Example financial statements

The IFRS team at Grant Thornton International produces example financial statements to illustrate the application of the presentation and disclosure requirements of New Zealand equivalents of International Financial Reporting Standards (NZ IFRS) which are consistent with International Financial Reporting Standards (IFRS).

Illustrative Corporation Group: Example Interim Consolidated Financial Statements 2013

This Publication reflects the collective experience of Grant Thornton International’s IFRS team and member firm IFRS experts, and is intended to illustrate the ‘look and feel’ of IFRS interim financial statements and to provide a realistic example of their presentation. The Publication illustrates condensed interim consolidated financial statements for a six month accounting period beginning on 1 January 2013. It is based on the activities and results of Illustrative Corporation and its subsidiaries (together the Group) – a fictional consulting, service and retail entity that has been preparing IFRS financial statements for several years. The Group produces half-yearly interim financial reports in accordance with IAS 34 ‘Interim Financial Reporting’ (IAS 34) at 30 June 2013.

Example full year IFRS financial statements for the year ended 31 December 2012

This publication illustrates the application of the presentation and disclosure requirements of International Financial Reporting Standards (IFRS) of an entity that is not a first-time adopter of IFRS. It has been reviewed and updated to reflect changes in IFRS that are effective for the year ended 31 December 2012. The model financial statements also reflect the early-adoption of Presentation of Items of Other Comprehensive Income (Amendments to IAS 1 Presentation of Financial Statements) which is effective for annual periods beginning on or after 1 July 2012.

Example interim IFRS financial statements for the period ended 30 June 2012

This publication illustrates the interim consolidated financial statements of a company that has been preparing IFRS financial statements for several years and produces half-yearly interim reports in accordance with IAS 34 Interim Financial Reporting for the period 30 June 2012. The common approach of presenting condensed interim financial statements is reflected in this publication.

Example full year IFRS financial statements for the year ended 31 December 2012

This publication illustrates the application of the presentation and disclosure requirements of International Financial Reporting Standards (IFRS) of an entity that is not a first-time adopter of IFRS. It has been reviewed and updated to reflect changes in IFRS that are effective for the year ended 31 December 2012. The model financial statements also reflect the early-adoption of Presentation of Items of Other Comprehensive Income (Amendments to IAS 1 Presentation of Financial Statements) which is effective for annual periods beginning on or after 1 July 2012.

Example interim IFRS financial statements for the period ended 30 June 2012

This publication illustrates the interim consolidated financial statements of a company that has been preparing IFRS financial statements for several years and produces half-yearly interim reports in accordance with IAS 34 Interim Financial Reporting for the period 30 June 2012. The common approach of presenting condensed interim financial statements is reflected in this publication.

New Zealand IFRS model financial statements

Illustrative example of general purpose financial statements for the year ended 30 June 2011 prepared in accordance with the Financial Reporting Act 1993, the Companies Act 1993, applying New Zealand equivalents to International Financial Reporting Standards (NZ IFRS).

Not for Profit (NZ IFRS) model financial statements

Illustrative example of general purpose financial statements for the year ended 31 December 2011 prepared in accordance with the New Zealand Generally Accepted Accounting Practice (NZ GAAP) applying New Zealand equivalents to International Financial Reporting Standards (NZ IFRS) as set out for Public Benefit Entities. These financial statements can be used as a basis for preparing financial statements for any NFP entity with a balance date that falls between 1 January 2012 and 31 December 2012.

Example full year IFRS financial statements for the year ended 31 December 2011

This publication illustrates the application of the presentation and disclosure requirements of International Financial Reporting Standards (IFRS) of an entity that is not a first-time adopter of IFRS. It has been reviewed and updated to reflect changes in IFRS that are effective for the year ended 31 December 2011.

Example of first-time adoption of IFRS

The FTA Example Consolidated Financial Statements illustrates the application of the presentation and disclosure requirements of IFRS by an entity that is a first-time adopter of IFRS and publishes its first set of IFRS financial statements. The publication has been reviewed and updated to reflect changes in IFRS that are effective for the year ended 31 December 2010

Example of reporting under IFRS for SMEs

This publication sets out a realistic illustration of financial statements prepared in accordance with the IFRS for SMEs along with extensive guidance notes to explain the underlying requirements and alternative disclosure and presentation approaches available.

For more information on these example financial statements please click here to contact Mark Hucklesby, National Technical Director.

Australian example financial statements

Grant Thornton Australia has prepared a number of example financial statements for the year ended 30 June 2012. These have been tailored to suit a number of different scenarios: