This publication illustrates best practice disclosures, updated to comply with the latest requirements of the Singapore Companies Act, Singapore Financial Reporting Standards (FRSs) and Singapore Exchange Limited (SGX) Listing Manual.

Applicable to companies with a financial year ending 31 December 2014, these illustrative financial statements have been updated to include, amongst others, example disclosures for:

• FRS 110 Consolidated Financial Statements, FRS 111 Joint Arrangements and FRS 112 Disclosure of Interests in Other Entities;
• Amendments to FRS 32 Financial Instruments: Presentation – Offsetting Financial Assets and Financial Liabilities;
  
• Amendments to FRS 36 Impairment of Assets – Recoverable Amount Disclosures for Non-Financial Assets; and
  
• INT FRS 121 Levies
  

While care has been taken in the preparation of this publication, reference to accounting standards and other authoritative material should be made, and specific advice sought, in respect of any particular transaction or specific circumstances. No responsibility for loss occasioned to any person acting or refraining from action as a result of any material in this publication can be accepted by KPMG Singapore or any member of KPMG International.

Copies of this publication are available to any individual, organisation or group at a charge of S$50 (excluding GST at the prevailing rate). Please contact your regular KPMG contacts.