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Our Guides to financial statements help organizations prepare financial statements in accordance with IFRS Standards. They have three components: 

  • Illustrative disclosures, which illustrate one possible format for financial statements, based on a fictitious multinational corporation; 
  • Disclosure checklist, which identifies the disclosures that may be required based on currently effective standards; and
  • COVID-19 supplement, which illustrates additional disclosures that companies may need to provide on accounting issues arising from the COVID-19 coronavirus pandemic.

 

These guides will help organizations to tell their story based on their specific circumstances: they will help ensure that the organization’s financial reporting provides the information that users need, through clear, meaningful and specific disclosures.

  

Interim financial statements

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Illustrative disclosures for interim financial statements

This 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.

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Checklist

Disclosure checklist for interim financial statements

This guide is intended to help entities to prepare and present condensed consolidated interim financial statements in accordance with IAS 34 Interim Financial Reporting by identifying the potential disclosures required. In addition, it includes the minimum disclosures required in the condensed interim financial statements of a first-time adopter of IFRS Standards.

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Interim financial statements & COVID-19

Preparing 2020 interim financial statements is likely to involve more than the usual update since the last annual financial statements. Investors and other users may expect information above and beyond what is typically disclosed. What are the issues and what actions can management take now?

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Annual financial statements & sector-specific guidance

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COVID-19 supplement guide to annual financial statements

This guide illustrates one possible format for financial statements based on a fictitious multinational listed corporation (the Group) involved in general business activities. This supplement focuses on the additional disclosures that entities may need to provide on accounting issues arising from the COVID-19 coronavirus pandemic. 

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Checklist

Disclosure checklist for annual financial statements

This guide is intended to help entities to prepare and present financial statements in accordance with IFRS Standards by identifying the potential disclosures required. In addition, it includes the minimum disclosures required in the financial statements of a first-time adopter of IFRS Standards.

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Hourglass

Illustrative disclosures for annual financial statements

This guide is intended to help entities to prepare and present financial statements in accordance with IFRS Standards by illustrating one possible format for financial statements for a fictitious multinational corporation (the Group) involved in general business activities. This hypothetical reporting entity has been applying the Standards for some time – i.e. it is not a first‑time adopter. 

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Illustrative disclosures for insurers

Our illustrative disclosures for insurers are based on a fictitious multinational insurer that is not a first-time adopter of IFRS Standards.

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Illustrative disclosures for banks

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 Standards. This 2020 edition reflects standards in issue at 30 November 2020 that are required to be applied by an entity with an annual period beginning on 1 January 2020. It the early adoption of IBOR reform Phase 2 amendments and notes on possible additional disclosures in relation to the impact of the COVID-19 coronavirus pandemic.

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Investment funds – Illustrative disclosures

​​Our illustrative disclosures for investment funds are based on a fictitious tax-exempt open-ended single-fund investment company, which is not a first-time adopter of IFRS Standards.​ This 2020 edition reflects standards in issue at 31 December 2020 that are required to be applied by an entity with an annual period beginning on 1 January 2020 and early adoption of the IBOR reform Phase 2 amendments. It also notes additional disclosures that funds may consider in relation to the impact of the COVID-19 coronavirus pandemic.​​

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