IFRS for SMEs / Section 4: Statement of Financial Position

Section 4: Statement of Financial Position

Section 4 lists the minimum line items on the balance sheet, the current and non-current classification, and the sub-classifications that may appear on the face or in the notes.

Disclosures to look for

4.2 The minimum line items, including cash, receivables, inventories, property, plant and equipment, payables, provisions, tax and equity.
4.5–4.7 Current and non-current classification of assets and liabilities.
4.11 Sub-classifications such as receivables from related parties and classes of equity.
4.12 Share capital details: authorised and issued shares, par value and a reconciliation of shares outstanding.

Third edition (2025 changes)

Line items are disaggregated when that is relevant to understanding the entity's position (4.3).

How Sight applies it

Each account's taxonomy leaf decides its balance sheet line, its current or non-current side and its note; loans to and from directors appear on their own lines.

Compile IFRS for SMEs financial statements from the ledger. SightAccounting selects the policies, builds the notes and checks the disclosures before you sign. Start a 60-day free trial.