The reporting standard for small and medium sized companies a) Is based on the same principles as the full IFRS, but they are simplified. b) Is recommended for all companies less than a certain size. c) Adds accounting topics relevant for SMEs, such as earnings per share, and interim and segment reporting. d) Different rules for topics such as Cash Flow statement, calculation of realizable value. e) Requires significantly less disclosures, since less items are recognized in the financial statements.