IFRS for SMEs Third Edition in Practice is a practical field guide to understanding and implementing the 2025 third edition of the IFRS for SMEs Accounting Standard, which applies to annual periods beginning on or after 1 January 2027, with early application permitted.
Rather than simply summarizing the revised Standard, this book focuses on the practical changes that finance professionals need to manage. It explains the three major rebuilt areas-revenue, fair value and business combinations-while also examining financial instruments, disclosures, transition requirements and the areas deliberately left unchanged, including leases.
Through two realistic case studies, eleven practical workshops, decision checkpoints and implementation templates, readers learn how to assess eligibility, perform a section-by-section gap analysis, redesign revenue processes, build fair value registers, reassess financial instruments, document transition elections and prepare the first third-edition financial statements.
Particular attention is given to Section 23's five-step revenue model, the new Section 12 fair value framework, Section 19 business combinations, the removal of the IAS 39 option, new disclosure requirements, transition reliefs, systems and data, governance and audit evidence.
Designed for accountants, auditors, CFOs, financial controllers, finance managers, group reporting teams, academics and advanced accounting students, this guide provides a compact, visual route from eligibility and gap analysis to the first third-edition financial statements.
Independently Published
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