Applying the IFRS for SMEs provides expert insights and explanations of the IFRS for SMEs issued by the International Accounting Standards Board (IASB). The book includes comprehensive coverage of this recently issued standard aimed at small and medium-sized businesses. It provides commentary on the theory in the standard, illustrative disclosures, comprehensive illustrative financial statements and comparisons to full IFRS, including relevant real life worked out examples aimed at SMEs, plus summaries of important points. Each chapter is composed of a discussion of the relevant section together with the required theory.