IFRS for SMEs
E453763
International Financial Reporting Standard
accounting standard
financial reporting framework
simplified IFRS framework
IFRS for SMEs is a simplified set of international financial reporting standards designed specifically to meet the needs and capabilities of small and medium-sized entities.
All labels observed (2)
| Label | Occurrences |
|---|---|
| IFRS for SMEs canonical | 1 |
| IFRS for SMEs Standard | 1 |
How this entity was disambiguated
This entity first appeared as the object of triple T4575818 — resolving that mention is where its identity was fixed. The disambiguator weighed these candidate entities and picked the highlighted one (or “None”, minting a new entity). This is how homonymy is resolved: the same surface form can point to different entities.
NED1
Entity disambiguation (via context triple)
gpt-5-mini-2025-08-07
Target entity: IFRS for SMEs Context triple: [IFRS, influenced, IFRS for SMEs]
-
A.
IFRS
IFRS (International Financial Reporting Standards) is a globally used set of accounting standards designed to bring transparency, comparability, and consistency to financial statements across different countries.
-
B.
International Financial Reporting Standards
International Financial Reporting Standards are a globally recognized set of accounting rules and principles designed to bring transparency, consistency, and comparability to financial statements across different countries.
-
C.
FASB Accounting Standards Codification
The FASB Accounting Standards Codification is the single, authoritative source of nongovernmental U.S. GAAP, organizing all relevant accounting standards into a comprehensive, structured framework.
-
D.
ASC 350 Intangibles—Goodwill and Other
ASC 350 Intangibles—Goodwill and Other is a U.S. GAAP accounting standard that provides guidance on the recognition, measurement, and impairment testing of goodwill and other intangible assets.
-
E.
SME
SME is a professional society that supports the mining, minerals, and underground construction industries through technical resources, education, and networking.
- F. None of above. chosen
- G. Unsure - the case is ambiguous/there is not enough information to decide.
NED2
Entity disambiguation (via description)
gpt-5-mini-2025-08-07
Target entity: IFRS for SMEs Target entity description: IFRS for SMEs is a simplified set of international financial reporting standards designed specifically to meet the needs and capabilities of small and medium-sized entities.
-
A.
IFRS
IFRS (International Financial Reporting Standards) is a globally used set of accounting standards designed to bring transparency, comparability, and consistency to financial statements across different countries.
-
B.
International Financial Reporting Standards
International Financial Reporting Standards are a globally recognized set of accounting rules and principles designed to bring transparency, consistency, and comparability to financial statements across different countries.
-
C.
FASB Accounting Standards Codification
The FASB Accounting Standards Codification is the single, authoritative source of nongovernmental U.S. GAAP, organizing all relevant accounting standards into a comprehensive, structured framework.
-
D.
ASC 350 Intangibles—Goodwill and Other
ASC 350 Intangibles—Goodwill and Other is a U.S. GAAP accounting standard that provides guidance on the recognition, measurement, and impairment testing of goodwill and other intangible assets.
-
E.
SME
SME is a professional society that supports the mining, minerals, and underground construction industries through technical resources, education, and networking.
- F. None of above. chosen
Statements (49)
| Predicate | Object |
|---|---|
| instanceOf |
International Financial Reporting Standard
ⓘ
accounting standard ⓘ financial reporting framework ⓘ simplified IFRS framework ⓘ |
| abbreviation | IFRS for SMEs NERFINISHED ⓘ |
| adoption | optional for jurisdictions that choose to permit or require it ⓘ |
| appliesTo |
consolidated financial statements of groups of qualifying entities
ⓘ
separate financial statements of qualifying entities ⓘ |
| basedOn | full IFRS ⓘ |
| benefit |
enhances comparability of SME financial statements across jurisdictions
ⓘ
lowers cost of preparing financial statements for SMEs ⓘ reduces complexity of financial reporting for SMEs ⓘ |
| characteristic |
organized by sections rather than individual standards
ⓘ
reduced disclosure requirements compared with full IFRS ⓘ simplified recognition and measurement requirements compared with full IFRS ⓘ |
| contains | simplified disclosure checklist for SMEs ⓘ |
| designedFor | entities without public accountability ⓘ |
| developedBy | International Accounting Standards Board NERFINISHED ⓘ |
| distinguishedFrom |
full IFRS
NERFINISHED
ⓘ
local GAAP frameworks for SMEs ⓘ |
| excludes |
financial institutions with public accountability
ⓘ
publicly traded entities ⓘ |
| focus | information needs of lenders, creditors and other users not in a position to demand tailored reports ⓘ |
| fullName | International Financial Reporting Standard for Small and Medium-sized Entities NERFINISHED ⓘ |
| governedBy | IFRS Foundation NERFINISHED ⓘ |
| includes |
requirements for accounting policies, estimates and errors
ⓘ
requirements for business combinations and goodwill ⓘ requirements for employee benefits ⓘ requirements for financial instruments ⓘ requirements for income taxes ⓘ requirements for intangible assets ⓘ requirements for leases ⓘ requirements for presentation of financial statements ⓘ requirements for property, plant and equipment ⓘ requirements for provisions and contingencies ⓘ requirements for related party disclosures ⓘ requirements for revenue recognition ⓘ |
| issuedBy | International Accounting Standards Board NERFINISHED ⓘ |
| language | issued in English and translated into multiple languages ⓘ |
| legalStatus | subject to endorsement or adoption by national standard-setters or regulators ⓘ |
| objective | to provide high quality, understandable and enforceable global accounting standards for SMEs ⓘ |
| purpose |
to provide a simplified financial reporting framework for small and medium-sized entities
ⓘ
to reduce reporting burden for small and medium-sized entities compared with full IFRS ⓘ |
| regulatoryContext | part of the IFRS family of standards ⓘ |
| scope | general purpose financial statements of small and medium-sized entities ⓘ |
| targetUser |
non-publicly accountable entities
ⓘ
small and medium-sized entities ⓘ |
| updatePolicy | updated periodically but less frequently than full IFRS ⓘ |
| userGroup | owners and creditors of small and medium-sized entities ⓘ |
How these facts were elicited
The pipeline generated the facts above by prompting gpt-5.1 with this entity's name + description and the instruction below.
Instruction
You are a knowledge base construction expert. Given a subject entity and a description of it, return factual statements that you know for the subject as a JSON list of dictionaries(triples), where keys must be "subject", "predicate" and "object". The number of facts may be very high, between 25 to 50 or more, for very popular subjects. For less popular subjects, the number of facts can be very low, like 5 or 10. # Requirements - If you don't know the subject at all, return an empty list. - If the subject is not a named entity, return an empty list. - Include at least one triple where predicate is "instanceOf". - Do not get too wordy. - Separate several objects into multiple triples with one object.
Input
Subject: IFRS for SMEs Description of subject: IFRS for SMEs is a simplified set of international financial reporting standards designed specifically to meet the needs and capabilities of small and medium-sized entities.
Referenced by (2)
Full triples — surface form annotated when it differs from this entity's canonical label.