Differential reporting for Small- and medium sized entities:

-Requires significantly more disclosures since more items are not recognized in the financial statements.

-Requires significantly more operations to prepare the financial statements

-Different rules for topics such as earnings per share and interim and segment reporting.

-Is required for all companies less than a certain size

-Omits accounting topics not relevant for SMEs such as earnings per share, and interim and segment reporting.

Choose correct option.