The effects on the financial statements are as follows:

Entry table

1. Extra section appears in Entry table for user to enter information regarding shipping activities that are used in the financial statements document.
2. Alternative wording for PPE -  this becomes “Vessel”

Report of the Board of Directors

Principal activities - wording changed

Income Statement

1. “Cost of sales” is changed to “Direct expenditure”
2. "Raw materials and consumables used" becomes "Changes in inventories of fuel and lubricants"
3. Selling expenses combined with administration expenses by default

Notes to the financial statements affected

1. Incorporation and principal activities - wording changed
2. Principal activities - wording changed
3. Accounting policies changed
   
   • Retirement benefit costs
   • Finance costs
   • Tax
   • PPE
4. Financial risk management - Tourist industry risk
5. Tax – hidden
6. Significant agreements with management – shown by default

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