Most accountants still treat the cash flow statement like a back-page formality. But it’s where the story of survival—or growth—really lives. If you’re still shoving bank overdrafts into financing without thinking, or classifying supplier finance as operating outflows because “that’s how it’s always been done,” this is your wake-up call. Here's what the IFRS for SMEs actually says—and how to get it right.

Section 6 of the IFRS for SMEs gives you two options—and choosing the right one can save time, cut costs, and keep your clients out of SARS trouble. In this article, we break down when to use the full Statement of Changes in Equity and when you can simplify with a Statement of Income and Retained Earnings. It’s not just about compliance—it’s about working smarter, billing better, and proving your value.

Too many accountants still fumble the basics of Section 5 reporting—and that can make your work look sloppy, even if it’s technically correct. Whether you're prepping year-end for a client or presenting to a board, how you lay out that income statement matters. This article breaks down exactly what Section 5 of IFRS for SMEs requires—no jargon, no fluff. You’ll see why choosing one or two statements isn’t just an admin choice, and how small mistakes (like calling something "extraordinary") can raise red flags with SARS or your client.