The qualification is structured to develop the candidates’ knowledge and understanding of the development and scope of Financial Reporting Standards (IFRS) for SMEs and their ability to apply those standards.
The Certificate in IFRS for SMEs is tested by a 3 hour closed-book online exam with an additional 15 minute reading period.
This qualification is not currently available in the UK.
What will I learn?
On completion of the Certificate in IFRS for SMEs you will:
Understand the structure of the IASB and the process which the IASB follows in adopting IFRS for SMEs.
Understand the objectives and qualitative characteristics of financial statements for SMEs.
Be able to explain the meaning and components of terms: financial position, assets, liabilities, equity, performance, income and expenses within the context of both consolidated and separate financial statements.
Be able to explain the meaning of the terms: accounting estimates, accounting policies, and accounting error.