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Illustrative disclosures Illustrative disclosures

This guide has been produced by the KPMG International Standards Group (part of KPMG IFRG Limited). The guide is intended to help entities to prepare and present condensed consolidated interim financial statements in accordance with IAS 34 Interim Financial Reporting by illustrating one possible format for financial statements for a fictitious multinational corporation involved in general business activities. This hypothetical reporting entity has been applying IFRS Standards for some time – i.e. it is not a first-time adopter.

This guide reflects standards, amendments and interpretations (broadly referred to in this guide as ‘standards’) that have been issued by the International Accounting Standards Board (the Board) as at 15 April 2020 and that are required to be applied by an entity with an annual reporting period beginning on 1 January 2020 (‘currently effective requirements’). Standards other than IAS 34 are not illustrated in this guide, except in the context of disclosures on the face of or in the notes to the condensed interim financial statements. The early adoption of standards that are effective for annual periods beginning after 1 January 2020 (‘forthcoming requirements’) has not been illustrated.

In addition, the standards and their interpretation change over time. Accordingly, this guide should not be used as a substitute for referring to their requirements and other relevant interpretative guidance.

Preparers should also consider applicable local legal and regulatory requirements. This guide does not consider the requirements of any particular jurisdiction – e.g. IFRS Standards do not require the presentation of separate financial statements for the parent entity. Consequently, this guide includes only consolidated financial statements.

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