IFRS for SMEs Updates

The IASB has issued a revised IFRS for SMEs guide and announced the adoption of IFRS for SMEs in Samoa and Ecuador.

The revised Guide to the IFRS for SMEs booklet is designed to provide a briefing of IFRS for SMEs for lenders, creditors, and other interested parties.

In the recent edition of IFRS for SMEs Update newsletter, the staff announced the adoptions of the IFRS for SMEs in Samoa and Ecuador. In Samoa, all non-publicly accountable entities will begin using IFRS for SMEs for financial reporting periods ending on or after 30 June 2012. In Ecuador, IFRS for SMEs is effective for all non-publicly accountable entities for years ending on or after 31 December 2012.