Singapore Illustrative Financial Statements 2025

This publication illustrates best practices for financial statement reporting 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 2025.

SIFS 2025 illustrative disclosures reflect requirements relating to the newly effective accounting standards and amendments issued by Accounting Standard Council – i.e. those that are effective for companies with an annual reporting beginning on or after 1 January 2025.

Major key changes the SIFS 2025 include illustrative disclosures on:

• Supplier Finance Arrangements (Amendments to SFRS 1-7 and SFRS(I) 7); and
• International Tax Reform – Pillar Two Model Rules (Amendments to SFRS(I) 1-12).
• Illustrative disclosures on climate-related disclosures in the financial statements which cover considerations regarding Disclosures about Uncertainties in the Financial Statements. (Amendments to Illustrative Examples on SFRS(I) 7, SFRS(I) 18, SFRS(I) 1-1, SFRS(I) 1-8, SFRS(I) 1-36 and SFRS(I) 1-37).

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.