DEFINITION
MEASUREMENT
a) Held for use in the production
or supply of goods or services,
for rental to others, or for
administrative purposes, AND
b) Expected to be used during
MORE THAN ONE PERIOD
DEFINITION
Assistance by government in the
form of a transfer of resources to
an entity in return for past or
future compliance with
specified conditions relating to
the operating activities of the
entity.
Government grant shall be measured at FAIR VALUE of the ASSET RECEIVED or RECEIVABLE
DEFINITION
Interest and other costs that an
entity incurs in connection with
the borrowing of funds.
Specifically include:
a) Interest Expense calculated
using the effective interest
method
b) Finance charges in respect of
finance leases recognized
c) Exchange differences arising
from foreign currency
borrowings to the extent that
they are regarded as an
adjustment to interest costs
INITIAL MEASUREMENT SUBSEQUENT
INITIALLY MEASURED @ “COST”
Cost of PPE comprises the following:
a) Purchase price, including legal and brokerage fees,
Cost Model or
import duties, and nonrefundable purchase taxes.
b) Directly attributable cost Revaluation Model
* To bring the asset to the location and condition
necessary for it to be capable of operating in a manner
intended by management
c) Initial estimate - Dismantling cost and Restoration cost
+ Present Obligation
RECOGNITION AND MEASUREMENT
a) Grant ≠ Specified Future Performance conditions Recognized in Income
when the grant proceeds
are receivable
b) Grant = Specified Future Performance conditions Recognized in Income
when the performance
conditions are met
c) Received the Grant BEFORE revenue recognition
criteria are met Liability
RECOGNITION OF BORROWING COSTS*** DISCLOSURES
PFRS FOR SME FULL PFRS
a) Finance costs
ALL BORROWING COSTS = BORROWING COSTS b) Total interest expense
EXPENSE DIRECTLY ATTRIBUTABLE to using the effective interest
the acquisition, method for financial
PFRS for SMEs does not construction or production liabilities that are not
permit capitalization of of a qualifying asset = measured at fair value
interest even if the interest is CAPITALIZED AS PART OF through profit or loss
directly attributable to the THE COST OF ASSET
acquisition, construction or
production of a qualifying
asset.
 DEFINITION
Identifiable* nonmonetary asset
without physical substance.
*when:
a) Separable
b) Arises from contractual or
other legal rights
GENERAL PRINCIPLE
Recoverable Amount (RA) <
Carrying Amount (CA) =
Reduce CA to RA
*Reduction: Impairment Loss:
Recognized immediately in
profit or loss.
* If an item of PPE is measured
using the revaluation model=
Impairment Loss is charged
FIRST against any Revaluation
Surplus and any excess is
recognized in profit or loss
RECOGNITION
a) Probable that expected
future economic benefits
that are attributable to the
asset will flow to the entity
b) Cost or Value of Asset:
measured RELIABLY
c) Asset does not result from
expenditure incurred
internally on an intangible
item
RECOVERABLE AMOUNT
Higher between FAIR VALUE
LESS COST OF DIPOSAL and
VALUE IN USE (Asset or Cash
Generating Unit)
If either of FV-COD and VIU
exceeds CA = ASSET IS NOT
IMPAIRED
If no reason to believe VIU
materially exceeds FV-
COD, FV-COD = RA
INITIAL MEASUREMENT SUBSEQUENT
MEASUREMENT
1. INITIALLY MEASURED @
“COST”
2. The cost of a separately
Cost
Less: Accumulated
acquired intangible asset
amortization and any
comprises:
a) Purchase price, Impairment Loss
SUBSEQUENT MEASURMENT
including import duties
and nonrefundable
purchase taxes, after (COST MODEL
deducting trade discounts ONLY)
and rebates.
b) Any directly attributable
cost of preparing the asset
for intended use.
FAIR VALUE VALUE IN USE
“The price that would be
received to sell an asset in “The present value of the
an orderly transaction future cash flows expected
between market to be derived from an asset
participants at the or cash generating unit. “
measurement date.”
 PFRS FOR SME FULL PFRS

Same with respect to matters related to PPE such as:

 Measurement, Depreciation Method, Useful Life, Residual Value, Depreciation of significant
components, revaluation, impairment and derecognition.

PFRS FOR SME FULL PFRS

a) GG = Recognized when then condition are
actually satisfied
b) GG ≠ matched with the related expense or
cost
a) GG = Recognized when there is a reasonable
assurance that the entity will comply with the
specified conditions
b) GG = Recognized as income over periods
necessary to match the grant with the related
expense or cost

c) Grant is deferred income until then condition c) Grant related to asset is treated either as
are actually satisfied deferred income or a reduction in the cost of
then asset. No such option under PFRS for SMEs.
PFRS FOR SME FULL PFRS

*** see RECOGNITION OF BORROWING COSTS

PFRS FOR SME FULL PFRS

Research costs are expensed when
A) RESEARCH AND All research and development incurred. However, development costs
DEVELOPMENT costs are recognized as expenses may be capitalized when specific
COSTS when incurred criteria are met, particularly when
technological feasibility has already
been established.
B) SUBSEQUENT
MEASUREMENT COST MODEL ONLY COST or REVALUATION MODEL
Finite, if UL cannot be established Finite or Indefinite
C) USEFUL LIFE reliably, UL = Best Estimate ≤ 10
years
All Intangible assets are amortized Finite Intangible Asset: Amortized and
D) AMORTIZATION and tested for impairment when tested for impairment when there is an
there is an indication that the asset indication
may be impaired Indefinite Intangible Asset: Not
amortized but tested for impairment
annually and whenever there is an
indication
 PFRS FOR SME FULL PFRS
Same with respect to the following:
a) Recognition and measurement of impairment loss
b) Definition of fair value less cost of disposal and value in use
c) Internal and external indicators of impairment
d) Reversal of Impairment
Assets including goodwill, are tested for Assets with finite useful life are tested for
impairment when there is an indication that the impairment when there is an indication that the
asset may be impaired. asset may be impaired

However, the following assets are tested for

impairment annually and when there is an
indication of impairment
a) Goodwill
b) Intangible Assets with an indefinite useful life or
an intangible asset not yet available for use
 DEFINITION RECOGNITION MEASUREMENT
A liability of a) Obligation at the reporting Measured at the Best Estimate*
uncertain date as a result of a past event * The amount an entity would rationally pay to settle the obligation at the
timing and b) Probable transfer of end of reporting period or transfer to a third party at that time.
amount economic benefits in settlement
c) Amount can be estimated a) Material effect of Time Value of Money:
reliably Provision = Present Value
 Discount rate: Pretax rate that reflects current market assessment
of the time value of money
b) Provision involving large population of items:
Estimate amount shall reflect the weighting of all possible outcomes by
their associated probabilities
c) Provision arising from single obligation:
Individual most likely outcome
d) Continuous range of possible outcomes:
Midpoint
Contingent Liability Contingent Asset
a) Possible but uncertain obligation a) Possible asset arising from past event
b) Not probable = Not a Liability b) Existence is confirmed only by occurrence or
 Contingent liability is not recognized unless it has been nonoccurrence of one or more uncertain future events not
acquired in a business combination wholly within the control of the entity
 Only a disclosure is required  Contingent Asset = Not an asset
 Remote = No Disclosure is necessary  Probable inflow of economic benefit (EB) = Disclosed
as contingent asset
 Virtually certain inflow of EB = Recognized as Asset
DEFINITION EXEMPTION FROM THE APPLICATION OF PFRS FOR SMEs
(LEASES)
Agreement whereby the lessor conveys to the lessee in return a) Leases in the exploration industry
for payment or a series of payments the right to use an asset b) Licensing agreement for such items as motion picture films,
for an agreed period of time. video recordings, plays, manuscripts, patents and copyrights
c) Investment Property
d) Biological Assets
e) Leases that could result in a loss to either party as a result of
contractual terms that are unrelated to changes in the price
of leased assets, changes in lease payments based on variably
market interest rate, changes in foreign exchange rate or a
default by one of the counterparties
f) Onerous operating leases
 CLASSIFICATION OF LEASES
Note: Classifying leases depends on the substance of the transaction rather than its legal form
Finance Lease Operating Lease
Definition Transfers to the lessee substantially all of the risks and rewards Does not transfer substantially all of the
incidental to ownership. risks and rewards incidental to
ownership
Major Criteria As long as lease satisfies any one of the ff:
a) Transfer of ownership of the asset at the end of the lease term
b) There is a bargain purchase option
c) Lease term is a major part of the economic life of the asset
even if title is not transferred
d) The present value of the minimum lease payments amounts
to at least substantially all of the fair value of then leased asset
at the inception of the lease
Lessee a) Lower between the fair value of the asset and the present a) Recognize rental payments as an
value of then minimum lease payments: Used to recognize asset expense on a straight line basis unless:
and liability at the commencement of the lease term 1. Another systematic basis is
b) Interest rate implicit in the lease: Used to calculate the present more representative of the
value of the minimum lease payments pattern of the lessee’s benefit
Incremental borrowing rate: Used when Implicit Interest rate 2. Payments to the lessor are
cannot be determined structured to increase in line
c) Initial Direct Costs incurred by lessee: Added to the cost of with the expected inflation to
asset compensate for the lessor’s
d) Asset is depreciated over useful life inflationary cost increases
 If no reasonable certainty of ownership at the end of the b) Cost of services, such as insurance
lease term, Depreciation: Shorter between Useful life and and maintenance, shall be expensed
Lease Term when incurred but not included in rent
e) Minimum lease payments: Apportioned between the finance expense.
charge and the reduction of the outstanding liability using the
effective interest method
f) Contingent Rent: Charged as expense by the lessee in the
period it is incurred
Lessor Direct Financing Lease Sales Type Lease a) Recognize rent income on a straight
Main Distinction Presence or absence of a manufacturer’s or dealer’s profit or line basis unless:
loss 1. Another systematic basis is
What it recognizes Interest income only Both interest income and gross representative of the pattern of
profit on sale the benefit from the leased
a) Recognize a receivable at a) Recognize a receivable at asset.
an amount equal to the new an amount equal the net 2. Payments to the lessor are
investment in the lease. investment in lease structured to increase in line
b) Net investment in the lease b) Net investment in the lease with the expected inflation to
= = compensate for the lessor’s
Cost of the Asset + Present Value of the gross inflationary cost increases
any Initial Direct Cost* investment in the lease b) Present assets subject to operating
incurred by lessor discounted at the implicit leases according to their nature
* Effectively reduces interest interest rate in the lease c) Recognize as an expense costs
income over the lease term incurred in earning the rent income,
 c) Total interest income over
the lease term =
Gross investment in the lease
– Net investment in the lease
d) Gross investment in the
lease =
Gross rentals over the lease
term + residual value (whether
guaranteed or unguaranteed)
* Ownership will transfer to the
lessee upon expiration of the
lease term, residual value is
ignored in computing gross
investment in the lease
e) Initial direct cost incurred
by lessor =
Added to the cost of the asset
to get the net investment in
the lease
DEFINITION
All forms of consideration given by an entity in exchange
for service rendered by employees, including directors and
management, or for the termination of employment.
c) Gross investment in the lease including depreciation of the leased
= asset
(Gross rentals/Lease Term) + d) Any Initial Direct Cost incurred by the
Residual value (whether lessor is amortized as expense over the
guaranteed or unguaranteed) lease term
d) Total interest income over
the lease term = *Unamortized Initial Direct Cost =
Gross investment in the lease - Added to the carrying amount of the
Net investment in the lease leased asset in the statement of
e) Sales = financial position
Lower between net investment
in the lease and fair value of
the asset at the
commencement of the lease
f) COGS =
Cost of the asset + Initial Direct
Cost* incurred by the lessor
* Expensed immediately as
component of COGS
g) Gross Income =
Sales - COGS
EMPLOYEE BENEFITS INCLUDE
MNEMONICS: SPOTS
a) Short-term employee benefits, such as wages, salaries, profit
sharing and bonuses
b) Postemployment benefits, such as retirement benefit plans
and pensions
c) Other long-term employee benefits, such as long-term service
leave and jubilee leave
d) Termination benefits, such as severance and redundancy pay
e) Share-based payments

SHORT-TERM EMPLOYEE BENEFITS

Definition Employee benefits other than termination benefits which are expected to be settled wholly within
twelve (12) months after the end of the period in which the employees render the related service.
Includes a) Salaries, wages and social security contributions
b) Short-term paid absences such as paid annual leave and paid sick leave
c) Profit sharing bonuses payable within twelve months
d) Nonmonetary benefits, such as medical care, housing, car and free or subsidized goods
POSTEMPLOYMENT BENEFITS
Definition  Employee benefits, other than termination benefits and short-term employee benefits, which are
payable after completion of employment.
 Usually embodied in an arrangement known as “postemployment benefit plan”
 Classification of Postemployment Benefits
Defined Contribution Plan Defined Benefit Plan
Definition  Entity pays fixed contribution into a separate  Postemployment plan other than a defined
entity known as the fund. contribution plan
 Entity ≠ legal or constructive obligation to pay  Entity’s obligation is to provide agreed benefits
further contributions if the fund does not hold to employees
sufficient assets to pay all employee benefits  Employee is guaranteed specific or definite
relating to employee service in the current and amount of benefit based on a formula which is
prior periods. usually related to salary and years of service
 Amount of benefit received by EEs is determined
by the amount of contributions paid by the
entity in to a benefit plan or to a trustee,
together with investment returns from
contributions
Contribution Definite Indefinite
Benefit Indefinite Definite
Measurement Recognize the contribution payable for a period: Measure defined benefit liability as the net amount
a) As an expense, unless another provision of the of the ff:
PFRS for SMEs requires the contribution to be a) Present Value of the Defined Benefit Obligation
recognized as part of the cost of an asset, such as at the reporting date
inventory or PPE b) Minus: FV of the plans assets at the reporting date
b) As a liability, after deducting any amount
already paid * Plan Assets: Fund out of which the defined benefit
obligations are to be paid directly
* Contribution Payments > Contribution Due at the
reporting date = Excess = Recognized as an ASSET
Actuarial Gains and Losses
SME: REQUIRED to recognize all actuarial gains and losses in the period in which they occur.
However, SME = ACCOUNTING POLICY CHOICE of recognizing all actuarial gains and losses either:
a) In profit or loss b) In other comprehensive income
OTHER LONG-TERM EMPLOYEE BENEFITS
Definition All employee benefits other than postemployment benefits, short-term employee benefits and
termination benefits
Examples a) Long-term paid absences such as long service or sabbatical leave
b) Jubilee or other long-service benefit
c) Long-term disability benefit
d) Profit sharing and bonuses
e) Deferred compensation
TERMINATION BENEFITS
Definition Payments made by an entity to employees when it terminates their employment as required:
a) By legislation, contractual or other agreement with employees or their representatives
b) By constructive obligation based on business practice, custom or a desire to act equitably
Recognition Recognized as expense and liability when the entity is demonstrably committed to either:
a) Terminate the employment of an employee or group of employees before the normal retirement date
b) Provide termination benefits as a result of an offer made in order to encourage voluntary redundancy
 DEFINITION
 PFRS for SMEs provides that income tax includes all domestic and foreign taxes that are based on taxable profit.
 Also include taxes, such as withholding taxes, that are payable by a subsidiary, associate or joint venture as distributions
to the reporting entity
CURRENT TAX ASSET OR LIABILITY
Definition  Recognized for tax payable based on taxable profit for the current and past periods
 Amount paid for the current and prior periods > Amount payable for those periods = Excess = CURRET
TAX ASSET*
* Prepaid Income Tax
Measurement Measured at the amount expected to be paid or recovered, using the tax rate that has been enacted
or substantively enacted at the reporting date
DEFERRED TAX LIABILITY DEFERRED TAX ASSET TEMPORARY DIFFERENCES
Definition  Amount of income tax  Amount of income tax recoverable in  Differences between the
payable in future periods with future periods with respect to a carrying amount of an asset
respect to a taxable deductible temporary difference (DTD) or liability and the tax basis
temporary difference (TTD)  Deferred tax consequence of a future  Result to:
 Deferred tax consequence of deductible amount and operating loss 1. Future Taxable Amount
a future taxable amount carryforward (TTD)
 Noncurrent Liability  Noncurrent Asset 2. Future Deductible Amount
Recognition  Recognized for all temporary  Recognized for all temporary (DTD)
differences that are expected differences that are expected to
to increase taxable profit in reduce taxable profit in the future
the future  Recognized for the carryover of net
operating loss
 Recognized to the extent that it is
probable that taxable income will be
available against which the deductible
temporary difference can be utilized
Measurement Measured using the Future enacted tax rate
! DTA and DTL ≠ Discounted
ALLOCATION OF TAX EXPENSE
 An entity shall recognize tax expense in the same component of total OCI or Equity as the transaction or
other event that resulted in the tax expense
 Known as intraperiod tax allocation which means that income tax should be deducted from the related
income that brought about the tax
 The recognition of DTA and DTL is known as intraperiod tax allocation
OFFSETTING
 Offset of Current Tax Asset and Current Tax Liability or DTA and DTL shall me made when all of the following
conditions are present:
a) When the entity has a legally enforceable right to set off the amounts
b) When the entity intends either to settle on a net basis or to realize the asset and settle the liability simultaneously
 PFRS FOR SME FULL PFRS
 No significant differences with respect to provisions and contingencies.
 Share the same principles for accounting and reporting provision and for disclosing contingent liabilities and
contingent assets
PFRS FOR SME FULL PFRS
Lessor Accounting Practically the same
Lessee is required to account for the
Lessee shall classify the lease as operating or lease as a finance lease under the new
Lessee Accounting finance based on the transfer of risks and lease standard (PFRS 16) *
rewards incidental to ownership * Lessee is required to initially recognize a lease liability
for the obligation to make payments and a right of use
asset for the right to use the underlying asset over the
lease term

PFRS FOR SME FULL PFRS

Share the same principles for the recognition and measurement for Short-term employee benefits, Defined contribution
plans, Other long-term employee benefits, Termination Benefits
All past service costs Recognized as expense immediately regardless of vesting
Actuarial gain and loss are recognized
Measurements of Defined immediately in: Recognized in OCI
Benefit Plan, including a) P&L b) OCI
Actuarial Gain and Loss SME = Accounting policy choice

Projected Unit Credit Method
Defined Benefit Liability
Concept of Expected return
PFRS FOR SME
* However, amounts recognized in OCI are not subsequently recycled to profit or loss but may be transferred
within equity or retained earnings
Used in measuring the defined benefit liability
if the information that is needed to make such Used in measuring the defined benefit
a calculation is already available or can be liability
obtained without undue cost or effort.
* If not the case, alternative method is permitted in which future
salary, future service and possible mortality between the reporting
date and the date employees are expected to begin receiving
postemployment benefits are not considered
Net total = a) Present Value of benefit obligation at year end
b) Minus the fair value of plan assets at year end
None
All changes in FV of plan assets are Interest income on the FV of plan assets
recognized in P&L at the beginning of the period is
included in P&L as component of
employee benefit expense
* Difference between actual return on plan assets and
interest income = recognized as a remeasurement of
plan assets accounted for as a component of OCI
FULL PFRS
Same in the matter of accounting for income tax
 DEFINITION COMPUTED AS
Residual interest in the assets of an entity after Investments by owners + Additional Investments –
deducting all of its liabilities Reductions in owners’ investments
EQUITY SHARES
Fair Value of the cash of other resources received or receivable, net of direct issue
Measurement cost
* Deferred payment and material time value of money = Initial measurement = present value basis
* Transaction costs (equity transaction) shall be deducted from equity
EQUITY-SETTLED SHARE BASED CASH-SETTLED SHARE BASED
PAYMENT TRANSACTIONS PAYMENT TRANSACTIONS
Entity acquires goods or services by
Entity acquires goods or services as incurring liabilities to the supplier of
Definition consideration for equity instruments of goods or services for amounts that are
the entity. based on the price of the entity’s equity
instruments.
TRANSACTIONS Share Options Share Appreciation Right
Granted to officers and key employees Entitles an EE to receive cash which is
to enable them to acquire shares of the equal to the excess of the market value
Definition entity during a specified period upon of the entity’s share over a
fulfillment of certain conditions at a predetermined price for a stated
specified price. number of shares.

* Additional compensation * Also viewed as Compensation

Fair Value of the share options at the
Measurement
date of grant
a) Vest Immediately
EE ≠ required to complete a specified
period of service before unconditionally
entitled to the share options.
Recognition * Grant date: Compensation is recognized as
expense in full with corresponding increase in
equity
b) Do not Vest until EE completes a
specified service period
Compensation is recognized as
expense over the service or vesting
period
* Creates a liability since this is actually
an obligation on the part of an entity to
pay cash in the future on exercise date
Fair Value of the liability at the reporting
date
* Remeasured at every year-end until finally settled
*Changes in FV: included in P&L
* FV of Liability: Excess of market value of share over a
predetermined price for a given number of shares during
a definite vesting period.
a) Vests Immediately
Compensation is recognized as
expense immediately on the date of
grant
b) Does not vest until the EE complete a
definite vesting period
Compensation is recognized as
expense over the service or vesting
period
 Share-based transaction with cash alternative
 May give either the entity or the counterparty a choice of settling the transaction in cash or by
transfer of equity instrument.
 RULE: Account for the transaction as cash settled share-based payment transaction
 However: Account for the transaction as equity settled share-based payment when:
a) Entity has a past practice of settling by issuing equity instrument
b) The option has no commercial substance because cash settlement amount bears no
relationship to and is likely to be lower than the FV of the equity instrument
SPECIALIZED ACTIVITIES UNDER THE PFRS FOR SMEs
Exploration and
Agriculture Evaluation of Mineral Service Concession
Resources
The management by an  May incur exploration Arrangement whereby a
entity of the biological expenditure government or other public
transformation and  Must develop an sector enters into a contract
harvest of biological accounting policy for with a private operator to
assets for sale or for the recognition of develop, operate and maintain
Definition conversion into exploration and an infrastructure*.
agricultural produce or evaluation asset
* Not an item of PPE of the private
into additional biological  Exploration operator because control over the
assets. expenditure: may be infrastructure asset lies with the

* Biological Assets: Living animals

classified as tangible or government or grantor

and living plants intangible asset * Private Operator: Recognize the FV of

* Agricultural Produce: Harvested
product of the entity’s biological
asset
Measurement Biological Assets =
When FV is readily determinable
w/o undue cost or effort:
Fair Value - Cost of
Disposal (FV – COD)
When FV is not readily
determinable w/o undue cost or
effort
Cost – Acc. Dep. + Acc.
Impairment Loss
Agricultural Produce =
FV – COD at the point of
harvest
*Such measurement at that
date: Initial cost of the
agricultural produce as part of
inventory
* If tangible: item of PPE the infrastructure asset as either
financial asset (when the operator has a
guaranteed contractual right to receive a
specified amount of cash over the life of the
arrangement) or intangible asset (when
the operator has received a right or a license
to charge users for the public service and the
revenue receivable is not agreed upon in
advance but is dependent on the use of the
asset by the public)
Tangible Asset:
Initial: Cost
Subsequent: Cost model
or Revaluation model Financial Asset:
Initial: Fair Value
Intangible Asset: Subsequent: Amortized Cost
Initial: Cost
Subsequent: Cost model
ONLY
 DEFINITION SIGNIFICANT INDICATORS PRESENTATION
Indicated by characteristics Entity’s functional currency = Currency
of the economic of a hyperinflationary economy
environment of a country =
FINANCIAL STATEMENTS: Stated in terms
When the cumulative inflation
PFRS for SMEs ≠ Absolute rate of the measuring unit current at the end
over 3 YEARS is approaching
at which hyperinflation is of reporting
or Exceeds 100%
deemed to arise
Gain or Loss on the monetary position:
HYPEPERINFLATION Included in profit or loss and separately
CONDITION IS A MATTER OF disclosed
JUDGEMENT

PFRS FOR SME FULL PFRS

Practically the same with respect to:
a) Recording of equity instrument e) Dividends
b) treasury Shares f) Other related matters
c) Compound financial instrument
d) Equity swap or extinguishment of financial liability by issuing equity instrument
PFRS FOR SME FULL PFRS
Fair Value at the date of grant
* if FV cannot be measure reliably = Intrinsic Value
* Intrinsic Value: Not mentioned as alternative (excess of market price of the share over the
option price)

Specialized Activities PFRS FOR SME FULL PFRS

Agriculture Same principles
Develop an accounting policy for recognition (If Acc. Pol. Results in
recognition of an exploration and evaluation asset: Measured initially at
Exploration and Evaluation cost)
of Mineral Resources Subsequent measurement: Subsequent measurement:
Tangible: Cost Model or Cost model or Revaluation Model
Revaluation Model (whether tangible or intangible)
Intangible: Cost Model ONLY
Service Concession – Initial Measurement: Fair Value Subsequent Measurement:
Financial Asset Subsequent Measurement: a) Amortized Cost b) FV thru P&L
Amortized Cost c) FV thru OCI
PFRS FOR SME FULL PFRS
Same in all aspects of accounting for an entity whose functional currency is the currency of a
hyperinflationary economy