All rights reserved. The disclosures contained in these IFS are made based on a hypothetical entity and certain assumptions have been made about the applicability of the disclosures required by FRSs. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. (65) 6749 8061 The publication is designed to provide a brief overview of the Ind AS and highlights the key differences from the respective International Financial Reporting Standards (IFRS). Photo by Pixabay on Pexels.com Prominent accounting and auditing firms have recently published the latest versions of their 2020 illustrative financial statements along with guidance on COVID-19 related disclosures and accounting implications. Guides to financial statements Our Guides to financial statements are compliance focused and have two components: Illustrative disclosures that illustrate one possible format for financial statements based on a fictitious multinational corporation, and a companion Disclosure checklist. isca@isca.org.sg, © 2020 Institute of Singapore Chartered Accountants | All Rights Reserved, https://isca.org.sg/tkc/aa/qa/illustrative-financial-statements/, ISCA Members – A Trusted Mark of Excellence, What Chartered Accountants can do for Your Business, ISCA Members - Bringing Value to Businesses, Singapore Chartered Accountants Qualification, ISCA Financial Forensic Accounting Qualification, ISCA Infrastructure & Project Finance Qualification, ISCA-SUSS Business Analytics Certification Programme, International Education Standard Exposure Drafts & Comments Letters, Singapore Chartered Accountant Qualification, Application for Member-In-Retirement (MIR), Resignation, Removal or Suspension of Membership, CA (Singapore) who is a Public Accountant, Pathways to Other Professional Qualifications, ASEAN Chartered Professional Accountant (For ISCA members), Inaugural Young Professionals Symposium 2018, Singapore Accountancy and Audit Convention Series 2020, ISCA One Young #CharteredStar Competition 2019, ISCA Professional Business Accountant (PBA) Programme, Local Enterprise Association Development (LEAD) Programme, ISCA-SAP Productivity Scorecard & Benchmarking Study, Financial Accountants and Management Accountants (FA and MA), Auditors in Small-and-Medium-Sized Practices (SMP), Ethics Pronouncements and Implementation Guidances, Anti-Money Laundering and Countering the Financing of Terrorism, FATF Report on Detecting Terrorist Financing: Relevant Risk Indicators, Guidance on Submission of STRs related to Panama Papers, ISCA Financial Reporting Codification Framework, Public Consultation for Financial Reporting Guidances (FRGs), Small and Medium-sized Accounting Practices (SMP), Association of Taxation Technicians Singapore (ATTS) Specialist Certificate in Taxation, Financial Reporting Standards in Singapore (FRSs). While the IFS contain most of the usual disclosures typically found in the financial statements of entities whose activities include trading, the disclosures and help tips in this publication are not meant to be exhaustive. Standards issued, but not yet effective, as at 1 January 2019, have not The disclosure requirements of Ind AS are extensive. ISCA’s vision is to be a globally recognised professional accountancy body, bringing value to our members, the profession and wider community. Improving business performance, turning risk and compliance into opportunities, developing strategies and enhancing value are at the core of what we do for leading organizations. This publication contains an illustrative set of Ind AS standalone financial statements for XYZ Limited (the Company) as of and for the year ended 31st March 2020 prepared in accordance with Indian Accounting Standards (Ind AS) notified under the Companies (Indian Accounting This publication presents illustrative consolidated financial statements for a fictitious listed company, VALUE IFRS Plc. Ltd., prepared in accordance with: Financial Reporting Standards in Singapore (FRSs) Singapore Companies Act, Chapter 50 (CA) This publication presents illustrative consolidated financial statements of a fictitious listed company, Value Ind AS Limited. KPMG's ISG has updated its three-document series, Guides to annual financial statements, Illustrative disclosures and Disclosure checklist. This publication contains an illustrative set of consolidated financial statements for Good Group (International) Limited (the parent) and its subsidiaries (the Group) for the year-end 31 December 2019 that is prepared in accordance with International Financial Reporting Standards (IFRS). Archived recordings can be accessed anytime. impact which companies need to focus on while preparing their financial statements for the year ended 31 March 2020. Illustrative Financial Statements 2019   (Addendum to Illustrative Financial Statements 2019). The financial statements comply with Indian Accounting Standards (Ind AS) and Schedule III of the Companies Act, 2013 To thrive in today's marketplace, one must never stop learning. Partner, Dept. The accounts comply with IFRS as issued at 31 May 2020 and that apply to financial years commencing on or after 1 January 2020. These are illustrative IFRS financial statements of a listed company, prepared in accordance with International Financial Reporting Standards. The IFS are designed to capture a wide set of circumstances and transactions, and in enhancing the relevance of the IFS, all minimum disclosure requirements of FRSs are complied with, generally without considering materiality. These illustrative IFRS financial statements are intended to be used as a source of general technical reference, as they show suggested disclosures together with their sources. Many offer CPE credit. (HK/DPP) Illustrative Annual Financial Statements under Hong Kong Financial Reporting Standards KPMG 8 th Floor, Prince’s Building 10 Chater Road Central This publication should not be relied upon as a substitute for seeking professional advice concerning the appropriate accounting treatment for specific individual situations or ensuring compliance with the FRSs and/or CA. 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