Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1697752768746.pdf (Georgia)
Exposure draft Third edition of the IFRS for SMEs Accounting Standard Executive Summary The views expressed in this presentation are those of the presenter, not necessarily those of the IFRS Foundation, International Accounting Standards Board or the International Sustainability Standards Board.

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3 Agenda Background Main proposals in the Exposure Draft Background Objective of the project • Update the IFRS for SMEs Accounting Standard to reflect improvements that have been made in full IFRS Accounting Standards (in the scope of the second comprehensive review) while keeping the Standard simple 4 Approach Sought views via the request for information published in January 2020 Apply the framework for deciding whether, how and when to amend the Standard Applying the framework taking into consideration feedback on the request for information, propose improvements to the Standard by publishing the Exposure Draft 5 Scope of the review Requirements in full IFRS Accounting Standards issued: A ▪ since the first review; and Scope ▪ before the first review that did not result in amendments to the Standard in 2015 B Other topics brought to the IASB’s attention relating to the Standard Alignment with IFRS Accounting Standard considered The Conceptual Framework IFRS 13 Fair value measurement IFRS 3 Business Combinations IFRS 14 Regulatory Deferral Accounts IFRS 9 Financial Instruments IFRS 10 Consolidated Financial Statements IFRS 15 Revenue from Contracts with Customers Minor amendments to IFRS Accounting Standards and IFRIC Interpretations IFRS 11 Joint Arrangements IFRS 16 Leases 6 Framework for the Second Comprehensive Review Relevance to SMEs Would a change make a difference to the decisions of users?
Simplification Can appropriate simplifications be made?

Faithful representation Does the outcome faithfully represent economics in words and numbers?
Main proposals in the Exposure Draft 8 Topics to which the IASB applied the alignment principles and is proposing amendments ▪ The IASB is seeking feedback on its proposals to align the IFRS for SMEs Accounting Standard with these major IFRS Accounting Standards 9 Topics to which the IASB applied the alignment principles and is not proposing amendments ▪ Alignment of the IFRS for SMEs with IFRS 14 will be considered when the IASB completes its rate-regulation project ▪ Alignment of the IFRS for SMEs with IFRS 16 will be considered in a future review ▪ The IASB is seeking feedback on cost-benefit considerations of aligning the Standard with IFRS 16 IFRS 16 IFRS 14 Follow us online ifrs.org @IFRSFoundation IFRS Foundation International Accounting Standards Board