Your essential guides to financial statements 

Our Guides to financial statements help you to prepare financial statements in accordance with IFRS. They have two components:

• Illustrative disclosures, including supplements, that illustrate one possible format for financial statements prepared under IFRS, based on a fictitious multinational corporation; and

• Disclosure checklist, which identifies the disclosures that may be required based on currently effective standards and also includes disclosures for the forthcoming standards that are available for early adoption.

Impact of IFRS 16

IFRS 16 Leases replaces the requirements in IAS 17 Leases and related interpretations, and is applicable for the first time for entities with an annual reporting period beginning on or after 1 January 2019.

The interim financial statements will be the first opportunity to communicate the nature and effect of the change after the date of initial application, to update the information provided pre-transition.

Although there are no new disclosures introduced by IFRS 16 that are explicitly required in condensed interim financial statements, entities will have to apply significant judgement in determining how much additional disclosure is necessary to meet the objectives of IAS 34 – i.e. ensuring that the interim financial statements include all information that is relevant to understanding any significant changes since the last annual reporting date, and an entity’s financial position and performance during the interim period.

Our 2019 interim illustrative disclosures (PDF 2.03 MB) illustrate one possible way of doing this.

Explaining the changes

The quality and clarity of explanations of changes in accounting policies and their impacts are key. Investors and other stakeholders will be keenly interested in disclosures of changes in key judgements and estimates.

You can also follow 'KPMG IFRS' on LinkedIn and read our IFRS blog for the latest content and topical discussion on IFRS.

Download our guides 

Annual Illustrative disclosures	2018 edition (PDF 2.7 MB) | 2017 edition (PDF 3 MB) | 2016 edition (PDF 2.62 MB)
Supplements to annual Illustrative disclosures	IFRS 12 supplement (PDF 1.2 MB)
	IFRS 15 supplement (PDF 1.5 KB)
	IFRS 16 supplement (PDF 1.8 MB)
Annual Disclosure checklists	2018 edition (PDF 1.9 MB) | 2017 edition (PDF 2.1 MB) | 2016 edition (PDF 2.5 MB)
Interim Illustrative disclosures	2019 edition (PDF 2 MB) | 2018 edition (PDF 2 MB) | 2017 edition (PDF 258 KB)
Interim Disclosure checklists	2019 edition (PDF 1 MB) | 2018 edition (PDF 1 MB) | 2017 edition (PDF 1.45 MB)
Annual Illustrative disclosures for sectors	Banks (2018) (PDF 2.92 MB)
	Insurers (IFRS 17; 2018) (PDF 2.8 MB)
	Investment funds (2018) (PDF 1.78 MB)