(IFRS) for Small and Medium-sized Entities (SMEs)
(IFRS) for Small and Medium-sized Entities (SMEs)
(IFRS) for Small and Medium-sized Entities (SMEs)
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<strong>IFRS</strong> FOR SMES – JULY 2009Statement of income <strong>and</strong> retained earningsPurpose6.4 The statement of income <strong>and</strong> retained earnings presents an entity’s profit or loss<strong>and</strong> changes in retained earnings <strong>for</strong> a reporting period. Paragraph 3.18 permitsan entity to present a statement of income <strong>and</strong> retained earnings in place of astatement of comprehensive income <strong>and</strong> a statement of changes in equity if theonly changes to its equity during the periods <strong>for</strong> which financial statements arepresented arise from profit or loss, payment of dividends, corrections of priorperiod errors, <strong>and</strong> changes in accounting policy.In<strong>for</strong>mation to be presented in the statement of income <strong>and</strong>retained earnings6.5 An entity shall present, in the statement of income <strong>and</strong> retained earnings, thefollowing items in addition to the in<strong>for</strong>mation required by Section 5 Statement ofComprehensive Income <strong>and</strong> Income Statement:(a)(b)(c)(d)(e)retained earnings at the beginning of the reporting period.dividends declared <strong>and</strong> paid or payable during the period.restatements of retained earnings <strong>for</strong> corrections of prior period errors.restatements of retained earnings <strong>for</strong> changes in accounting policy.retained earnings at the end of the reporting period.© IASCF 35
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