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As compared to full IFRS, IFRS for SMEs simplifies financial reporting by requiring Multiple select question. inventory to be valued on a LIFO basis (rather
As compared to full IFRS, IFRS for SMEs simplifies financial reporting by requiring Multiple select question. inventory to be valued on a LIFO basis (rather than on a FIFO or average cost basis). all borrowing costs to be expensed (rather than some being capitalized). goodwill to be amortized over useful life (rather than tested for impairment)
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