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

IFRS FOR SMES – JULY 2009CONTENTSpageINTRODUCTIONINTERNATIONAL FINANCIAL REPORTING STANDARDFOR SMALL AND MEDIUM-SIZED ENTITIES (IFRS for SMEs)PREFACE 6Section1 SMALL AND MEDIUM-SIZED ENTITIES 102 CONCEPTS AND PERVASIVE PRINCIPLES 123 FINANCIAL STATEMENT PRESENTATION 224 STATEMENT OF FINANCIAL POSITION 275 STATEMENT OF COMPREHENSIVE INCOME AND INCOME STATEMENT 316 STATEMENT OF CHANGES IN EQUITY AND STATEMENT OF INCOMEAND RETAINED EARNINGS 347 STATEMENT OF CASH FLOWS 368 NOTES TO THE FINANCIAL STATEMENTS 419 CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS 4310 ACCOUNTING POLICIES, ESTIMATES AND ERRORS 4911 BASIC FINANCIAL INSTRUMENTS 5412 OTHER FINANCIAL INSTRUMENTS ISSUES 6913 INVENTORIES 7614 INVESTMENTS IN ASSOCIATES 8115 INVESTMENTS IN JOINT VENTURES 8516 INVESTMENT PROPERTY 8917 PROPERTY, PLANT AND EQUIPMENT 9218 INTANGIBLE ASSETS OTHER THAN GOODWILL 9819 BUSINESS COMBINATIONS AND GOODWILL 10420 LEASES 11021 PROVISIONS AND CONTINGENCIES 118Appendix—Guidance on recognising and measuring provisions22 LIABILITIES AND EQUITY 127Appendix—Example of the issuer’s accounting for convertible debt23 REVENUE 135Appendix—Examples of revenue recognition under the principles inSection 2324 GOVERNMENT GRANTS 14925 BORROWING COSTS 15126 SHARE-BASED PAYMENT 15227 IMPAIRMENT OF ASSETS 158© IASCF 3