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On February 27, 2025, the IASB released the third edition of the IFRS for SMEs Accounting Standard. The Basis for Conclusions and Illustrative Financial Statements are included with the third version.
The adjustments can be applied earlier, but they take effect for annual periods starting on or after January 1, 2027.
SMEs must implement the standard's updated and new requirements retroactively. SME applications of the new or amended Sections 9, 11, 12, 19, and 23 are, nevertheless, exempt from some of the retroactive applicability requirements.
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Advance Grand Formula Co., Ltd is licensed audit firm from Accounting and Auditing Regulator (ACAR Decision N0. 014), member audit firm of Kampuchea Institute of Certified Public Accountants and Auditors (license number C-00085) and tax agent from General Department of Taxation (license number TA202204002).
This Publication is intended for general guidance only and should not form the basic of specific decisions.
Should you need any further information or support, please contact us at: accounting@advancegroupkh.com (accounting), audit@advancegroupkh.com (audit), tax@advancegroupkh.com (tax) and number and telegram 085 36 8888 and 070 399 888.
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