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IFRS for SMEs Training

International Financial Reporting Standards for SMEs Course

Drive profits in your organization confidently with our IFRS for SMEs Certification

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Prerequisites for the IFRS for SMEs Course

Prerequisites and Eligibility
Prerequisites and Eligibility
  • 450K+
    Career Transformations
  • 250+
    Workshops Every Month
  • 100+
    Countries and Counting

Highlights of IFRS for SMEs Course

Course Highlights

28 Hours of Live, Instructor-Led Sessions

Hands-On Learning with Group Exercises

Experiential Learning with Case Studies

Learn with the Help of Real-World Simulations

Get Downloadable Copy of Courseware

Post-Workshop Support and Assistance

The International Financial Reporting Standards (IFRS) for SMEs was issued in 2009 to protect the interests of small and medium enterprises (SMEs). This ensures that the company accounts are understandable and comparable, across sectors. The need for such a standard is required to maintain the same standard for businesses across different geographies.

SMEs therefore require professionals who understand these standards and are able to apply them for clarity, consistent implementation and prepare statements intended for lenders, creditors, investors, employees, governments and others outside the company.

KnowledgeHut’s IFRS for SMEs course is a step-by-step guide to using the standard effectively. Our faculty, who are industry veterans, will teach you how to adapt and mold the standards to suit the needs of your organization. This is a must-do course for accountants and financial auditors who can help their organizations grow and realize their vision.

Why KnowledgeHut For IFRS for SMEs Training

The KnowledgeHut Advantage

Learn from Industry Experts

Engage and interact directly with certified instructors who are also industry experts

Advanced Curriculum

Empower yourself with the latest updated industry-relevant curriculum

Hands-On Training

Understand through numerous activities, team-based exercises, and practical case studies

Practical Exercises

Learn with the help of practical case studies, hands-on exercises, and guided practice

Master the Fundamentals

Master concepts by learning practically through step-by-step guidance and detailed feedback

Post-Training Support

Get access to unlimited webinars, e-books, tutorials, articles, and interview questions

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IFRS for SMEs Course Curriculum

Curriculum

1. Fundamentals and Group Accounting

Learning Objectives:

Gain a comprehensive understanding of the scope, concepts, and principles of IFRS for SMEs, along with financial statement presentation. Master the intricacies of group accounting, including associates and joint ventures, to effectively report consolidated financial information.

Topics:

  • Scope of the IFRS for SMEs
  • Concepts and Pervasive Principles
  • Financial Statement Presentation
  • Group Accounting
  • Associates and Joint Ventures

2. Asset Management and Contingencies

Learning Objectives:

Learn to accurately account for tangible and intangible assets, including property, plant, and equipment, while understanding impairment concepts and inventory valuation. Develop proficiency in handling provisions, contingencies, and post-reporting period events to ensure comprehensive financial reporting.

Topics:

  • Property Plant and Equipment
  • Intangible Assets
  • Impairments
  • Inventories
  • Provisions, Contingencies and Events after End of Reporting Period

3. Financial Instruments and Employee-Related Accounting

Learning Objectives:

Explore the complexities of lease accounting, financial instruments, and share-based payments in the context of SMEs. Gain expertise in accounting for employee benefits and income tax, ensuring compliance with IFRS for SMEs guidelines.

Topics:

  • Leases
  • Financial Instruments
  • Share-Based Payment
  • Employee Benefits
  • Income Tax

4. Revenue Recognition and Specialized Reporting

Learning Objectives:

Master revenue recognition principles and learn to account for foreign currency transactions and hyperinflation scenarios. Understand specialized activities reporting and the transition process to IFRS for SMEs, while developing skills in preparing comprehensive disclosures for financial statements.ShareRewrite

Topics:

  • Revenue
  • Foreign Currency and Hyperinflation
  • Disclosures
  • Specialized Activities
  • Transition to International Financial Reporting Standards for SMEs

What You'll Learn in the IFRS for SMEs Course

Learning Objectives
1
Fundamentals of the IFRS

Become proficient in the IFRS which is a globally recognized standard.

2
Understand the IFRS

Understand how IFRS standards are applied across the world.

3
Prepare Financial Statements

Gain a complete understanding to prepare general purpose financial statements.

4
Gain Investor Support

Help your organization by preparing concise statements that will help gain investor support.

5
Set Jurisdictional Support

Help your organization set clear jurisdictional boundaries and protect the business interests.

6
Understand the SME Finances

Become an expert in small and medium enterprise financial disclosure.

Who can attend the IFRS for SMEs Course

Who This Course Is For?
  • Professional Accountants
  • Financial Experts
  • Auditors
Who Should Attend

IFRS for SMEs Course FAQs

Frequently Asked Questions
Learning IFRS for SMEs

1. What is the Certificate IFRS for SMEs?

This is a flagship credential offered by ACCA. It is aimed at providing candidates with the knowledge of International Financial Reporting Standards for Small and medium enterprises (SMEs). This knowledge is necessary for professionals who are responsible for applying and understanding these standards on a global scale and benefitting their organisations.

2. Who is the target audience for this course?

This course is ideal for professional accountants or those involved in auditing and finance in their enterprise.

3. What are the eligibility criteria for this course?

Prerequisites: There are no prerequisites for taking the exam and one need not have any experience or formal qualifications in accounting and auditing to apply for this certificate.

Certification: The IFRS exam is conducted by the ACCA. Participants can apply online for the exam and pay via credit card, which will also give them access to the online course.

The fees allow you to appear twice, if you fail at the first attempt. The re-examination must be taken within three months of accessing the online course.

If you fail to clear after three attempts, you will be required to pay another registration fee, following which you will get three more chances to appear for the examination.

The Exam: The IFRS exam offered by ACCA is a one-hour, multiple choice question paper, with a pass mark of 50%.

4. What are the practical skills I can acquire with this course?

Through this course, you will learn:

  • Become proficient in the IFRS which is a globally recognized standard
  • Understand how IFRS is used around the world
  • Learn to prepare general purpose financial statements
  • Help your organization by preparing concise statements that will help gain investor support
  • Help your organization clear jurisdictional boundaries
  • Become an expert in small and medium enterprise financial disclosure
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