Illustrative IFRS Consolidated Financial Statements for 2017 Year Ends
This publication can help you improve your quality of reporting. It presents illustrative consolidated financial statements for a fictitious listed company, VALUE IFRS Plc. The financial statements comply with IFRS as issued at 31 May 2017 and that apply to financial years commencing on or after 1 January 2017.
Published: 25 July, 2017
Description of Product
Why should you buy Illustrative IFRS Consolidated Financial Statements for 2017 Year Ends Illustrative IFRS consolidated financial statements for 2017 year ends can help you improve your quality of reporting. There is a general view that financial reports have become too complex and difficult to read and that financial reporting tends to focus more on compliance than communication. To demonstrate what companies could do to make their financial report more relevant, we have ?streamlined? the financial report to reflect some of the best practices that have been emerging globally over the past few years. In particular: - Information is organised to clearly tell the story of financial performance and make critical information more prominent and easier to find. - Additional information is included where it is important for an understanding of the performance of the company. For example, we have included a summary of significant transactions and events as the first note to the financial statements and a net debt reconciliation, even though neither of these disclosures are currently required. This latest edition includes: - A new appendix with illustrative disclosures for IFRS 16, 'Leases'. - Updated disclosures about expected impact from the adoption of IFRS 9 and IFRS 15 - now more specific as this is the last year before the mandatory adoption date. - Updated IFRS 9 appendix to align with the disclosures in the main body of the publication (now using same fact pattern). - Illustrative disclosure about changes in liabilities arising from financing activities (?debt reconciliation?) - mandatory for first time in 2017