A. The following sections will be affected on selecting that the entity is an investment fund:

Entire financial statements
The description of the entity changes to ‘Fund’

Cash flow statement
The default method of the statement presentation changes from the ‘indirect’ to the ‘direct’ method

Board of directors and other officers
New sections for ‘Custodian’, ‘Investment manager’ and ‘Tax Advisor’

Report of the Board of Directors -
New paragraph is presented for ‘Accounting records‘

Statement of profit or loss and other comprehensive income
Audit and legal fees are presented separately on the face of the statement.

Statement of financial position
‘Cash at bank and in hand’ are presented first rather than last within current assets

Extra notes to the financial statements
New note is presented for ‘Classification and fair values of financial assets and liabilities’

Changes to the notes to the financial statements

• ‘Trade and other payables’ becomes ‘Creditors and accruals’
• Under ‘Related party transactions’ note there is a new section for ‘Investment manager’

In addition to the above for liability funds the following will be affected

1. References to ’Equity’ are hidden
2. ‘Retained earnings’ are not presented in the statement of financial position
3. ‘Total liabilities becomes ’Total liabilities (excluding net assets attributable to holders of redeemable shares)’
4. ‘Net assets attributable to holders of redeemable shares’ are presented at the bottom of the statement of financial position
5. The ‘Statement of changes in Equity’ is substituted by the ‘Statement of net assets attributable to holders of redeemable shares’
6. ‘Profit’ in Statement of profit or loss and other comprehensive income is renamed as ‘Increase in net assets attributable to holders of redeemable shares’
7. All normal references to ‘Dividend’’ are skipped
8. New policy if presented for ‘Dividend income and dividend expense’ and ‘Dividends to holders of redeemable shares’
9. Note for ‘Redeemable shares’ is substituted by the note ‘Net assets attributable to holders of redeemable shares’
10. A note for ‘Other key contracts’ is presented

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