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      Your essential guides to financial statements

      Our Guides to financial statements help you to prepare financial statements in accordance with IFRS Accounting Standards.

      Key considerations when preparing your financial statements

      What's new in 2026?

      Key considerations

      The following considerations are important when preparing financial statements.

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      Investors, regulators and other report users rely on the financial statements to provide decision-useful information. They look for clarity in the annual (or interim) report and expect the financial and non-financial information to be connected. This is especially important when reporting on issues that create volatility for the company’s prospects – e.g. climate-related matters and other uncertainties.

      What's new in 2026?

      We’ve made both the annual and the interim guides to financial statements available at the same time this year. They reflect IFRS Accounting Standards in issue at 20 March 2026 that are required to be applied by a company with an annual reporting period beginning on 1 January 2026.

      These guides are based on the currently effective requirements of IAS 1 Presentation of Financial Statements. Our future guides will reflect the requirements of IFRS 18 Presentation and Disclosure in Financial Statements, which is effective from 1 January 2027. 

      Annual financial statements – 2026 reporting periods

      The 2026 Illustrative disclosures illustrate the financial reporting impacts of the following newly effective amendments.

      Amendment

      Issues covered

      Classification and Measurement of Financial Instruments – Amendments to IFRS 9 and IFRS 7
      • Clarify the timing of recognition and derecognition of financial assets and financial liabilities, including an exception relating to the derecognition of financial liabilities that are settled using an electronic payment system.
      • Introduce new disclosures on:
        • investments in equity instruments that are designated at fair value through other comprehensive income; and
        • financial instruments not measured at fair value through profit or loss with certain contingent features1.

      Contracts Referencing Nature-dependent Electricity – Amendments to IFRS 9 and IFRS 7
      • Address common challenges in accounting for renewable power purchase agreements (PPAs).
      • Introduce new disclosures for certain PPAs that meet the own-use exemption and are not recognised in the statement of financial position2.
      Interim financial statements – 2026 reporting periods

      The 2026 Interim illustrative disclosures also reflect the requirements of the newly effective amendments. These amendments do not introduce any new disclosures that are explicitly required in the condensed interim financial statements. However, companies need to consider providing additional disclosures if they judge them to be material to understanding their financial position and performance in the interim reporting period.

      In addition, our article Interim financial statements - Assessing the impact provides guidance for companies facing financial reporting challenges during uncertain times.

      1 The amendments also provide additional guidance on classification of financial assets, including those with contingent features. These amendments are not illustrated in our illustrative disclosures.

      2 The amendments also include guidance on hedge accounting requirements for companies that hedge their purchases or sales of electricity using PPAs. These amendments are not illustrated in our illustrative disclosures.

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