Overview of significant differences

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In this publication, we provide you with an overview of the most significant differences between the current Danish Financial Statements Act, the new Danish Financial Statements Act (applicable to financial years starting on or after 1 January 2016) and current IFRS standards.

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Overview of significant differences between the current Danish Financial Statements Act, the new Danish Financial Statements Act and IFRS

In this publication, we provide you with an overview of the most significant differences between the current Danish Financial Statements Act, the new Danish Financial Statements Act (applicable to financial years starting on or after 1 January 2016) and current IFRS standards.


The publication primarily focuses on recognition and measurement differences and only highlights a few of the differences in terms of disclosure and presentation.

Please note that only significant differences are included and that application of this overview does not guarantee identification of all differences. This will require a more detailed analysis of the entity's specific circumstances and transactions.

Adopted IFRS standards that have not yet come into force are not discussed, e.g. IFRS 9, IFRS 15 and IFRS 16.

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© 2016 KPMG Statsautoriseret Revisionspartnerselskab, a Denmark Limited Liability Partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

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