Guides to IFRS financial statements | KPMG | CN

Guides to IFRS financial statements

Guides to IFRS financial statements

Illustrative IFRS financial statements and checklists of disclosures.

1000

Related content

KPMG Guides to interim IFRS financial statements 2015 publication image: financial statement and disclosure word cloud

Illustrative IFRS financial statements and checklists of disclosures.

Your essential year-end guides

Our Guides to financial statements help you to prepare financial statements in accordance with IFRS. They have two components:

  • Illustrative disclosures, including supplements, that illustrate one possible format for financial statements prepared under IFRS, based on a fictitious multinational corporation; and 
  • a companion Disclosure checklist, which identifies the disclosures that may be required based on currently effective standards and also includes disclosures for the forthcoming standards that are available for early adoption.

Impact of the new standards

Users and regulators have shown a growing interest in the possible impact of the new major standards that have been issued but are not yet effective – i.e. IFRS 9 Financial Instruments, IFRS 15 Revenue from Contracts with Customers and IFRS 16 Leases. Regulators have communicated their expectation that, as the implementation of the new standards progresses, more information about their possible impact should become reasonably estimable and companies will be able to provide progressively more entity-specific qualitative and quantitative information about the application of the new standards in their financial statements.

The 2017 annual Illustrative disclosures therefore include disclosures on the possible impact of standards.

Early adoption of the new standards

For entities that decide to early adopt, the following Illustrative disclosures are available:

For entities that decide to early adopt, Chapter 6 in the Disclosure checklist includes the disclosure requirements of standards that are available for early adoption.

Better communication

Investors continue to ask for a step-up in the quality of business reporting, so companies should be careful not to become buried in compliance to the exclusion of relevance. In preparing their financial statements, companies need to focus on improving their communication by reporting financial information in a meaningful way and innovating their financial statement presentation and disclosure in the broader context of better business reporting. For more information, see our Better business reporting website.

Download our guides

Annual Illustrative disclosures

2017 edition | 2016 edition | 2015 edition

Supplements to annual Illustrative disclosures  

IFRS 15 supplement

IFRS 12 supplement

Annual Disclosure checklists

2017 edition | 2016 edition | 2015 edition

Interim Illustrative disclosures

2017 edition | 2016 edition | 2015 edition  

Interim Disclosure checklists

2017 edition | 2016 edition | 2015 edition  

Annual Illustrative disclosures for sectors   

Investment funds (2016)

Banks (IFRS 9; 2015)

Banks (IAS 39; 2016) | 2017 supplement

© 2017 KPMG IFRG Limited is a UK company, limited by guarantee. All rights reserved. KPMG IFRG Limited, registered in England No 5253019. Registered office: 15 Canada Square, London, E14 5GL, UK.

Connect with us