IFRS for SMEs: a practical guide for South African accountants
This guide summarises each section of the IFRS for SMEs Accounting Standard in our own words, with the paragraph references to look up in the Standard itself. It is written for accountants and bookkeepers who compile annual financial statements for South African companies.
Each page ends with how Sight applies the section, because the rules behind these pages are the same rules the Sight compilation engine uses.
Guides
- IFRS for SMEs third edition: what changes for small companies
- Is your FY2028 year-end ready for the IFRS for SMEs third edition?
- Public Interest Score: which framework and what assurance
- IFRS for SMEs disclosure checklist
- Public Interest Score calculator
- IFRS for SMEs annual financial statements example
- IFRS for SMEs glossary
- Categorising bank transactions for IFRS for SMEs: a bookkeeper's guide
The sections
- 1Small and Medium-sized Entities
- 2Concepts and Pervasive Principles
- 3Financial Statement Presentation
- 4Statement of Financial Position
- 5Statement of Comprehensive Income and Income Statement
- 6Statement of Changes in Equity and Statement of Income and Retained Earnings
- 7Statement of Cash Flows
- 8Notes to the Financial Statements
- 9Consolidated and Separate Financial Statements
- 10Accounting Policies, Estimates and Errors
- 11Financial Instruments
- 12Fair Value Measurement
- 13Inventories
- 14Investments in Associates
- 15Joint Arrangements
- 16Investment Property
- 17Property, Plant and Equipment
- 18Intangible Assets other than Goodwill
- 19Business Combinations and Goodwill
- 20Leases
- 21Provisions and Contingencies
- 22Liabilities and Equity
- 23Revenue from Contracts with Customers
- 24Government Grants
- 25Borrowing Costs
- 26Share-based Payment
- 27Impairment of Assets
- 28Employee Benefits
- 29Income Tax
- 30Foreign Currency Translation
- 31Hyperinflation
- 32Events after the End of the Reporting Period
- 33Related Party Disclosures
- 34Specialised Activities
- 35Transition to the IFRS for SMEs Accounting Standard
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