IFRS for SMEs (Small and Medium-sized Entities)

IFRS for SMEs is a simplified version of international accounting standards designed specifically for small and medium-sized companies. It provides clear guidelines on how these businesses should prepare and present financial statements, making the process easier and more consistent across different countries. The goal is to ensure transparency, comparability, and accuracy in financial reporting without the complexity required for larger corporations. This helps smaller businesses communicate their financial health clearly to investors, lenders, and other stakeholders, fostering trust and facilitating growth while reducing the burden of overly complex accounting rules.