This issue of IFRS Notes provides an overview of some of the significant clarifications/ guidance provided in the GN issued by … financial statements (SPFS) or complied with the RDR framework. Guide to annual financial statements. Guides to financial statements. This publication presents PwC's illustrative consolidated financial statements for a fictitious listed company, containing illustrative disclosures for as many common scenarios as possible. From the IFRS Institute – May 29, 2020 IFRS Standards do not require companies to prepare interim financial statements, but many companies do so, either by choice or to comply with laws, regulations or contractual requirements. Read the KPMG summary of 2020 IFRS IC agenda decisions to understand the latest discussions. These are illustrative IFRS financial statements of a listed company, prepared in accordance with International Financial Reporting Standards. About Singapore Illustrative Financial Statements 2020 This publication is produced by KPMG in Singapore, and the views expressed herein are those of KPMG in Singapore. This publication is an illustrative financial statements (IFS) of a Singapore-incorporated company, ABC Pte. Important notices: This publication is intended as an illustrative guide rather than a definitive statement. This publication presents illustrative interim financial statements for a fictitious listed company, VALUE IFRS Plc, for the six months to 30 June 2020. The following are illustrative financial statements from the respective public accounting firms, which are prepared based on IFRS, and the related disclosure checklists to be used in the preparation of financial statements in accordance with IFRS. Illustrative Financial Statements 2016. In particular, the illustrative examples provide example disclosures which may assist preparers in making appropriate disclosures relating to the valuation and rent changes in the current environment. IFRS 1.22 If the financial statements contain historical summaries or comparative information under previous GAAP, then an entity: S 1.22(a)IFR (a) labels the previous GAAP information prominently as not being prepared under IFRSs; and (previously Illustrative financial statements: Investment funds) takes account of the impact of the following new or revised IFRSs, which are effective for the first time for an annual reporting period ending on 31 December 2013: • Disclosures – Offsetting Financial Assets and Financial Liabilities (Amendments to IFRS 7) (2011); • IFRS 12 Disclosure of Interests in Other Entities; and The amendments provide targeted relief for financial instruments qualifying for hedge accounting under IAS 39 or IFRS 9. Illustrative format for stand-alone financial statements and consolidated financial statements; Illustrations that provide guidance on application of the principles provided in the GN. Illustrative . KPMG have published a supplemental guide to financial statements that includes guidance specifically relevant to real estate companies/funds. The accounts comply with IFRS as issued at 31 May 2020 and that apply to financial years commencing on or after 1 January 2020. Prominent accounting and auditing firms have recently published the latest versions of their 2020 illustrative financial statements along with guidance on COVID-19 related disclosures and accounting implications.. Here’s a list of a few of these illustrative financial statements and COVID-19 related guidance from some of the best sources on the internet: Given the number and significance of foreign private issuers using IFRS Standards in the US capital markets as well as the number of US companies investing abroad, an understanding of the differences between IFRS Standards and US GAAP is important to preparers and users of financial statements. The Standard that introduces substantive changes from the 2018 version of our illustrative financial statements is NZ IFRS 16 Leases. IFRS ® Standards. Illustrative Financial Statements 2015. IFRS Guide to annual financial statements – Illustrative disclosures for investment funds (KPMG IFRG Limited, 1 December, 2013 ) Guide to annual financial statements - Illustrative disclosures for banks Illustrative Financial Statements 2017. December 2019 model financial statements (for June 2020) These model financial statements (in conjunction with the Australian financial reporting guide) contain complete illustrative disclosures for companies preparing general purpose financial statements in full compliance with Australian Accounting Standards as at 30 June 2020. Illustrative Financial Statements 2014. International Financial Reporting Standards (IFRS) Illustrative Financial Statements and Disclosure Checklists. A guide for companies listed on the Main Board of The Stock Exchange of Hong Kong Limited, which are required to prepare their annual financial reports. Insurance - 2019 Illustrative IFRS consolidated financial statements Investment funds - 2020 Industry Illustrative financial statements Investment property - 2019 Industry Illustrative financial statements They are effective for annual periods beginning on or after 1 January 2020. 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