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      This publication illustrates best practices for financial statement disclosures that comply with the Singapore Companies Act, Singapore Financial Reporting Standards (International) [SFRS(I)] and the Singapore Exchange Limited Listing Manual for companies with a financial year ending 31 December 2022.

      Major changes since SIFS 2021 include disclosure examples for:

      • a demand deposit that is subject to restrictions on use;
      • a way to explain the potential impact of a new global minimum tax;
      • illustrative disclosures in the appendices on adoption of the amendments to SFRS(I) for onerous contract provisions; and
      • additional illustrative disclosures in the appendices relating to climate change in financial reporting.
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      Singapore Illustrative Financial Statements 2022

      Illustrative disclosures for 2022
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      While care has been taken in the preparation of this publication, reference to accounting standards and other authoritative material should be made, and specific advice sought, in respect of any particular transaction or specific circumstances. No responsibility for loss occasioned to any person acting or refraining from action as a result of any material in this publication can be accepted by KPMG LLP in Singapore or any member of KPMG International.

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