Statement of Comprehensive Income - Non Presentation

Full PFRS PFRS for SMEs PFRS for SE

Always presented after a If there is no OCI then it Only includes an income

single statement or as a may present only an statement
component of a two- Income Statement
statement presentation

Recognition of Revenue from Contracts with Customers

Full PFRS PFRS for SMEs PFRS for SE

Requires the Application of Requires a simpler Same as PFRS for

the Five-Step Principle principle of transfer of SMEs
significant risk and
1. Identify the Contract rewards
2. Identify Performance
Obligations
3. Determine the
Transaction Price
4. Allocate the Transaction
Price
5. Recognize Revenue

Components of OCI

Full PFRS PFRS for SMEs PFRS for SE

 Changes in Revaluation  Changes in Same as the PFRS

Surplus Revaluation Surplus for SMEs
 Changes in Fair Value  Some Actuarial
of FVOCI Instruments Gains or Losses
 Re-measurement of the  Some Translation
defined net liability Gains or Losses of a
 Translation Gains or Foreign Operation
Losses of a Foreign  Some Changes in
Operation Fair Value of
 Effective portion of Hedging
gains and losses on Instruments
hedging instruments in
a cash flow hedge  Unrealized Gains
and Losses on
FVOCI are not
included because
FVOCI Classification
is not available for
SMEs
 Non-Disclosure of Operating Segment Information

Full PFRS PFRS for SMEs PFRS for SE

Requires listed entities Does not require Same as the PFRS for
to disclose segment disclosure of segmented SMEs
informaton in their notes information or EPs
and EPs on their
statement of Entities making such
comprehensive income disclosures shall
describe the basis for
preparing and
presenting the
information

Accounting for Changes in Accounting Policy

Full PFRS PFRS for SMEs PFRS for SE

Changes in Accounting Changes in Accounting Changes is applied to

Policy are accounted for Policy are Accounted Assets and Liabilities at
using the ff. Priority: For using the ff. Priority the beginning of the
current period
1. Transitional Provision 1. Transitional Provision
in a PFRS if any if any Same treatment is given
2. Retrospective 2. Retrospective to corrections of prior
Application in the Application in the period errors
absence of a absence of a
Transitional Provision Transitional Provision
3. Prospective 3. Prospective
Application if Application if
Retrospective Retrospective
Application is Impractical Application is Impractical

Condensed Financial Statements

Full PFRS PFRS for SMEs PFRS for SE

Provides guidance in the Does not include Same as the PFRS

preparation of Condensed similar provisions for SMEs
Financial Statements
Presented for Interim Periods
Classification of Financial Instruments

Full PFRS PFRS for SMEs PFRS for SE

Classified as Amortized Classified as either basic Same as PFRS for

Costs, FVOCI financial instrument or SMEs except that
(Mandatory), FVOCI non-basic financial PFRS for SE does not
(Irrevocable Election) or instrument provide a “without
FVPL undue cost/effort”