Amortised cost is one of the most important measurement tools in SME accounting, yet many professionals are unsure how it works. In this article, we explain amortised cost in simple terms and show how to apply it using the effective interest method. You will learn how to measure loans, receivables, and payables correctly, including how to deal with transaction costs and interest. With step-by-step examples and practical tips, this article helps CIBA members confidently apply Section 11 of the IFRS for SMEs in everyday situations.

The moment you enter into a contract involving money, whether it’s a loan, a sale on credit, or an interest-free advance, you need to recognise it in your accounting records. Section 11 of the IFRS for SMEs tells you exactly when and how to do this. In this article, we explain the rules for initial recognition and measurement of financial instruments in simple terms. You’ll learn how to record trade receivables, loans, and financing transactions correctly, and how to apply present value when needed. With practical examples and clear guidance, this article helps you get the basics right from day one.

Now that you understand what a financial instrument is, the next step is to learn how to classify it correctly. This matters because your choice affects how the item is measured, disclosed and tested for impairment. Section 11 of the IFRS for SMEs separates financial instruments into two types: basic and complex. In this article, we explain how to tell the difference in simple terms. We guide you through the rules step by step, using clear examples and everyday situations. By the end, you will feel confident about knowing which part of the standard to apply.

You might think financial instruments are something only corporate giants and investment analysts need to worry about, but if you're raising invoices, paying suppliers, or reviewing AFS under the IFRS for SMEs, you're already deep in that territory. Section 11 of the Standard draws a firm line between basic and complex financial instruments, and understanding this split is essential to getting classification, measurement, and disclosures right. This article breaks down the jargon into plain English and shows why even a local bakery’s overdraft matters when it comes to compliance and professional judgement.

Many accountants treat Section 10 like background noise, until a client changes their accounting treatment halfway through the year, or an old mistake resurfaces just before an audit. This section is not just about policies and paperwork. It’s where your judgement, compliance risk, and credibility collide. Whether you're correcting prior period errors, updating estimates, or defending your position during a SARS review, Section 10 is your foundation. Use it properly, and it becomes a billable tool. Ignore it, and it becomes a liability.

Group financial statements can feel overwhelming—like juggling family dynamics on paper. But Section 9 of the IFRS for SMEs makes it clearer than you think.

This article breaks down the key rules on when to prepare consolidated, separate, or combined statements, and what “control” really means in practice. For CIBA members, it's not just about compliance—it's about helping clients make sense of their business as a whole.

Most accountants treat the notes to the financial statements like the terms and conditions of a software update — long, boring, and best ignored. But here’s the truth: if you’re skipping over Section 8 of the IFRS for SMEs, you’re not just missing out on disclosure—you’re risking client trust, SARS audits, and review queries that eat into your billable hours

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.

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.

Understanding how to account for plants, animals, and farm produce is important for businesses in agriculture. IFRS for SMEs Section 34 explains how to record and report biological assets like crops and livestock and harvested products like milk or fruit. This article breaks down the key rules in simple terms, helping businesses stay compliant and manage their finances better.

The statement of financial position shows what a business owns, what it owes, and what is left for the owners. It helps businesses understand their financial health at a specific point in time. Section 4 of the IFRS for SMEs explains how to present this information clearly. By following these guidelines, businesses can organise their assets, liabilities, and equity in a way that makes sense. This ensures financial reports are accurate and useful for decision-making

Financial statements must be clear, accurate, and follow IFRS for SMEs. They should reflect the true financial position of a business and include key reports like the balance sheet, income statement, and cash flow statement. Consistency, transparency, and proper labeling help ensure reliability for investors and stakeholders.

Investment property under IFRS for SMEs refers to land or buildings held for rental income or capital appreciation. The standard outlines how to recognise, measure, and disclose investment property in financial statements. Properties can be measured at fair value if reliably measurable or at cost if not. Mixed-use properties require classification based on usage. Leased properties can be treated as investment property under specific conditions. Proper accounting ensures transparency and accurate financial reporting for SMEs.