IFRS for SMEs

Table of Contents
Question 01 (Answer) ........................................................................................................................... 2
Introduction to IFRS for SMEs ....................................................................................................... 2
Public Accountability...................................................................................................................... 2
Major areas covered in IFRS for SMEs.......................................................................................... 3
Small and Medium-sized Entities ................................................................................................... 3
Concepts and Pervasive Principles ................................................................................................. 3
Financial Statement Presentation .................................................................................................... 3
Statement of Financial Position ...................................................................................................... 3
Statement of Comprehensive Income and Income Statement ......................................................... 4
Statement of Changes in Equity & Statement of Comprehensive Income & Retained Earnings ... 4
Statement of Cash Flows................................................................................................................. 4
Notes to the Financial Statements ................................................................................................... 4
Consolidated and Separate Financial Statements ............................................................................ 4
Accounting Policies, Estimates and Errors ..................................................................................... 5
Inventories.......................................................................................................................................