What are the differences of the IFRS for SMEs with full IFRS? Based on IFRS website: The IFRS for SMEs Accounting Standard reflects five types of simplifications from full IFRS Accounting Standards: - some topics in full IFRS Accounting Standards are omitted because they are not relevant to typical SMEs; - some accounting policy options in full IFRS Accounting Standards are not allowed because a more simplified method is available to SMEs; - many of the recognition and measurement principles that are in full IFRS Accounting Standards have been simplified; - substantially fewer disclosures are required; and - the text of full IFRS Accounting Standards has been redrafted in ‘plain English’ for easier understandability and translation. #IFRS #AccountingStandards