(IFRS) for Small and Medium-sized Entities (SMEs)

IFRS FOR SMES – JULY 2009operating segmentAn operating segment is a component of an entity:(a)(b)(c)that engages in business activities from which it mayearn revenues and incur expenses (including revenuesand expenses relating to transactions with othercomponents of the same entity);whose operating results are regularly reviewed by theentity’s chief operating decision maker to make decisionsabout resources to be allocated to the segment and assessits performance; andfor which discrete financial information is available.other comprehensiveincomeownersparentperformanceItems of income and expense (including reclassificationadjustments) that are not recognised in profit or loss asrequired or permitted by this IFRS.Holders of instruments classified as equity.An entity that has one or more subsidiaries.The relationship of the income and expenses of an entity, asreported in the statement of comprehensive income.plan assets (of anemployee benefit plan)(a)(b)Assets held by a long-term employee benefit fund, andqualifying insurance policies.post-employmentbenefitspost-employmentbenefit planspresent valuepresentation currencyprobableprofit or lossprojected unit creditmethodEmployee benefits (other than termination benefits) that arepayable after the completion of employment.Formal or informal arrangements under which an entityprovides post-employment benefits for one or more employees.A current estimate of the present discounted value of the futurenet cash flows in the normal course of business.The currency in which the financial statements are presented.More likely than not.The total of income less expenses, excluding the components ofother comprehensive income.An actuarial valuation method that sees each period of serviceas giving rise to an additional unit of benefit entitlement andmeasures each unit separately to build up the final obligation(sometimes known as the accrued benefit method pro rated onservice or as the benefit/years of service method).222 © IASCF