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SME Implementation Group publishes draft Q&A for comment

  • IFRS for SMEs (mid blue) Image
  • SMEIG (SME Implementation Group) (mid blue) Image

07 Aug 2019

The SME Implementation Group (SMEIG) has published a draft question and answer (Q&A) on the IFRS for SMEs.

The Q&A addresses the application of the undue cost or effort exemption for investment property on the date of transition to the IFRS for SMEs. The draft Q&A concludes that additional cost or effort due to the elapse of time between the date of transition and the date of preparing the first IFRS for SMEs financial statements is not considered.

Comments are requested by 7 October 2019. The draft is available on the IASB website.

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