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IFRS Illustrative Financial Statements 2009

IFRS Illustrative Financial Statements 2009



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Financial Statements
Financial Statements

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Illustrative financial statements
International Financial Reporting StandardsJuly 2009
© 2008 KPMG IFRG Limited, a UK company, limited by guarantee. All rights reserved.
About this publication
These illustrative nancial statements have been produced by the KPMG International Financial Reporting Group(part o KPMG IFRG Limited), and the views expressed herein are those o the KPMG International FinancialReporting Group.
The purpose o this publication is to assist you in preparing nancial statements in accordance with InternationalFinancial Reporting Standards (IFRSs). It illustrates one possible ormat or nancial statements, based on actitious multinational corporation; the corporation is not a rsttime adopter o IFRSs (see
Technical guide 
).This publication refects IFRSs in issue at 1 June 2009 that are required to be applied by an entity with an annualperiod beginning
1 January 2009 (“currently eective” requirements). IFRSs that are eective or annualperiods beginning
1 January 2009 (“orthcoming” requirements) have not been adopted early in preparingthese illustrative nancial statements, with the exception o revised IFRS 3
Business Combinations 
(2008) andamended IAS 27
Consolidated and Separate Financial Statements 
(2008).When preparing nancial statements in accordance with IFRSs, an entity should have regard to its local legaland regulatory requirements. This publication does not consider any requirements o a particular jurisdiction. Forexample, IFRSs do not require the presentation o separate nancial statements or the parent entity, and thispublication includes only consolidated nancial statements. However, in some jurisdictions parent entity nancialinormation also may be required.This publication does not illustrate IFRS 4
Insurance Contracts 
, IFRS 6
Exploration or and Evaluation o Mineral Resources 
, IAS 26
Accounting and Reporting by Retirement Benet Plans 
or IAS 34
Interim Financial Reporting 
.This publication illustrates only the nancial statements component o a nancial report. However, typically anancial report will include at least some additional commentary by management, either in accordance withlocal laws and regulations or at the election o the entity (see
Technical guide 
).IFRSs and their interpretation change over time. Accordingly, these illustrative nancial statements should notbe used as a substitute or reerring to the standards and interpretations themselves.
The illustrative nancial statements are contained on the oddnumbered pages o this publication. The evennumbered pages contain explanatory comments and notes on the disclosure requirements o IFRSs. Theillustrative examples, together with the explanatory notes, however, are not intended to be seen as a completeand exhaustive summary o all disclosure requirements that are applicable under IFRSs. For an overview o alldisclosure requirements that are applicable under IFRSs, see our publication
IFRS Disclosure Checklist 
.To the let o each item disclosed, a reerence to the relevant standard is provided; generally the reerencesrelate only to disclosure requirements. The illustrative nancial statements also include reerences to ourpublication
Insights into IFRS.

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