Income Statements That Work as Hard as You Do

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.