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The following sample and illustrative financial statements provide examples of reporting under IFRSs. The sample financial statements are prepared based on the IFRSs effective at the entity’s reporting date as required by IFRSs. The illustrative financial statements are based on the IFRSs at a date specified in each statement. Consequently, as IFRSs are amended, the examples provided will not reflect all standards currently effective. These examples provide a useful reference point for preparing IFRS financial statements, but we do not represent that they are necessarily compliant in all respects with IFRSs and regulatory requirements. Disclosures explaining the effect of the transition from an entity’s previous GAAP financial statements to IFRSs are required in the year of adoption. These disclosures are not required in subsequent IFRS statements. Therefore, examples of financial statements in the first year of adoption and for the years after first-time adoption of IFRS are included below. For interim financial samples, both the minimum required condensed set and the optional complete set are provided. A financial reporting commentary prepared by AcSB staff on "Interim Financial Statements in the Year of Adoption" provides additional information to consider.
Index
Canadian-Filed IFRS Financial Statements Interim Annual
Model/ Illustrative IFRS Financial Statements
Interim Annual
Canadian-Filed IFRS Financial Statements
Interim - First-time Adopters - Condensed Paragraph 6 of IAS 34 Interim Financial Reporting - In the interest of timeliness and cost considerations and to avoid repetition of information previously reported, an entity may be required to or may elect to provide less information at interim dates as compared with its annual financial statements. This Standard defines the minimum content of an interim financial report as including condensed financial statements and selected explanatory notes. The interim financial report is intended to provide an update on the latest complete set of annual financial statements. Accordingly, it focuses on new activities, events, and circumstances and does not duplicate information previously reported. Anooraq Resources Corporation – Condensed Northern Dynasty Ltd. – Condensed Platmin Limited - Condensed Back to Top Interim - First-time Adopters - Complete If an entity publishes a complete set of financial statements in its interim financial report, the form and content of those statements shall conform to the requirements of IAS 1 Presentation of Financial Statements. Eastern Platinum Limited – Complete SouthGobi Energy Resources - Complete
Thomson Reuters – Complete
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Interim - First-time Adopters – Complete – US GAAP to IFRS Tethys Petroleum Limited
Interim - Existing IFRS Preparers - Condensed Paragraph 6 of IAS 34 Interim Financial Reporting - In the interest of timeliness and cost considerations and to avoid repetition of information previously reported, an entity may be required to or may elect to provide less information at interim dates as compared with its annual financial statements. This Standard defines the minimum content of an interim financial report as including condensed financial statements and selected explanatory notes. The interim financial report is intended to provide an update on the latest complete set of annual financial statements. Accordingly, it focuses on new activities, events, and circumstances and does not duplicate information previously reported.
Homburg Invest Inc. - Condensed
Orca Exploration Inc. - Condensed
Eastern Platinum Limited Anooraq Resources Corporation Platmin Limited Thomson Reuters Corporation SouthGobi Resources Ltd Northern Dynasty Minerals Ltd.
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Annual - First-time Adopters Anooraq Resources Corporation – December 31, 2009 Eastern Platinum Limited – December 31, 2009 Northern Dynasty Ltd. - December 31, 2009 SouthGobi Energy Resources – December 31, 2009 Thomson Reuters – December 31, 2009 Platmin Limited – December 31, 2009 Annual - First-time Adopters - US GAAP to IFRS Tethys Petroleum Limited – December 31, 2009
Annual - Existing IFRS Preparers Homburg Invest Inc. – December 31, 2008 Orca Exploration Inc. – December 31, 2008
Orca Exploration Inc. – December 31, 2009
Model/ Illustrative IFRS Financial Statements
Interim - First-time IFRS Adopters - Condensed Paragraph 6 of IAS 34 Interim Financial Reporting - In the interest of timeliness and cost considerations and to avoid repetition of information previously reported, an entity may be required to or may elect to provide less information at interim dates as compared with its annual financial statements. This Standard defines the minimum content of an interim financial report as including condensed financial statements and selected explanatory notes. The interim financial report is intended to provide an update on the latest complete set of annual financial statements. Accordingly, it focuses on new activities, events, and circumstances and does not duplicate information previously reported. Illustrative condensed interim financial statements – First-time adopters 2010 – based on IFRSs at September 30, 2010 – KPMG
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Interim - Existing IFRS Preparers - Condensed Paragraph 6 of IAS 34 Interim Financial Reporting - In the interest of timeliness and cost considerations and to avoid repetition of information previously reported, an entity may be required to or may elect to provide less information at interim dates as compared with its annual financial statements. This Standard defines the minimum content of an interim financial report as including condensed financial statements and selected explanatory notes. The interim financial report is intended to provide an update on the latest complete set of annual financial statements. Accordingly, it focuses on new activities, events, and circumstances and does not duplicate information previously reported.
Illustrative Condensed Interim Financial Statements – based on IFRSs at April 2010 – KPMG Illustrative interim financial information 2011 – PwC International Good Group (International) Limited International GAAP® Illustrative financial statements for the six months ended June 30, 2011 – based on IFRSs at March 31, 2011 – Ernst & Young Example Interim Consolidated Financial Statements 2010 - based on IFRSs at May 31, 2010 - Grant Thornton
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Annual - First-time IFRS Adopters IFRS Illustrative Financial Statements: Canadian First-time Adopters - December 31, 2011 - based on IFRSs at January 31, 2010 - KPMG
Illustrative financial statements: First-time adopters - International Financial Reporting Standards - February 2010 (KPMG) First-time adoption of IFRS - Example Consolidated Financial Statements 2009 - based on IFRSs at November 18, 2009 - Grant Thornton
Annual - Existing IFRS Preparers General International Financial Reporting Standards Model financial statements 2011 with early application (Deloltte) Good Group (International) Limited International GAAP Illustrative financial statements December 31, 2010 - based on IFRSs at August 31, 2010 – Ernst & Young Example Consolidated Financial Statements December 31, 2010 – based on IFRSs at November 30, 2010 - Grant Thornton Illustrative corporate consolidated financial statements 2010 – PwC Global IFRS Illustrative financial statements – General (2009) – KPMG IFRS model financial statements - International GAAP Holdings Limited 2010 – Deloitte Back to Top Banks Illustrative consolidated financial statements 2009: Banks – PwC Global Good Bank (International) Limited - December 31, 2010 – based on IFRSs at August 31, 2010 - Ernst & Young Illustrative financial statements – Banks (Jan 2010) – based on IFRSs at December 31, 2009 – KPMG Insurance Illustrative consolidated financial statements 2009: Insurance – PwC Global Good Insurance (International) Limited 2010 – based on IFRSs at June 30, 2010 – Ernst & Young
Back to Top Other – Private Equity and Investment Funds Illustrative financial statements: investment funds - International Financial Reporting Standards March 2010 (KPMG) Illustrative IFRS financial statements 2009 - Private equity – PwC Global Illustrative IFRS financial statements 2011 - Investment funds – PwC Good Investment Fund Limited - International GAAP® -Illustrative financial statements of a fund whose puttable shares are classed as financial liabilities 31 December 2010 – based on IFRSs at August 31, 2010 - Ernst & Young Good Investment Fund Limited International GAAP - Illustrative financial statements of a fund whose puttable shares are classed as equity instruments 31 December 2010 – based on IFRSs at August 31, 2010 - Ernst & Young Back to Top
Real Estate / Investment Property
Illustrative IFRS consolidated financial statements 2011: Investment property - based on IFRSs at January 1, 2011 - PwC Good Real Estate Group (International) Limited financial statements for the year ended 31 December 2011 Based on International Financial Reporting Standards in issue at 30 September 2011 – Ernst & Young
Mining
Good Mining (International) Limited - International GAAP Illustrative financial statements for the year ended 31 December 2010 – Based on IFRSs in issue at 31 August 2010 – Ernst & Young Back to Top Oil and Gas Good Petroleum (International) Limited financial statements for the year ended 31 December 2011 Based on International Financial Reporting Standards in issue at 30 September 2011 – Ernst & Young Construction International GAAP Illustrative financial statements for the year ended 31 December 2011 Based on International Financial Reporting Standards in issue at 30 September 2011 – Ernst & Young Back to Top |
