Example IFRS financial statements and checklists of disclosures that may be required.
Our Guides to condensed interim financial statements – incorporating Illustrative disclosures and a companion Disclosure checklist – help you to prepare interim financial statements in accordance with IFRS Standards. They are compliance-focused and have two components:
These guides should not be used as boiler plate templates. The preparation and presentation of financial statements requires you to exercise judgement, in terms of the choice of accounting policies, the ordering of notes to the financial statements, how the disclosures should be tailored to reflect the entity’s specific circumstances, and the relevance of disclosures considering the needs of the users.
Each guide reflects IFRSs that have been published by a specified date and are required to be applied by an entity with a specified annual period – e.g. standards in issue at 15 March 2016 that are required to be applied by an entity with an annual period beginning on 1 January 2016.
Compliance with the standards is a given for investors, but there is a bigger question that needs to be asked: are your financial statements simply a compliance exercise, or have you taken the opportunity to maximise their value to investors? After all, if the statements have to be prepared anyway, then it makes sense to get maximum mileage from your efforts.
As a starting point, ask yourself these simple questions.
We suspect that you will implicitly know the answers to these questions, so the only question left is how can you make your reporting better? To begin answering that question, visit our Better business reporting website.
Annual illustrative disclosures
Supplements to annual illustrative disclosures
Annual disclosure checklists
Condensed interim illustrative disclosures
Condensed interim disclosure checklists
© 2021 Copyright owned by one or more of the KPMG International entities. KPMG International entities provide no services to clients. All rights reserved.
KPMG refers to the global organization or to one or more of the member firms of KPMG International Limited (“KPMG International”), each of which is a separate legal entity. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. For more detail about our structure please visit https://home.kpmg/governance.
Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.