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Chapter 16

The IFRS for SMEs Standard

2.1 Background

The IFRS for SMEs Standard was issued for use by entities that have no public
accountability.

This standard reduces the burden of producing information that is not likely to be of
interest to the stakeholders of a small or medium company.

2.2 Omissions from the IFRS for SMEs Standard

The content of some IFRS and IAS Standards is excluded from the IFRS for SMEs
Standard because the cost of preparing and reporting that information would exceed
the benefits that users would derive from that information.

Earnings per Assets held for
share sale

OMISSIONS

Operating Interim
segments reporting

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