Our Guides to financial statements help you to prepare financial statements in accordance with IFRS. They illustrate one possible format for financial statements prepared under IFRS.
Our illustrative disclosures for banks are based on a fictitious banking group involved in a range of general banking activities, which is not a first-time adopter of IFRS. The 2018 edition (PDF 2.92 MB) shows illustrative disclosures under IFRS 7 Financial Instruments: Disclosures as amended by IFRS 9 Financial Instruments and disclosures required under IFRS 15 Revenue from Contracts with Customers.
It reflects standards in issue at 30 November 2018 that are required to be applied by an entity with an annual period beginning on 1 January 2018, plus the amendment to IFRS 9 affecting prepayment features with negative compensation.
As you apply IFRSs 9 and 15 in your 2018 annual financial statements, embrace the opportunity to think through how best to explain the changes and their effects.
The quality and clarity of explanations of changes in accounting policies and their impacts are key. Investors and other stakeholders will be keenly interested in disclosures of key judgements and estimates.