IFRS for SMEs Module 1 explains which entities the IFRS for SMEs Accounting Standard is intended for and why the standard exists.
It helps businesses and financial statement users understand which entities may apply this simpler international accounting framework and which entities may not.
In particular, Module 1 explains:
- What constitutes a small or medium-sized entity (SME) under the IFRS framework;
- What it means for an entity not to have public accountability;
- Why SMEs may use a simplified set of accounting requirements instead of full IFRS; and
- How the standard supports the preparation of general-purpose financial statements for owners, lenders and other external users.
In simple terms, it helps answer the following question:
Is my company eligible to apply the IFRS for SMEs Accounting Standard?
Purpose of Module 1
Module 1 is intended to educate and guide users, rather than create new accounting requirements.
It:
- Explains the scope and purpose of the IFRS for SMEs Accounting Standard;
- Clarifies key concepts through explanations, examples and case studies; and
- Highlights areas requiring professional judgement, particularly when assessing whether an entity has public accountability.
The Third Edition, issued in February 2025, also clarifies that entities such as banks and insurance companies are examples of entities that commonly have public accountability. They are not necessarily automatic exclusions solely because of their industry. The assessment must be based on the relevant facts and circumstances.
Why Does IFRS for SMEs Exist?
Full IFRS is generally designed for larger entities and entities with public accountability, such as listed companies.
Many smaller businesses do not need the same level of complexity. IFRS for SMEs therefore aims to:
- Simplify accounting requirements;
- Reduce the cost and effort of financial reporting for smaller entities;
- Maintain international consistency and comparability; and
- Provide useful information to investors, lenders and other external users.
Practical Guidance for Accountants
Module 1 is particularly useful because it helps accountants to:
- Assess whether a client meets the IFRS definition of an SME, regardless of local size thresholds;
- Apply professional judgement when evaluating public accountability;
- Confirm that the financial statements are general-purpose financial statements, rather than reports prepared solely for tax or internal purposes;
- Understand the differences between IFRS for SMEs and full IFRS; and
- Help clients select the appropriate financial reporting framework.
Even if local law permits an entity to use IFRS for SMEs, the entity must still meet the IFRS definition of an SME before it can claim compliance with the standard.
IFRS for SMEs 第 1 模块：了解中小型实体
IFRS for SMEs 第 1 模块说明 IFRS for SMEs 会计准则适用于哪些企业，以及为什么需要这套准则。
它帮助企业及财务报表使用者了解，哪些企业可以采用这套较为简化的国际财务报告框架，以及哪些企业可能不符合采用资格。
第 1 模块主要说明：
- 根据 IFRS 框架，什么是中小型实体（SME）；
- 企业不具有公众问责（Public Accountability）意味着什么；
- 为什么中小型企业可以采用比完整 IFRS 更简化的会计要求；以及
- 这套准则如何支持编制供业主、贷款人及其他外部使用者参考的通用目的财务报表。
简单来说，它帮助企业回答以下问题：
我的公司是否符合采用 IFRS for SMEs 会计准则的资格？
第 1 模块的目的
第 1 模块的目的在于教育及指导使用者，而不是制定新的会计要求。
它：
- 说明 IFRS for SMEs 会计准则的适用范围及目标；
- 通过解释、示例及案例说明重要概念；以及
- 指出需要运用专业判断的领域，尤其是评估企业是否具有公众问责。
2025 年 2 月发布的第三版也进一步说明，银行及保险公司等企业，是通常具有公众问责的例子。企业不能仅仅因为所属行业，就被绝对排除在 IFRS for SMEs 之外。最终判断仍须根据相关事实与情况作出。
为什么需要 IFRS for SMEs？
完整 IFRS 通常适用于规模较大的企业，以及具有公众问责的企业，例如上市公司。
许多中小型企业并不需要同等程度的复杂会计要求。因此，IFRS for SMEs 的目标包括：
- 简化会计要求；
- 降低中小型企业编制财务报告的成本及工作量；
- 维持财务报告的国际一致性及可比性；以及
- 为投资者、贷款人及其他外部使用者提供有用的信息。
给会计人员的实务建议
第 1 模块尤其有助于会计人员：
- 判断客户是否符合 IFRS 对中小型实体的定义，而不只是依据当地规模门槛；
- 在评估公众问责时运用专业判断；
- 确认企业编制的是否为通用目的财务报表，而不是仅为税务或内部用途编制的报告；
- 了解 IFRS for SMEs 与完整 IFRS 之间的差异；以及
- 协助客户选择适当的财务报告框架。
即使当地法律允许企业采用 IFRS for SMEs，企业仍必须符合 IFRS 对中小型实体的定义，才能声明遵循这套准则。
