COMPARISON BETWEEN NFRS, NFRS FOR
SME AND NAS FOR ME
Presenter:
Arun Raut, FCA
12th March 2024
Comparative Presentation of NFRS, NFRS for SME and ME
Areas NFRS SME ME
1.OCI 1.Required 1.Not Required 1.Not Required
if no oci items
2.Change in 2.Required 2.Not Required 2.Not Required
Equity if no OCI
items &
3.Only Two
present
3.First time 3.Three Years years
Statement of
adoption
Income and
SOFP
Retained
Earning
3.May present
three years
Comparative Presentation of NFRS, NFRS for SME and ME
Areas NFRS SME ME
4. Investment 4. Cost or Fair 4. Only Fair 4. Cost
Property Value Value
5. Cost or 5. Cost or 5. Cost
5. PPE Revaluation Revaluation
6. Borrowing 6. Borrowing 6. All 6. All
Cost Cost on borrowing borrowing
Qualifying cost Cost
Assets charged to charged to
Capitalized SOPL SOP
Comparative Presentation of NFRS, NFRS for SME and ME
Areas NFRS SME ME
7. Intangible 7. Having finite 7. Having finite 7. Not specified
life; amortized life; amortized
up to estimated maximum up to
life 10 yrs
8. Intangible 8. Cost
8. Cost or 8. Cost or
Revaluation Revaluation
9. Research & 9. Both R& D
Development Charged to
9. Research 9. Both R& D SOPL
charged to Charged to
SOPL, SOPL
Development
Capitalized
Comparative Presentation of NFRS, NFRS for SME and ME
Areas NFRS SME ME
10. Government 10. Shown as 10. If condition 10. Shown as
Grant-Capital Deferred fulfilled, all Deferred
Grant Revenue and income is Revenue and
charged to SOPL shown as charged to SOPL
according to income if according to
Depreciation condition is not Depreciation
fulfilled shown
11. Computed as liability under
deferred
11. Deferred Tax income
11. Not required
11. Computed
Arun Raut, FCA
