While these are some key areas that may be of interest for users, or potential users, of the FRF for SMEs™, there may be other important matters for the financial statements of FRF for SMEs™ users. Additionally, the examples provided here may not align with the particulars for every situation. Be sure appropriate judgment is applied in all reporting requirements.
Illustrative Example of Transition—Initial Application of the FRF for SMEs™ Accounting Framework
Summary of Significant Accounting Policies
Going Concern
Amortization