This guide highlights practice where IFRS is applied consistently globally
Users and regulators often require companies to provide combined and/or carve-out financial statements because they can provide meaningful, relevant and useful information.
There is no specific IFRS that deals with combined and/or carve-out financial statements, and local practices have developed, often in discussions with regulators.
The result is that answers to questions about combined and/or carve-out financial statements have not always proven to be intuitive and/or consistent around the globe, which makes the preparation of combined and/or carve-out financial statements a challenging process that requires considerable judgement by management.
This new publication helps companies when preparing combined and/or carve-out financial statements in accordance with IFRS. It highlights practice where IFRS is applied consistently globally and draws attention to those areas in which we have observed diversity in the application of IFRS.
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