Geopolitical tensions, climate change and the ongoing Covid 19 pandemic are creating economic uncertainties on a scale rarely seen before. This poses enormous challenges for corporate financial reporting, as the impact of external events and developments must be conscientiously assessed and corresponding company-specific disclosures made in the consolidated financial statements for the 2022 financial year.
The requirements for consolidated financial statements are complex. Numerous regulations, the IFRS® Accounting Standards, must be complied with; including new regulations for the financial year. With our exemplary IFRS model consolidated financial statements, we not only support companies in complying with all regulations when preparing their financial statements, but also provide recommendations for additional, decision-useful information and present alternative courses of action.
Download the IFRS model consolidated financial statements 2022 here free of charge.
In this year's model financial statements, we address the following current issues, among others:
- How might the future international tax reform to the global minimum tax rate of 15 per cent affect financial reporting?
- What impact do restrictions on use arising from a contract with a third party have on demand deposits recognised in the balance sheet?
- How do uncertain times affect financial reporting using the example of a flood disaster?
- How should onerous contracts be measured under IAS 37 in the future? Which costs for the fulfilment of the contract are to be included in the assessment of whether a contract is onerous?
Ingo Rahe
Director, Audit, DPP
KPMG AG Wirtschaftsprüfungsgesellschaft
Answers to these and other relevant questions can be found in the KPMG IFRS model consolidated financial statements 2022.
With our IFRS Model Consolidated Financial Statements 2022, we want to support you as usual in preparing clear and comprehensible IFRS consolidated financial statements that provide decision-useful information. Numerous alternative courses of action presented and recommendations that go beyond the minimum requirements will help you find a tailored response to your current issues resulting from new regulations and from an economically and geopolitically challenging environment.
Every year, we prepare for you possible IFRS consolidated financial statements of a fictitious, globally active group of companies that is neither active in the financial services nor in the insurance industry. The IFRS model consolidated financial statements 2022 contain numerous notes on presentation options and further information on questions of interpretation. It presents the IFRS® Accounting Standards as they are to be applied in financial years beginning on or after 1 January 2022.
