The objective of financial statements is to provide information for economic decisions. A complete set of financial statements comprises a balance sheet, income statement, statement of changes in equity, cash flow statement and explanatory notes (including accounting policies). There is no prescribed format for the financial statements. However, the Implementation Guidance for the IFRS for SMEs includes a full illustrative set of financial statements and a disclosure checklist. There are minimum disclosures to be made on the face of the [...]