Goal of this series:

To present all the requirements from the standard per topic/section, simplify the requirements and help delegates visualise its application using examples by showing debits and credits, calculations and extracts of possible disclosure.

Session 1 introduces the IFRS for SMEs accounting framework, identifying what the minimum content requirements are for each statement that forms part of an IFRS for SMEs based set of financial statements, including the balance sheet, income statement, etc. This understanding will help you better discern what makes up a set of financial statements, to establish if something is missing or not presented appropriately, as well as looking at what accounting policy elections are available for the presentation of information in each statement.