Title Training in International Financial Reporting Standards for SMEs
Project Number 2010-1-GR1-LEO05-03950
Project Type Transfer of Innovation
Marketing Text The reason the specific project was chosen is for the enhancement of the educational background of accountants/entrepreneurs in the International Financial Reporting Standards (IFRS) for Small and Medium sized Entities (SMEs) a crucial field where surprisingly there is a proved enormous knowledge-gap even amongst professionals.
On 9 July 2009, the International Accounting Standards Board (IASB) issued the IFRS for SMEs. This Standard provides an alternative framework that can be applied by eligible entities in place of the full set of IFRS applied by listed companies as of 2005.
The main purpose of our project is to develop an effective learning system to benefit accountants, entrepreneurs and even individuals with no prior knowledge of international standards. The proposed transnational education and training project (SMEsIFRS) will include a learning manual and access to an interactive online learning environment and online assessment for all issues related to IFRS for SMEs. The Consortium is diversified and consists of a number of different organizations with experience in European programmes and specialization in the field.
This partnership of researchers and vocational educators will continue to translate and transfer the SMEsIFRS - materials to enable the comparison of capabilities and update skills among accountants in Turkey, Greece, UK and Lithuania. This will promote transferability of knowledge and capabilities by providing a common framework.
SMEsIFRS will be based on ISLETMEOKULU-project. ISLETMEOKULU was a project (LLP-LdV-TOI-2007-TR-043, 2007 – 2009) including three countries.
The objectives of SMEsIFRS –project will be:
- to disseminate the products and results of ISLETMEOKULU -project to other European counties
- to complement and update the contents of ISLETMEOKULU -project by adding recent developments in accounting for SMEs given the pressure to harmonize financial reporting practice and regulation on a global basis
- to compare IFRS education and training in different EU countries.
- Increase mobility of teachers and accounting professionals
- Improve the quality of education of accounting practices and especially IFRS.
The envisaged impact of the project is without doubt significant since it will update the skills of a great number of interested
user groups towards the challenge of international accounting harmonization through common financial reporting standards.
Utilization and distribution of results
Open and distance learning
Financial and Insurance Activities
material for open learning
open and distance learning
These are some of the products developed so far:
- field study on the opinions of the preparers of SMEs financial statements in the UK, Greece, Turkey and Lithuania.
- Project Quality Plan Technical Report