IFRS for SMEs (3rd Edition): Key Changes and Practical Guidance
CPD Hours: 2
Price: R450.00
IFRS for SMEs (3rd Edition): Key Changes and Practical Guidance
Presenters : Caryn Maitland CA(SA)
Overview
The IASB has issued the 3rd Edition of the IFRS for SMEs Standard. Major highlights include certain updates and structural changes, particularly the alignment with full IFRS principles in key areas such as revenue recognition, fair value measurement, financial instruments and group accounting.
This webinar provides a focused, practical discussion that unpacks these changes and prepares you to apply them with confidence.
Join Caryn Maitland CA(SA) as she guides you through the latest requirements, helping you ensure compliant and effective financial reporting under the new standard.
Learning objectives
Attending this webinar will equip you with the following skills:
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Understand the scope and significance of changes in the 3rd Edition of the IFRS for SMEs.
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Identify which sections have been revised, newly added or clarified and how these impact SME reporting.
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Be equipped to apply the updated principles to revenue, fair value, group accounting and more.
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Recognise the transition requirements and compliance timelines for adopting the new version.
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Evaluate how the updates will affect financial reporting policies, systems and stakeholder communications.
Content
The webinar will cover the following topics:
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Overview of the IFRS for SMEs Standard: Purpose, users, and scope
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Key updates in the 3rd Edition (2025):
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Section 2: Concepts and Pervasive Principles
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Section 9: Consolidated Financial Statements
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Section 11: Financial Instruments (updated recognition and measurement)
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Section 12: Fair Value Measurement (new – based on IFRS 13 hierarchy)
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Section 23: Revenue from Contracts with Customers (updated – aligned with IFRS 15 principles)
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Practical implications of updates to:
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Investment Property (Section 16)
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Property, Plant and Equipment (Section 17)
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Leases (Section 20) – unchanged, but still relevant
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Income Taxes (Section 29)
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Transition provisions (Section 35) and first-time adoption
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Timelines for implementation and jurisdictional adoption considerations.
