IFRS for SMEs

IFRS for SMEs is a simplified version of international accounting standards designed specifically for small and medium-sized businesses. It provides clear rules for preparing financial statements, making it easier for smaller companies to report their finances accurately and consistently. The goal is to ensure transparency, comparability, and credibility of financial information while reducing the complexity and cost of compliance compared to full IFRS standards used by larger companies. This helps smaller businesses communicate their financial position effectively to stakeholders, such as investors and lenders.