Entities (IFRS for SMEs).
- Discover the primary differences of IFRS for SMEs compared to full IFRS.
- Recognize important principles that are reinforced in both IFRS for SMEs and full IFRS.
Last updated/reviewed: September 19, 2026
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Jennifer Louis
CPA, President of Emergent Solutions Group LLC
INTRODUCTION AND OVERVIEW
- Introduction to IFRS for Small and Medium-Sized Entities Compared to Full IFRS 8:52
- Pervasive Concepts 11:52
- Basic Financial Instruments 12:42
- Business Combinations 8:20
- Investments in Other Entities 2:18
- Non-Financial Assets, Including Intangible Assets 3:23
- Employee Benefit Plans & Income Taxes 5:00
- Revenue and Expense Matters 7:06
CONTINUOUS PLAY
Supporting Materials
- Slides: IFRS for Small and Medium-Sized Entities Compared to Full IFRS PDF
- IFRS for Small and Medium-Sized Entities Compared to Full IFRS Glossary/Index PDF
REVIEW AND TEST
- REVIEW QUESTIONS quiz
- FINAL EXAM locked
