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

IFRS FOR SMES – JULY 2009Derivation tableThe IFRS for SMEs was developed by:(a)(b)extracting the fundamental concepts from the IASB Framework and the principlesand related mandatory guidance from full IFRSs (including Interpretations), andconsidering the modifications that are appropriate on the basis of users’ needs andcost-benefit considerations.The table below identifies the primary sources in full IFRSs from which the principles ineach section of the IFRS for SMEs were derived.Section in the IFRS for SMEsPreface1 Small and Medium-sized Entities —2 Concepts and PervasivePrinciplesSources3 Financial Statement Presentation IAS 14 Statement of Financial Position IAS 15 Statement of Comprehensive IAS 1Income and Income Statement6 Statement of Changes in Equityand Statement of ComprehensiveIncome and Retained EarningsIAS 1Preface to International Financial ReportingStandardsIASB Framework, IAS 1 Presentation ofFinancial Statements as revised in 20077 Statement of Cash Flows IAS 7 Statement of Cash Flows8 Notes to the Financial Statements IAS 19 Consolidated and SeparateFinancial Statements10 Accounting Policies, Estimatesand Errors11 and12Basic Financial Instruments andOther Financial InstrumentsIssuesIAS 27 Consolidated and SeparateFinancial Statements as amended in 2008IAS 8 Accounting Policies, Changes inAccounting Estimates and ErrorsIAS 32 Financial Instruments: Presentation,IAS 39 Financial Instruments: Recognitionand Measurement,IFRS 7 Financial Instruments: Disclosures13 Inventories IAS 2 Inventories14 Investments in Associates IAS 28 Investments in Associates15 Investments in Joint Ventures IAS 31 Interests in Joint Ventures16 Investment Property IAS 40 Investment Property17 Property, Plant and Equipment IAS 16 Property, Plant and Equipment18 Intangible Assets other thanGoodwillIAS 38 Intangible Assets19 Business Combinations andGoodwill20 Leases IAS 17 LeasesIFRS 3 Business Combinations as revisedin 2008© IASCF 229