The standards applied in these illustrative financial statements are those that were on issue as at 30 September 2019 and effective for annual periods beginning on or after 1 January 2019. 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. Some or all of the services described herein may not be permissible for KPMG audit clients and their affiliates or related entities. 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. Our multi-disciplinary approach and deep, practical industry knowledge, skills and capabilities help our clients meet challenges and respond to opportunities. 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). 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. KPMG's ISG has updated its Guides to annual financial statements, Illustrative disclosures and Disclosure checklist. Ind AS Accounting and Disclosure Guide (April 2020) Our publication ‘Ind AS – Accounting and Disclosure Guide (the guide)’ is an extensive tool designed to assist companies in preparing financial statements in accordance with Annual reporting periods beginning on January 1, 2020, including forthcoming requirements for subsequent periods Key impacts Given the number and significance of foreign private issuers using IFRS Standards in the US capital markets as well as the number of US companies investing abroad, an understanding of the differences between IFRS Standards and US GAAP is important to preparers … (65) 6749 8061 The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. 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). This publication is an illustrative financial statements (IFS) of a Singapore-incorporated company, ABC Pte. This publication is intended as an illustrative guide rather than a definitive statement. 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. The Institute of Singapore Chartered Accountants (ISCA) is the national accountancy body of Singapore. KPMG does not provide legal advice. 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. Guide to annual financial statements: IFRS 9 – Illustrative disclosures for banks (March 2016) (KPMG IFRG Limited, 15 March, 2016 ) Guide to condensed interim financial statements Corporate strategy insights for your industry, Explore Corporate strategy insights for your industry, Financial Services Regulatory Insights Center, Explore Financial Services Regulatory Insights Center, Explore Risk, Regulatory and Compliance Insights, Explore Corporate Strategy and Mergers & Acquisitions, Customer service transformation & technology. it 31 December 2020, and the consolidated statements of profit or loss and other comprehensive income, changes in equity and cash flows for the year then ended, and notes to the consolidated statements; IBOR reform financial statement disclosures The International Accounting Standards Board has completed its project on the financial reporting impacts arising from the global interest rate benchmark reforms (“IBOR reform”) in 2020. ISCA’s vision is to be a globally recognised professional accountancy body, bringing value to our members, the profession and wider community. PwC 5 1(49),(51)(a) Value Ind AS Limited Illustrative financial statements – 31 March 2019 1(49) Financial statements Consolidated balance sheet 9 Consolidated statement of profit … Illustrative Financial Statements 2019 Preface About this publication: This publication is an illustrative financial statements (IFS) of a Singapore-incorporated company, ABC Pte. Ltd., prepared in accordance with: Financial Reporting Standards in Singapore (FRSs) Singapore Companies Act, Chapter 50 (CA) This publication is an illustrative financial statements (IFS) of a Singapore-incorporated company, ABC Pte. The 2020 edition of the KPMG annual illustrative financial statements for hedge funds and private equity funds is now available. Find out what KPMG can do for your business. Also, since the IFS are prepared based on a fictitious entity, assessing materiality is not possible in some circumstances. How convertible debt will be affected by ASU 2020-06 KPMG provides guidance on how ASU 2020-06 will affect convertible debt an issuer can settle in cash and/or shares. This publication provides certain illustrative disclosures on the impact of COVID-19 in the financial statements in Appendix 2. 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. 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. 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 (HK/DPP) Illustrative Annual Financial Statements under Hong Kong Financial Reporting Standards KPMG 8 th Floor, Prince’s Building 10 Chater Road Central 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. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. Standards issued, but not yet effective, as at 1 January 2019, have not The standards applied in these illustrative financial statements are those that were on issue as at 30 April 2020 and effective for annual periods beginning on or … of Professional Practice, KPMG US, Partner in Charge, US Germany Corridor, KPMG US. Reference should be made to the relevant standards and regulations for specific disclosure requirements. For more detail about the structure of the KPMG global organization please visit https://home.kpmg/governance. Tune in to KPMG Advisory podcasts to hear perspectives on today's business issues. Archived recordings can be accessed anytime. Illustrative disclosures Guide to condensed interim financial statements 要約期中財務諸表ガイド－開示例 IFRS® 基準書 home.kpmg/jp/ifrs 2020å¹´4月 目次 本冊子について 2 独立監査人の要約期中連結財務諸表に対する The The financial statements comply with International Financial Reporting Standards (IFRS) as issued at 31 May 2019 and that These are illustrative IFRS financial statements of a listed company, prepared in accordance with International Financial Reporting Standards. This set of IFS is a helpful enabler for entities preparing financial statements under FRSs, but its illustrative nature must be appreciated. Illustrative Financial Statements: First- time adopters (KPMG IFRG Limiited, 1 February, 2010 ) Pages: 1 2 3 4 Connect with us via webcast, podcast, or in person at industry events. impact which companies need to focus on while preparing their financial statements for the year ended 31 March 2020. All rights reserved. Join us for upcoming webcast events. PwC 2 Introduction This publication presents illustrative interim financial statements for a fictitious listed company, VALUE IFRS Plc, for the six months to 30 June 2020. ISCA is a Member of Chartered Accountants Worldwide, (65) 6749 8060 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). This publication presents illustrative consolidated financial statements of a fictitious listed company, Value Ind AS Limited. Illustrative Financial Statements 2019   (Addendum to Illustrative Financial Statements 2019). Many offer CPE credit. We also discuss the interaction between Ind AS 23 and Ind AS 115 in light of the IFRS Interpretation 1. Partner, Dept. 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. The financial statements comply with Indian Accounting Standards (Ind AS) and Schedule III of the Companies Act, 2013 This edition contains illustrative consolidated financial statements with year-end 31 December 2019. financial statements in accordance with Ind AS. Illustrative IFRS consolidated financial statements for 2020 year ends This publication presents PwC's illustrative consolidated financial statements for a fictitious listed company, containing illustrative disclosures for as many common scenarios as possible. Besides, the requirements of Schedule III and other provisions of the Companies Act, 2013, have also to be complied with in preparation and presentation of financial statements. The disclosure requirements of Ind AS are extensive. Guide to annual financial statements – Illustrative disclosures for investment funds (December 2017) (KPMG IFRG Limited , 13 December, 2017 ) Guide to annual financial statements – IFRS 15 Revenue supplement (October 2017) Ltd., prepared in accordance with: The IFS serve to provide an illustration of the annual financial statements of a company whose principal activities are those of trading. The accounts comply with IFRS as issued at 31 May 2020 and that apply to financial years commencing on or after 1 January 2020. Guide to annual financial statements Illustrative disclosures for investment funds (KPMG IFRG Limited, 1 December, 2014 ) IFRS Guide to annual financial statements: IFRS 12 supplement Download Singapore Illustrative Financial Statements 2020 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 … To thrive in today's marketplace, one must never stop learning. This publication presents illustrative consolidated financial statements for a fictitious listed company, VALUE IFRS Plc. The financial statements comply with International Financial The names of people and entities included as illustrations are fictitious. For many entities, the 2020 interim financial statements will be the first reporting period in which the impacts of the COVID-19 outbreak are reflected – i.e. After several years of major changes, there are only a few revisions to the financial reporting requirements that we had to illustrate in these example financial statements. Explore challenges and top-of-mind concerns of business leaders today. © 2020 KPMG LLP, a Delaware limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. Your essential guides to financial statements Our Guides to financial statements help you to prepare financial statements in accordance with IFRS Standards.They have three components: Illustrative disclosures, which illustrate one possible format for financial statements, based on a fictitious multinational corporation; Created on 06/07/2020 12:02:00 PM Last saved by Pang, Tony T.C. Here we offer our latest thinking and top-of-mind resources. These financial statements illustrate the presentation and disclosure requirements of IFRSs for the year ended December 31, 2020 by an entity that is not a first-time adopter of IFRSs. KPMG's ISG has updated its three-document series, Guides to annual financial statements, Illustrative disclosures and Disclosure checklist. Our illustrative model financial statements assist you to develop financial statements that are transparent, communicate your financial performance and position, and comply with financial reporting requirements. 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