Disclosure Requirements: What the AFS Must Say About Financial Instruments

Financial instruments are not just about recording numbers, they also require clear and correct notes in the financial statements. This article explains the disclosure requirements under Section 11 of the IFRS for SMEs, focusing on what SMEs must include in their AFS. We cover key areas like impairment, aging of debtors, maturity of loans, and fair value challenges. You will also see examples of common mistakes and how to fix them. This guide helps Business Accountants in Practice meet their disclosure duties with confidence.