The IFRS for SMEs Standard includes an option for entities to apply the recognition and measurement requirements of IAS 39 Financial Instruments: Recognition and Measurement. If an entity chooses this option, the applicable version of IAS 39 is explained below:
- For accounting periods beginning before 1 January 2018, an SME shall apply the version of IAS 39 that is in effect at its reporting date, by reference to the full IFRS publication titled IFRS® Standards Consolidated without early application (Blue Book).
- For accounting periods beginning on or after 1 January 2018 an SME shall apply the version of IAS 39 that applied immediately prior to the effective date of IFRS 9 Financial Instruments.
A copy of the version of IAS 39 that applied immediately before the effective date of IFRS 9 is available here.