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Workshop on IFRS for SMEs in Astana, Kazakhstan

13-15 March 2012

The World Bank Centre for Financial Reporting Reform (CFRR) and the IFRS Foundation held the third in a series of workshops on the International Financial Reporting Standard for small- and medium-sized entities (IFRS for SMEs) in Astana, Kazakhstan on 13-15 March 2012. The workshop was organized as part of the Joint Economic Research Program (JERP) and had the objective of informing a wider group of Kazakh accounting specialists and policy-makers about the IFRS for SMEs and providing them with the resources to pass on their knowledge of the standard to their colleagues and students. In addition, accounting experts from Tajikistan, Turkmenistan and Uzbekistan, which are also considering whether to adopt the IFRS for SMEs, attended the workshop. About 50 participants, drawn mainly from professional accounting bodies and government officials, attended the workshop.

To the JERP program page

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Workshop on IFRS for SMEs in Kazakhstan


Summary


Summary

The workshop was conducted by Michael Wells from the IFRS Foundation and Andrei Busuioc, from the World Bank CFRR. The presenters opened the workshop by giving an overview of the main elements of the IFRS for SMEs, emphasizing its close relationship with the full system of IFRS and where the two standards differed. The rest of the workshop was devoted to a detailed exposition of the main elements of the IFRS for SMEs reporting standard, covering the scope and concepts of the standard, the treatment of revenue, financial instruments, assets and liabilities, the presentation of financial statements and how the standard dealt with issues of consolidation, foreign operations and business combinations. Each presentation session was followed by a case study to illustrate how the reporting standard was applied in practice and an informal quiz to test participants' understanding of the issues, as well as question and answer sessions.

The materials used in the workshop can be found in the download section of this page in English and Russian.




Permanent URL for this page: http://go.worldbank.org/B50HMMSVN0