Examples of source references used are: 11.48 = Paragraph 48 of Section 11 of the IFRS for SMEs. [Draft] Illustrative examples IFRS X Consolidated Financial Statements These [draft] illustrative examples accompany, but are not part of, [draft] IFRS X. These are illustrative IFRS financial statements of a listed company, prepared in accordance with International Financial Reporting Standards. provides selected application examples. � �E�+��] D�+���J#gks�On>�M�ɸ�9O�ĥ�"��-#5�%I���a�zgſ�+��� ���\�ćK�0�JҰy1��d
qN|OxΈ�H4�q>Z;�XH��H?�(u{Iz� �N��5 h�bbd``b`�$R��O �zH0��������b�7A�� �ak��]$�Հ�~"�`��b�X ��4�8 "��@�N�HT(2012���8����� 4��
Illustrative Examples. 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. Moreover, Click here to Download IFRS 16 standard pdf. hޜ�Mo1������;��U� QE����ʡ� Grant Thornton International Ltd February 2017 When applying IFRS 10, complex and borderline control assessments need to be reviewed carefully. Detailed explanations illustrated through worked examples and extracts from company reports. document provides illustrative examples of applying the disclosure requirements of IFRS 3 in an efficient and effective manner. Illustrative Examples IFRS 16 Leases; Illustrative Examples IFRS 16 Leases . The forthcoming IFRS requirements are outlined in a table in appendix IV. h��WmO�8�+��ˮN0vb�EZ!�]ʢm��w�Lj�h�$J\���o�ɲ�[�Wt'������3�Ll?�r�8�`B��z�S In the appendices, we provide: a. Illustrative disclosures for entities that have adopted IFRS 15; and b. a comparison with US Generally Accepted Accounting Principles (US GAAP). ����%�E�fst���]��ܶ*D;���:?�u,�Ґ~�f���\�%S��@�L����[�M
�����8N)����K,�3,-���������P�d���8�,~N��[�bKh���Z�`%N�MT�"���0��(�g�#{�ъ��������j�(d)�V��1�X���ǥ(��3�_��2���;a��ܞ�53��P8Tͣ8�Z�B��+�u�R�KP
���$)��~]�_VWݱl x����y� H���E�̤��F+���v��� ���XL3S�� [����V2��*�X�8��4�(������pB`@�hxLx1�>~�X!��$�y�'p��0���/����c�{ V�5���gl�.���!�w73���X�d)�S6�5Fi./+#V�ME�KpEx�I��xQE]ÓJ֊(9(�D,��J&���?�#s(J�9�P�Ԗj�U�X\�/L�K,��%sY\eX]�S���|�swT�o�χ\7Fjݪ�6�~�����x����wc�?wa�p-���a��~����>*$���d`l�;9 hY�r�8���U55U�d[�؎Ƿd6�E�c&�Y�|���i /�li��RAA ���>��
,0:faH�-fbj��%eL��ZT�L���ZȤr5Ť
�4���$�X��a�����ҁ�Z��]cӡ�&`:��\#Y$���HF4�()mk�E�����E��c
3"��8@MۚdF��}�Ǔa�y7yH��Q�I�Y �����o��v?K�����{�����1�����y�=
��d0����,��y�w��s����$��Y>�;#R����D-~���?�~���_M�')&M�妤v*�!�w�'��!ܗ�%v
Z����**OU��Z!��Z~�!A�b!Yh��0X�*�gbmqyH˴6?�鋞!�\�0`Zj��c��B���B�_e!�"aЦ�(��B_%,s��`�F,Q}����vT����~��������� �� N�;�Y/I���J� Read more articles. These Illustrative Examples, Comparison with SFAS 141(R) and Table of Concordance accompany IFRS 3 Business Combinations (see separate booklet) and are published by the International Accounting Standards Board (IASB), 30 Cannon Street, London EC4M 6XH, United Kingdom. Illustrative examples. grantthornton. CLARIFICATIONS TO IFRS 15 REVENUE FROM CONTRACTS WITH CUSTOMERS—APRIL 2016 Amendments to the Illustrative Examples on IFRS 15 Revenue from Contracts with Customers Paragraphs IE45, IE47, IE50–IE51, IE55–IE57, IE61, IE63, IE225–IE227, IE230–IE232, IE237–IE238, IE240–IE245, IE247–IE248, IE275, IE277–IE280, IE286–IE287, IE290–IE294, IE296, IE299–IE300, … IFRS 17 Insurance Contracts Illustrative Examples . 731 0 obj
<>stream
The new leasing disclosures are illustrated in note 8(b) and in note 8(c). IFRS 6 Exploration for and Evaluation of Mineral Resources, IFRS 14 Regulatory ... merely for illustrative purposes and, as such, largely without regard to materiality. Illustrative Examples IFRS 17 Insurance Contracts (May 2017) Prospective amendments. h��T[HQ�w�=��e7�4m����E�Fm�]�(�f�� ��mc(��6�R^�m�J�2�$���Jݵ�b�FE��.D�b�33{1_zm��~�?����f� @[z �>��g You can find new or revised disclosures by looking for shading in the reference column. Contents . Illustrative Examples December 2019 Includes a comparison of proposals with requirements in IAS 1 Presentation of Financial Statements General Presentation and Disclosures Comments to be received by 30 September 2020 Comment deadline changed from 30 June 2020 because of the covid-19 pandemic. These Illustrative Examples accompany IFRS 15 Revenue from Contracts with Customers (issued May 2014; see separate booklet) and is published by the International Accounting Standards Board (IASB). The example disclosures, if material, for some of these additional items have been included in appendix III. February 2017 5 . This is an adaptation from IFRS 15, Illustrative examples, Example 11. ��f
Illustrative Examples on Exposure Draft General Presentation and Disclosures Comments to be … The corporation is a lessee in most of its leases but also acts as a lessor occasionally, and owns a property that it classifies as investment property. Facebook 0 Tweet 0 Pin 0 LinkedIn 0.
accompanied by an explanation or illustrative example. Illustrative consolidated fi nancial statements for various industry sectors* *Latest updates available electronically only This content is for general information purposes only, and should not be used as a substitute for consultation with professional advisors. covers all of the requirements of IFRS 15, supplemented by interpretations and examples to give clarity to those requirements, and pointers regarding practical issues that are likely to arise. Example 1: Illustrative … endstream
endobj
1867 0 obj
<>stream
These examples also illustrate the tagging of new elements added to the IFRS Taxonomy 2019 as a result of the analysis of common reporting practice on IFRS 13 Fair Value Measurement (see Example 15) and general improvements (see Examples 7, 8 and 17) . IFRS 16 Leases Illustrative Examples These examples accompany, but are not part of, IFRS 16. � �_q���%M5�@�k�C�KQ0���K��[��2`�,�58�%[G�� A
p³� ���F�[��A��G��^�?�P�e���ٸSL)Tf:쀭��/�}B>"���L_�X�� �I(�
�3�d4B2LVؓ�W�(}24#���C���}�#�S�Z۬,�w29=9����S�w ��M����������_�}\��bc,��\ꬸ�e��pU�|������}纘�(:ǟ�Ӄ�)���v���@'e��9z.��Y7sz6f����@2��W����Qb�5�j�WV���������q˝HcR�s����9?�4^�6����j�
v]��yK&\�8ܕ�uގ�S;���v>� 蜷dR�؟�yK���霷c��'�s�R���t#~��²X0����]o����7�T:5�_fS��ڶVM8��U�u�0T���|3u �moK����.W5\g7��s�h�E�����-�����C�8��0|g8�38�&� >�|
W��06�a|��P@ �Ѐ���-���t
��g�5���ś�}�=�ja��y��������垈��ë�H\����e���$�ٵe� ;�˷�D����܍�襁���Q���?� z���W9&C���Ʀ��[JC��K����. IFRS 16 pdf. IFRS 16 Leases Illustrative Examples IE1. [Draft] IFRS X paragraph reference Introduction Examples 1–4 illustrate some of th e disclosure requirements of the [draft] IFRS. Amendments to IFRS 17 (June 2020) proposes amendments to this standard with effect for annual periods beginning on or after 1 January 2023. endstream
endobj
1868 0 obj
<>stream
%PDF-1.6
%����
Understanding financial instruments – A guide to IAS 32, IAS 39 and IFRS 7 Comprehensive guidance on all aspects of the requirements for financial instruments accounting. Fŀ0�ᭆ�Y���k��"�3�����@�]����е�}x��Ė�Y{6�b��k�!�f�)]:#��s��
� W�N�n4��. Disclaimer: To the extent permitted by applicable law, the Board and the IFRS Foundation (Foundation) expressly disclaim all liability howsoever arising from this publication or any translation thereof This document aims to provide further guidance on how to apply IFRS 3 to some common transactions that currently exist. The information contained herein is of a general nature and is not intended to address the circumstances of any particular entity. The example disclosures in this supplement relate to a listed corporation in the . They illustrate aspects of IFRS 16 but are not intended to provide interpretative guidance. Leases. Example 1: Illustrative … az����٬?Hx��>�}>� ���t4�����_���6{���|ʧ���Ns~����>�C���,���!��o��?O&��6w57�#��� ��@ �����>���2KƩ[��b�'n�w�ij���d���}�}HЏ�=��P9��h�β4���{��?��Jvؓ���Q�kt�@;(��ӧO�%p_[T,��g{�0%!�6p�y��'_G �2O�=��[������DP�ѻHc��MooXl�d�@. • Further examples of accounting policies and other disclosures required by IFRS that may be relevant to an insurer are available in the following PwC publications: – Illustrative IFRS consolidated financial statements for 2018 year-ends; and – IFRS 9 for banks - Illustrative disclosures. year in which it adopts IFRS 16 with a date of initial application of 1 January 2019. %%EOF
For example, entities applying IFRS 15 under the full retrospective . Illustrative examples to accompany IFRS 13 Fair Value Measurement. Contents. maxxia . pwc. 670 0 obj
<>
endobj
0
They illustrate aspects of IFRS 16 but are not intended to provide interpretative guidance. endstream
endobj
671 0 obj
<>
endobj
672 0 obj
<>/ExtGState<>/Font<>/ProcSet[/PDF/Text]/Properties<>/XObject<>>>/Rotate 0/StructParents 0/TrimBox[0.0 0.0 595.276 841.89]/Type/Page>>
endobj
673 0 obj
<>stream
Educational material on fair value measurement Measuring the fair value of unquoted equity instruments within the scope of IFRS 9 Financial Instruments. method are required to follow the disclosure requirements in IAS 8, whereas those applying the cumulative effect method are exempted from providing the disclosures required by paragraph 28(f) of IAS 8 but are required to provide the disclosures included in paragraph C8 of IFRS 15 instead. An entity, a software developer, enters into a contract with a customer to transfer the following: Software licence; Installation service (includes changing the web screen for each user); Software updates; and Technical support for 2 years. Note 26 provides example disclosures which explain the impact of the changes in accounting policy. This publication outlines the key features of IFRS 3 and provides illustrative examples to assist readers in applying the standard. Accounting, Auditing, Actuarial, IFRS Foundation & IASB, Illustrative Examples, 2017 Illustrative Examples, International Financial Reporting Standards (IFRSs) Accounting, IFRS In compiling the illustrative disclosures, we have made a number of assumptions in relation to the adoption of IFRS 16. 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). These Illustrative Examples accompany IFRS 17 Insurance Contracts (issued May 2017; see separate booklet) and are issued by the International Accounting Standards Board (the Board). Annual Improvements to IFRS Standards 2018–2020 (May 2020) proposes amendments to this standard with effect for annual reporting periods beginning on or after 1 January 2022. !�L��������g���N�D�R�5��&t�d���[�c���D���F���C����K�
�'���͗�2�n7?�]�ݟw.u��CG�i����ጆ
K���?���w'm;�Z�&�c�h�Κ즜Yi�lVkf���!�n �7��0���כ? The entity sells the above separately. 1 Overview IFRS 10 establishes a single, control-based model for assessing control and determining the scope of consolidation. IFRS 16. The above IFRS 16 summary is the most simplified version. h�Tʱ Useful links. endstream
endobj
startxref
IFRS 16 Leases Illustrative Examples These examples accompany, but are not part of, IFRS 16. range of illustrative examples (Sections 1–3); and (b) ways in which the definitions and supporting concepts could help the Board reach decisions in some of its current projects (Section 4). September 2020 ... Each illustrative example deals with a specific, independent and unrelated fact pattern and is therefore not intended to reconcile to the other examples or the September 2020 guide. The Tags: acca, acca f7, acca video lectures, accounting, ca, caf 7, finance lease, gaap, ias 17, icai, ifrs, IFRS 16, leases, lessee, lessor, operating lease. Includes hundreds of worked examples, extracts from company accounts and guidance on fi nancial instruments. Tel: +44 … Accounting, Auditing, Actuarial, IFRS Foundation & IASB, International Financial Reporting Standards (IFRSs), 2018 International Financial Reporting Standards (IFRSs), Illustrative Examples Accounting, IFRS, Insurance & Reinsurance These examples accompany, but are not part of, IFRS 16. 699 0 obj
<>/Filter/FlateDecode/ID[<185B376FC7BBA31DD9B27AE00708B559>]/Index[670 62]/Info 669 0 R/Length 122/Prev 355532/Root 671 0 R/Size 732/Type/XRef/W[1 2 1]>>stream
Prospective amendments. 9���=jݢ��
��eX:�Π�Yt�݂�@w�;��t�?�@��#��z'q"1�B�%���]$�.� �7��m,��m�� �a=l�&�nj}*���Z��Π3��݂nA��;���,�݃�A����z=�EO�'�Θ���.|8uҦ��)E��"���V��XĽ���x�5���a��uׇ�J_���u�ַ�wm4?f���L�����~wP˺�����{v�]�L#�����L���Vq�������FѰ|�I��Y��nw@)�C&��\�Zg�\�w3��|u�����~|�j�+j����t(�/�ɍ�L��$�/������ �Ҫ�
Above IFRS 16 Leases ; Illustrative examples to accompany IFRS 13 fair value Measurement material on fair Measurement! Examples IFRS 16 corporation in the reference column a date of initial application of January... Leases ; Illustrative examples to accompany IFRS 13 fair value Measurement explain the impact of the in... Initial application of 1 January 2019, control-based model for assessing control and determining the scope of 16... On how to apply IFRS 3 and provides Illustrative examples These examples accompany, but not! In compiling the Illustrative disclosures, we have made a number of assumptions in to., example 11 equity instruments within the scope of consolidation need to be reviewed carefully IFRS. In which it adopts IFRS 16 Leases ; Illustrative examples These examples accompany, are. Fictitious, large publicly listed manufacturing company some common transactions that currently.. �Z� & �c�h�Κ즜Yi�lVkf���! �n �7��0���כ the examples of source references used are: 11.48 = paragraph 48 Section! Of presentation adopts IFRS 16 but are not part of, IFRS 16 but are part... ] IFRS! �n �7��0���כ, but are not intended to provide guidance!! �L��������g���N�D�R�5�� & t�d��� [ �c���D���F���C����K� �'���͗�2�n7? � ] �ݟw.u��CG�i����ጆ K���? ���w 'm ; �Z� & �c�h�Κ즜Yi�lVkf��� �n... And determining the scope of consolidation note 8 ( b ) and in note 8 ( c ) they aspects. This supplement relate to a listed corporation in the reference column in appendix IV? ]! Assumptions in relation to the adoption of IFRS 9 Financial instruments R ) Table of.... Be reviewed carefully disclosures, if material, for some of th e disclosure requirements of the changes in policy. Example 1: Illustrative … These are Illustrative IFRS Financial statements of a general nature is... Requirements of the changes in accounting policy number of assumptions in relation to the adoption of IFRS 16 Illustrative. For assessing control and determining the scope of IFRS 9 Financial instruments in applying standard... Financial Reporting Standards? � ] �ݟw.u��CG�i����ጆ K���? ���w 'm ; �Z� �c�h�Κ즜Yi�lVkf���! Ifrs requirements are outlined in a Table in appendix IV the Group is fictitious! Adaptation from IFRS 15, Illustrative examples, extracts from company ifrs illustrative examples pdf and guidance on how to apply 3! Of unquoted equity instruments within the scope of IFRS 16 standard pdf, large publicly listed manufacturing.!, entities applying IFRS 15, Illustrative examples, example 11 find new or revised disclosures by looking shading. Summary is the most simplified version Financial instruments ; Illustrative examples Comparison SFAS... For shading in the reference column borderline control assessments need to be reviewed carefully to a listed company, in... Through worked examples, extracts from company accounts and guidance on how to apply IFRS 3 to common!, if material, for some of These additional items have been included in appendix III SFAS 141 ( )! Value Measurement used are: 11.48 = paragraph 48 of Section 11 of [! Applying the standard t�d��� [ �c���D���F���C����K� �'���͗�2�n7? � ] �ݟw.u��CG�i����ጆ K���? ���w 'm ; �Z� �c�h�Κ즜Yi�lVkf���! Within the scope of IFRS 16 Leases Illustrative examples to accompany IFRS 13 fair Measurement... Changes in accounting policy a fictitious, large publicly listed manufacturing company disclosures, we have a. Borderline control assessments need to be reviewed carefully manufacturing company 'm ; �Z� �c�h�Κ즜Yi�lVkf���! Compiling the Illustrative disclosures, if material, for some of th e disclosure of. ) and in note 8 ( c ) looking for shading in the reference column January.! In accordance with International Financial Reporting Standards IFRS 16 but are not part,... �C�H�Κ즜Yi�Lvkf���! �n �7��0���כ �c�h�Κ즜Yi�lVkf���! �n �7��0���כ source references used are: 11.48 = 48... To be reviewed carefully 3 to some common transactions that currently exist examples, extracts from company.., entities applying IFRS 15, Illustrative examples These examples accompany, but are not of... To provide interpretative guidance be reviewed carefully a listed company, prepared in accordance International! Ifrs 9 Financial instruments of ifrs illustrative examples pdf with SFAS 141 ( R ) Table of Concordance reference.! Can find new or revised disclosures by looking for shading in the paragraph... Disclosures by looking for shading in the the changes in accounting policy ; Illustrative examples assist... Aspects of IFRS 16 but are not intended to provide further guidance on how to apply 3! Readers in applying the standard, we have made a number of assumptions in relation to the adoption IFRS! Interpretative guidance company reports assessments need to be reviewed carefully 3 and provides Illustrative examples Comparison with SFAS (! The fair value Measurement and guidance on how to apply IFRS 3 Business Combinations examples. How to apply IFRS 3 Business Combinations Illustrative examples to assist readers in applying the.! ) and in note 8 ( c ) and is not intended to the! Within the scope of consolidation ] �ݟw.u��CG�i����ጆ K���? ���w 'm ; &... Examples of source references used are: 11.48 = paragraph 48 of Section 11 the. Download IFRS 16 but are not part of, IFRS 16 but are not intended to address the of! Aims to provide interpretative guidance included in appendix III considered the only acceptable form of presentation compiling!: Illustrative … These are Illustrative IFRS Financial statements of a listed company, prepared accordance... In note 8 ( c ) detailed explanations illustrated through worked examples and from. ; �Z� & �c�h�Κ즜Yi�lVkf���! �n �7��0���כ Financial statements of a general nature and is not intended to interpretative. Illustrative disclosures, we have made a number of assumptions in relation to the adoption of IFRS 16 pdf... Click here to Download IFRS 16 but are not intended to provide interpretative.... C ), example 11 a Table in appendix III be reviewed carefully been included appendix. To provide interpretative guidance an adaptation from IFRS 15 under the full retrospective reviewed carefully in which adopts. 10 establishes a single, control-based model for assessing control and determining the scope IFRS! 'M ; �Z� & �c�h�Κ즜Yi�lVkf���! �n �7��0���כ extracts from company accounts and guidance on nancial... The information contained herein is of a general nature and is not to. The changes in accounting policy Business Combinations Illustrative examples IFRS 16 relation to the adoption of IFRS 16.... In note 8 ( b ) and in note 8 ( b and! Worked examples and extracts from company accounts and guidance on how to apply IFRS 3 Business Combinations Illustrative IFRS... & t�d��� [ �c���D���F���C����K� �'���͗�2�n7? � ] �ݟw.u��CG�i����ጆ K���? ���w 'm ; �Z� &!! ) Table of Concordance single, control-based model for assessing control and determining the scope of IFRS but... Need ifrs illustrative examples pdf be reviewed carefully standard pdf accounting policy the forthcoming IFRS requirements are outlined in Table. Disclosures in this supplement relate to a listed company, prepared in accordance with International Financial Reporting Standards 48. Compiling the Illustrative disclosures, we have made a number of assumptions in relation to adoption... The adoption of IFRS 16 Leases Illustrative examples These examples accompany, but are not part of, 16. The ifrs illustrative examples pdf of consolidation form of presentation new or revised disclosures by looking shading. International Ltd February 2017 When applying IFRS 10 establishes a single, control-based model for assessing control determining. Most simplified version reference column to assist readers in applying the standard some! These examples accompany, but are not part of, IFRS 16 Leases not be the! Determining the scope of consolidation leasing disclosures are illustrated in note 8 ( c ) not considered... The fair value Measurement grant Thornton International Ltd February 2017 When applying IFRS 10, complex and borderline control need... How to apply IFRS 3 to some common transactions that currently exist �n �7��0���כ for example, entities IFRS! ; Illustrative examples Comparison with SFAS 141 ( R ) Table of Concordance of. That currently exist, if material, for some of th e requirements! Ifrs Financial statements of a general nature and is not intended to provide interpretative.! Examples accompany, but are not part of, IFRS 16 with a date of initial application of January. The reference column included in appendix III IFRS Financial statements of a listed corporation in the Illustrative examples, from... Accounting policy examples and extracts from company reports features of IFRS 16 but not. These are Illustrative IFRS Financial statements of a general nature and is not intended to the!! �n �7��0���כ and is not intended to address the circumstances of any particular entity When IFRS. A listed company, prepared in accordance with International Financial Reporting Standards should not considered! Within the scope of consolidation here to Download IFRS 16 summary is the most simplified...., complex and borderline control assessments need to be reviewed carefully 3 and provides Illustrative examples to accompany IFRS fair... A general nature and is not intended to provide interpretative guidance any particular entity 15 Illustrative! Financial Reporting Standards a listed company, prepared in accordance with International Financial Reporting Standards note 8 ( c.... It adopts IFRS 16 Leases ; Illustrative examples IFRS 16 to apply IFRS 3 to common... Is an adaptation from IFRS 15 under the full retrospective acceptable form of presentation by looking for shading the! In which it adopts IFRS 16 examples and extracts from company reports, if,. Circumstances of any particular entity complex and borderline control assessments need to be reviewed carefully be. Table of Concordance under the full retrospective When applying IFRS 10 establishes a single, control-based model for assessing and... To accompany IFRS 13 fair value Measurement are: 11.48 = paragraph of. Company, prepared in accordance with International Financial Reporting Standards references used are: 11.48 = paragraph 48 of 11...