FULL PFRS
STATEMENT
OF
FINANCIAL
POSITION
Minimum line of items
required to be presented
for SMEs
 Cash and cash equivalents
 Trade and other receivables
 Financial assets
 Inventories
 f. Furniture and fixtures
Property, Plant and
Equipment
 Investment Property
 Intangible Assets
 Biological Assets carried at
cost less accumulated
depreciation
 Biological Assets carried at
fair value through profit or
loss
 Investment in Associates
 Investment in joint ventures
 Trade and other payables
 Financial liabilities
 Current tax assets and
current tax liabilities
 Deferred tax assets and
deferred tax liabilities
 Classify assets and liabilities as current if
Provisions
 Non-controlling interest
 Equity attributable to the
owners of parent
PFRS FOR SMEs
requires Not required to be presented requires presentation of
Required to be  Total of assets classified as held
presented under full presentation both investments in
for sale
PFRS of associates and investment
 Total of liabilities included in
 Total of assets investment disposal group, held for sale in joint ventures.
classified as held for
in associates
sale
 Total of liabilities but not Shall disclose, either in the statement of Financial Position or in the
included in disposal investment Notes, the following sub classifications of line items presented:
group classified as in joint
held for sale
ventures
1. PPE with the following 2. Trade and other
3. Inventories
sub classifications receivables,
A third statement of Financial Position classified
a. Land and Building showing separately
a. Raw materials
as at the beginning of the earliest b. Machinery a. amounts due from
b. Work in
comparative period shall be prepared: c. Boats related parties,
Process
a. When an entity applies d. Aircraft b. amounts due from
c. Finished
accounting policy retrospectively e. Motor Vehicles other parties and
Goods
c. accrued income
b. When an entity makes
g. Office equipment not yet billed
retrospective restatement
c.When an entity reclassifies items 6. Classes of
in its financial statements. equity such
4. Trade and other
(not required under PFRS for SMEs) as Share
payables, showing 5. Provisions for capital, Share
separately amounts employee Premium,
payable to trade benefits and Retained
CURRENT AND NONCURRENT suppliers, payable to other provisions Earnings, and
CLASSIFICATION items of OCI.
related parties, deferred
Present assets and liabilities separately
under current and non-current classification income and accruals
unless
c. Presentation based on liquidity is
reliable and more relevant. CURRENT AND NONCURRENT Classify assets and
d. Assets and liabilities shall be presented CLASSIFICATION liabilities as current if
in order of approximate liquidity Present assets and liabilities separately they are:
(Ascending or descending) under current and non-current a. Involved in the
classification unless operating cycle
a. Presentation based on liquidity is b. Expected to be
reliable and more relevant.
realized or settled
they are: b. Assets and liabilities shall be
presented in order of approximate within twelve
c. Involved in the operating cycle
d. Expected to be realized or settled within liquidity months from the
twelve months from the reporting date (Ascending or descending) reporting date