International Financial Reporting Standards Foundation publishes 11 modules five webcasts and three podcasts to support the third edition of IFRS for SMEs

The IFRS Foundation has published a suite of educational resources to help stakeholders learn, apply and implement the third edition of the IFRS for SMEs Accounting Standard. The package comprises 11 educational modules, five webcasts and three podcast episodes, alongside additional implementation materials. The modules cover topics including the definition of small and medium-sized entities, concepts and pervasive principles, the statement of cash flows, consolidated and separate financial statements, financial instruments, fair value measurement, joint arrangements, business combinations and goodwill, revenue from contracts with customers, employee benefits and transition. They provide explanations and examples, highlight significant judgements in applying the requirements, and include comparisons with full IFRS Accounting Standards. The five webcasts focus on an overview of third-edition changes, the new Section 2 Concepts and Pervasive Principles and its alignment with the Conceptual Framework, new disclosure requirements in Section 7 Statement of Cash Flows, revisions to Section 11 Financial Instruments, and the new Section 12 Fair Value Measurement. The three podcasts cover key updates and the IASB’s approach to updating the Standard and stakeholder engagement, expected impacts on SMEs and users of their financial statements, and an SME investor perspective. Other supporting documents include a project summary of the second comprehensive review, a feedback statement and effects analysis, and a marked-up version showing changes from the second edition.