Our Guides to financial statements help you to prepare financial statements in accordance with IFRS. They are compliance focused and illustrate one possible format for financial statements prepared under IFRS.
This edition is based on a fictitious tax-exempt open-ended single-fund investment company, which is not a first-time adopter of IFRS.
The company does not form part of a consolidated entity or hold investments in any subsidiaries, associates or joint venture entities.
Please note that this guide should not be used as a boiler plate template. 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.
This guide reflects standards in issue at 15 December 2016 that are required to be applied by an entity with an annual period beginning on 1 January 2016.
The early adoption of standards that are effective for annual periods beginning after 1 January 2016 has not been illustrated in this guide.
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.
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