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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 Anooraq Resources Corporation – 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. Northern Dynasty Ltd. – 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. Platmin Limited - 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. Back to Top Interim - First-time Adopters - Complete Eastern Platinum Limited – 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. SouthGobi Energy Resources - 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.
Thomson Reuters – 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.
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Interim - First-time Adopters – Complete – US GAAP to IFRS Tethys Petroleum Limited
Interim - Existing IFRS Preparers - Condensed
Homburg Invest Inc. - 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.
Orca Exploration Inc. - 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.
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Annual - Existing IFRS Preparers Homburg Invest Inc. – December 31, 2008 Orca Exploration Inc. – December 31, 2008
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 interim financial statements – first-time adoption in 2005 – KPMG
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Interim - First-time IFRS 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. Illustrative Interim Consolidated Financial Statements 2005: For first-time adopters of IFRS – based on IFRSs at December 31, 2004 - PwC International
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 June 2009 – KPMG Illustrative Condensed Interim Financial Information for existing IFRS preparers June 30, 2009 – based on IFRSs at March 31, 2009 – PwC International Good Group (International) Ltd. - Illustrative interim condensed consolidated financial statements based - based on IFRSs at 31 March 2009 – Ernst & Young
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Annual - First-time IFRS Adopters First-time adoption of IFRS - Example Consolidated Financial Statements 31 December 2008 – based on IFRSs at December 17, 2008 - Grant Thornton
Annual - Existing IFRS Preparers
General Good Group (International) Limited International GAAP Illustrative financial statements December 31, 2009 - based on IFRSs at August 31, 2009 – Ernst & Young Granthor Corporation Group - Example Consolidated Financial Statements December 31, 2009 – based on IFRSs at November 18, 2009 - Grant Thornton Illustrative corporate consolidated financial statements 2009 – PwC Global IFRS Illustrative financial statements – General (2009) – KPMG IFRS model financial statements - International GAAP Holdings Limited 2009 – Deloitte Back to Top Banks Illustrative consolidated financial statements 2009: Banks – PwC Global Good Bank (International) Limited - December 31, 2008 – based on IFRSs at March 31, 2009 - Ernst & Young Illustrative financial statements – Banks (Dec 2008) – based on IFRSs at Jan 1, 2008 – KPMG Insurance Illustrative consolidated financial statements 2009: Insurance – PwC Global Delto Insurance Group plc December 31, 2008 – Insurance – based on IFRSs at September 2008 - Deloitte Back to Top Other – Private Equity and Investment Funds Illustrative consolidated financial statements 2008: Private equity – PwC Global IFRS Illustrative financial statements - Investment funds 2009 – PwC Good Investment Fund Limited - International GAAP® -Illustrative financial statements of a fund whose puttable shares are classed as financial liabilities 31 December 2009 – based on IFRSs at September 30, 2009 - Ernst & Young Good Investment Fund Limited International GAAP - Illustrative financial statements of a fund whose puttable shares are classed as equity instruments 31 December 2009 – based on IFRSs at September 30, 2009 - Ernst & Young Back to Top Real Estate / Investment Property Good Real Estate (International) Limited - Illustrative International GAAP financial statements – December 31, 2009 based on IFRSs at September 30, 2009 – Ernst & Young Illustrative consolidated financial statements 2009: Investment Property - based on IFRSs at January 1, 2009 - PwC Global Mining Good Mining (International) Limited - International GAAP Illustrative financial statements 31 December 2009 – based on IFRSs at March 31, 2009 – Ernst & Young Back to Top |