Users and regulators often require companies to provide combined and/or carve-out financial statements because they can provide meaningful, relevant, and useful information. But preparing them can be challenging and require considerable judgement.

Combined and/or carve-out financial statements are not addressed specifically in IFRS® Standards, which has caused local practices to develop, often through discussions with regulators. This global diversity in practice means that management face unique challenges when preparing combined and/or carve-out financial statements and often need to apply significant judgement. 

This updated publication shares our practical experience and observations to help you when preparing combined and/or carve-out financial statements. It also highlights where there is consistency and diversity in applying IFRS Standards and the approaches we have seen in practice.

Our guide aims to help you answer some key questions on combined and/ or carve-out financial statements:

  • Why they are prepared?
  • What is included in them?
  • How is the information prepared?
  • What are the challenges when applying IFRS Standards?
  • What do they need to disclose?
  • What are the practical issues?

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