Guides to IFRS financial statements

Guides to IFRS financial statements

Illustrative IFRS financial statements and checklists of disclosures.

Illustrative IFRS financial statements and checklists of disclosures.

Focusing on compliance in financial reporting

Our Guides to financial statements help you to prepare financial statements in accordance with IFRS. They are compliance-focused and 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.

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 expect preparers to progressively enhance the related disclosures, including quantitative information, as new accounting policies are defined, estimation uncertainty reduces and the effective date of a new standard approaches.

The 2016 annual Illustrative disclosures therefore include disclosures on the possible impact of standards issued but not yet effective.

In addition, the 2017 interim Illustrative disclosures show how an entity might describe in its interim financial statements updates to information relevant to assessing the possible impact that the application of the new standards will have on its financial statements in the period of initial application.

Early adoption of the new standards

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

  • Appendix V in the 2016 annual Illustrative disclosures illustrates the
    effects of early adopting IFRS 9; (PDF 2.62 MB) and 
  • IFRS 15 supplement (PDF 1.45 MB) to annual Illustrative disclosures.

But compliance is just the beginning…

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 2016 edition (PDF 2.62 MB)| 2015 edition | 2014 edition (PDF 2.12 MB)
Supplements to annual Illustrative disclosures IFRS 15 supplement (PDF 234 KB)
IFRS 12 supplement (PDF 1.2 MB)
Annual Disclosure checklists 2016 edition (PDF 2.5 MB)| 2015 edition | 2014 edition (PDF 1.48 MB)
Interim Illustrative disclosures 2017 edition (PDF 258 KB)| 2016 edition | 2015 edition (PDF 223 KB)
Interim Disclosure checklists 2017 edition (PDF 1.45 MB)| 2016 edition | 2015 edition (PDF 1.2 MB)
Annual Illustrative disclosures for sectors Investment funds (2016) (PDF 267 KB)
Banks (IFRS 9; 2015) (PDF 2.78 KB)
Banks (IAS 39; 2016) (PDF 1.45 MB)
Downloads our guides     
Annual illustrative disclosures 2016 edition | 2015 edition | 2014 edition
Supplements to annual illustrative disclosures IFRS 15 (November 2015)IFRS 12 (December 2014)
Annual disclosure checklists 2016 edition | 2015 edition | 2014 edition
Condensed interim illustrative disclosures 2016 edition | 2015 edition | 2014 edition
Condensed interim disclosure checklists 2016 edition | 2015 edition | 2014 edition
Annual illustrative disclosures for sectors   Investment funds (2016) | Banks (IFRS 9; 2015) | Banks (IAS 39; 2016 year ends)
2015 edition

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