An IEP is a document that parents and teachers work on together, creating up to 3 short term goals for the child to work on.
The goals are expected to be SMART, which means:
In other words, the goals shouldn't be vague things like:
"Jimmy must improve his letter formation"
Rather, it would be:
"Jimmy must work on writing the letters a, e i, o and u over the next 8 weeks."
It is also a good idea for the IEP to include an idea of what help can be given and how often and also how progress will be measured.
The parent, teacher and child will sign the IEP and everyone gets a copy to keep. The child may be given a "Child Friendly" version.