Once again this year, we are providing you with our IFRS model consolidated financial statements (MKA) 2024.
Our 2024 IFRS model consolidated financial statements are exemplary financial statements of a fictitious global group that does not operate in the financial services or insurance sectors. The financial statements take into account the requirements of IFRS® Accounting Standards for financial years beginning on or after 1 January 2024. MKA 2024 also provides you with numerous notes on presentation options and further information on interpretation issues.
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IFRS model consolidated financial statements 2024
(in German only)
Ingo Rahe
Director, Audit, DPP
KPMG AG Wirtschaftsprüfungsgesellschaft
Clear and consistent reporting; focus on climate-related aspects
Furthermore, geopolitical developments, natural disasters, climate-related effects and inflationary pressure are creating a high degree of economic uncertainty. Companies are faced with a multitude of problems and risks, which also make financial reporting more challenging. Clear and consistent reporting is all the more important in order to overcome these hurdles.
MKA 2024 again places a special focus on climate-related aspects. Investors and regulators want to understand how climate risks and opportunities have impacted and will impact a company's financial position and financial performance. The model financial statements contain disclosures on climate-related risks and aspects using the example of biological assets, property, plant and equipment, impairment tests and emissions programmes.
We address the following changes in the 2024 IFRS model consolidated financial statements:
- Correctly categorise debt as current or non-current and report on covenants: What changes need to be considered?
- Amendments to IAS 7 and IFRS 7 on supplier financing arrangements: What are the new disclosure requirements?
- What impact will the IFRS IC agenda decision Disclosure of Revenues and Expenses for Reportable Segments (IFRS 8) have on segment reporting?
- How could the reform of the international tax system for global minimum taxation affect the financial statements?
With our current IFRS model consolidated financial statements, we will support you again this year in preparing consolidated financial statements that not only comply with the currently applicable IFRS requirements, but also - together with management reporting and, if applicable, sustainability reporting - provide a consistent picture of your company's position. MKA 2024 pays particular attention to the new requirements arising from the amendments to IAS 1 and IAS 7 as well as climate-related aspects and the effects of global minimum taxation.
The requirements of IFRS 18 Presentation and Disclosures in Financial Statements (effective for financial years beginning on or after 1 January 2027) are not included in this year's IFRS model consolidated financial statements. In our June 2024 Talkbook, you can find out about the main changes (e.g. in the presentation of the income statement and the new disclosures in the notes on management-defined performance measures (MPMs)).
