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.. Here’s a list of a few of these illustrative financial statements and COVID-19 related guidance from some of the best sources on the internet: HKFRS / IFRS UPDATE 2020/08 . HKFRS / IFRS UPDATE 2020/08 . Illustrative Financial Statements 2014. This publication presents PwC's illustrative consolidated financial statements for a fictitious listed company, containing illustrative disclosures for as many common scenarios as possible. This publication is based on the PwC global illustrative financial statements entitled “Value IFRS Plc Illustrative IFRS consolidated financial statements December 2019”1. These illustrative financial statements incorporate illustrative disclosures in relation to NZ IFRS 16 Leases and NZ IFRIC 23 Uncertainty over Income Tax Treatments, both of which are effective for annual periods beginning on/after 1 January 2019. Illustrative Financial Statements 2014. Important notices: This publication is intended as an illustrative guide rather than a definitive statement. The accounts comply with IFRS as issued at 31 May 2020 and that apply to financial years commencing on or after 1 January 2020. Not-For-Profit Illustrative Financial Statements for 31 December 2019 now available. The financial statements comply with IFRS as issued at 31 January 2020 and that apply to annual reporting periods commencing on or after 1 January 2020, including IAS 34, 'Interim Financial Reporting'. This publication presents PwC's illustrative consolidated financial statements for a fictitious listed company, containing illustrative disclosures for as many common scenarios as possible. The financial statements comply with Hong Kong Financial Reporting Standards (HKFRS) as issued at 31 August 2020 and that apply to financial years commencing on or after 1 January 20 20. Example HKFRS financial statements that may be required for listed companies. Instead, we have included illustrative disclosures for as many common scenarios as possible. Deloitte Accounting Focus (in Simplified Chinese) This publication presents illustrative interim financial statements for a fictitious listed company, VALUE IFRS Plc, for the six months to 30 June 2020. Accounting Alert March 2020. These illustrative IFRS financial statements are intended to be used as a source of general technical reference, as … Revised September 2018August 2020 Effective for annual periods beginning on or after 1 January 2005 . The publication is prepared in accordance with the requirements as set out in: This publication presents illustrative interim financial statements for a fictitious listed company, VALUE IFRS Plc, for the six months to 30 June 2020. These are illustrative IFRS financial statements of a listed company, prepared in accordance with International Financial Reporting Standards. PwC financial reporting publications PwC is committed to helping businesses improve the quality of their financial reporting. Illustrative consolidated financial statements of Good Group (International) Limited and subsidiaries for the year ended 31 December 2020. Unformatted text preview: VALUE IFRS Plc Illustrative IFRS consolidated financial statements December 2020 This publication presents the sample annual financial reports of a fictional listed company, VALUE IFRS Plc.It illustrates the financial reporting requirements that would apply to such a company under International Financial Reporting Standards as issued at 31 May 2020. Preface to Hong Kong Financial Reporting Standards and the Conceptual Framework for Financial Reporting. Instead, we have included illustrative disclosures for as many common scenarios as possible. In view of the resurgence of locally transmitted COVID-19 cases, the Hong Kong Institute of Certified Public Accountants announced, from Wednesday, 2 December 2020 onwards, to close the library facilities, whilst counter service hours remain normal. ... Illustrative Annual Financial Statements. Illustrative consolidated financial statements of Good Group (International) Limited and subsidiaries for the year ended 31 December 2020. VALUE HKFRS Limited and its subsidiaries manufacture goods, provides IT consulting services and hold investment property. PwC's Manuals of accounting provide practical guidance on financial reporting. Ltd. (the Company) for the financial year ended 31 December 2019. Illustrative financial reports and presentation and disclosure checklists are regularly published by public accounting firms and are freely available from the websites shown below. The following are illustrative financial statements from the respective public accounting firms, which are prepared based on IFRS, and the related disclosure checklists to be used in the preparation of financial statements in accordance with IFRS. 622), The Listing Rules issued by the Stock Exchange of Hong Kong Limited, HKFRS issued by the Hong Kong Institute of Certified Public Accountants. These financial statements illustrate the presentation and disclosure requirements of IFRSs for the year ended 31 December 2019 by an entity that is not a first-time adopter of IFRSs. The financial statements comply with International Financial Reporting Standards (IFRS) as issued at 30 April 2015 and that apply to financial years commencing on or after 1 January 2015. They illustrate the impact of the application of IFRSs that are mandatorily effective for … PwC's Manuals of accounting provide practical guidance on financial reporting. Illustrative interim financial statements for a fictitious listed company, VALUE IFRS Plc, for the six months to 30 June 2020. Important notices: This publication is intended as an illustrative guide rather than a definitive statement. 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. The 2020 edition of PwC’s Illustrative Annual Report entitled “Navigating the new normal with trust and confidence” will serve as an excellent resource to assist you in the preparation of your company’s annual report, providing stakeholders with relevant and reliable information to create and sustain trust in … an illustrative annual report for the year ended 31 December 2020 issued by a fictitious Main Board listed company, HK Listco Ltd (“HK Listco”), which includes: - a directors’ report, - an independent auditor’s report to the shareholders of the company, - annual financial statements prepared in accordance with Hong Kong Financial Reporting EFFECTIVE DATE Annual reporting periods beginning on or after 1 June 2020. STATUS Final. Opinion of the directors In the opinion of the directors, (a)CA Sch 12(1)(a) the financial statements of the Company are drawn up so as to give a true and fair view of the financial position of the Company as at 31 December 2019 and the financial These illustrative financial statements are prepared in accordance with IFRS issued as at 30 June 2020 and effective for annual periods beginning on 1 January 2020. These model financial statements (in conjunction with the Australian financial reporting guide) contain complete illustrative disclosures for companies preparing general purpose financial statements in full compliance with Australian Accounting Standards as at 30 June 2020. © 2003 - Wed Dec 23 17:22:41 UTC 2020 PwC. Updated arrangement for library facilities and counter services. Illustrative Financial Statements 2015. They illustrate the impact of the application of IFRSs that are mandatorily effective for … Illustrative financial reports and presentation and disclosure checklists are regularly published by public accounting firms and are freely available from the websites shown below. We use cookies to give you the best experience of our website. We have limited the changes made to the global publication to those relating to NZ IFRS RDR … A guide for companies listed on the Main Board of the Stock Exchange of Hong Kong Limited. The Institute has more than 42,000 members and more than 18,000 registered students. Illustrative Financial Statements 2017. ACCOUNTING IMP ACT Significant optional operational This publication presents illustrative interim financial statements for a fictitious listed company, VALUE IFRS Plc, for the six months to 30 June 2020. Ind AS publications In brief and Straight away In depth and Practical guide to IFRS Illustrative IFRS financial statements and disclosure checklist Ind AS pocket guide Illustrative Financial Statements 2016. Earlier application is permitted, including in IFRS financial statements not yet authorised for issue at 28 May 2020, and HKFRS financial statements at 4 June 2020. Annual financial reporting 2020 Pages Directors' report 12 Auditor’s independence declaration 14 Financial statements 21 Statement of comprehensive income 24 Balance sheet 31 Statement of changes in equity 35 Statement of cash flows 38 Notes to the financial statements 41 1. The financial statements comply with IFRS as issued at 31 January 2020 and that apply to annual reporting periods commencing on or after 1 January 2020, including IAS 34, 'Interim Financial Reporting'. Concentrating on the practical, the books provide reliable, up-to-date guidance on financial reporting and legal requirements along with hundreds of practical worked examples. This first edition of Good Group (Australian SDS) Pty Ltd provides illustrative financial statements prepared in accordance with AASB 1060 General Purpose Financial Statements – Simplified Disclosures for For-Profit and Not-for-Profit Tier 2 Entities issued in March 2020. 09/09/20 PBE Standards Disclosure Checklist 2020 These financial statements illustrate the presentation and disclosure requirements of IFRSs for the year ended 31 December 2019 by an entity that is not a first-time adopter of IFRSs. Accounting, Auditing, Actuarial, PwC, Commentaries, 2020 Commentaries, Illustrative accounts and checklists Accounting, IFRS Illustrative condensed interim financial statements 2020 - Value IFRS Plc | Better Regulation Financial Reporting Standard for Private Entities (HKFRS for Private Entities). Published on: Oct 14, 2020 The model financial statements of International GAAP Holdings Limited for the year ended December 31, 2020 are intended to illustrate the presentation and disclosure requirements of IFRS Standards without the use of any actual numbers. This site uses cookies to provide you with a more responsive and personalised service. The financial statements comply with International Financial Reporting Standards (IFRS) as issued at 30 April 2015 and that apply to financial years commencing on or after 1 January 2015. Illustrative HKFRS consolidated financial statements, COVID-19: Responding to the economic and business impacts, The Hong Kong Companies Ordinance (Cap. General information 43 2. The financial statements comply with Australian Accounting Standards as issued at 31 January 2020 and that apply to reporting periods commencing on or after 1 January 2020, including AASB 134 Interim Financial Reporting. Accounting, Auditing, Actuarial, PwC, Commentaries, 2020 Commentaries, Illustrative accounts and checklists Accounting, IFRS Illustrative condensed interim financial statements 2020 - Value IFRS Plc | Better Regulation PwC | Illustrative annual report and financial statements Abbreviations FRS 102:34.27 = Financial Reporting Standard 102 (March 2018), ‘The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland’, paragraph number Reporting Illustrative Financial Reports and Disclosure Checklists. Annual financial reporting 2020 Pages Directors' report 12 Auditor’s independence declaration 14 Financial statements 21 Statement of comprehensive income 24 Balance sheet 31 Statement of changes in equity 35 Statement of cash flows 38 Notes to the financial statements 41 1. Concentrating on the practical, the books provide reliable, up-to-date guidance on financial reporting and legal requirements along with hundreds of practical worked examples. To learn more visit our, Illustrative Financial Reports and Disclosure Checklists, Publications issued by other organisations, HKFRS for Private Entities Information Centre, References on 2010 version of HKFRS for Private Entities, Example Reports for Auditors and Companies, Mainland China and international connections, Registers of Public Interest Entity (PIE) Auditors, Become a QP Marker and/or QP Workshop Facilitator, Becoming a CPA through the Qualification Programme, Transitional arrangement for existing students, Information Paper on Enhancements to the CPA Qualification Programme, Online Information Portal for QP Examinations, Continuing professional development requirements, Continuing professional development programmes, Specialist Qualifications and Designations, 2020 Certified Internal Auditor (CIA) Challenge Exam, How we set standards & contribute to international standards, Hong Kong Institute of Certified Public Accountants Elects President and Council, HKICPA 20th Anniversary CG Awards reflect the changing times and the impact of COVID-19 on corporate disclosures, HKICPA urges boards to commit to good disclosure and ensure robust risk management in times of uncertainty, HKICPA publishes advisory for business and individuals to manage financial distress, The Hong Kong Institute of Certified Public Accountants welcomes 2020-21 Budget relief measures to mitigate negative impact of new challenges, HKICPA calls for a tax review and more support for citizens and SMEs amid the economic downturn, 香港會計師公會就證監會及聯交所發放之「有關在嚴重新型傳染性病原體呼吸系統病的旅遊限制下刊發業績公告的聯合聲明」回應, Clarification on the participation of HKICPA in electoral activities in Taiwan, HKICPA builds a future-ready profession and a sustainable talent pool with the new Qualification Programme, HKICPA "Rich Kid, Poor Kid" programme awarded "Financial Education Champion" two years in a row, HKICPA Best Corporate Governance Awards, sees organizations stepping up efforts in sustainability and social responsibility, HKICPA survey shows non-traditional accounting talents are in-demand amidst changing times, HKICPA and CIMA collaborate to open up opportunities for accounting professionals, HKICPA and FRC sign a Statement of Protocol on arrangement for the oversight of PIE auditors, HKICPA’s Best Corporate Governance Awards celebrating their 20th year – now open for entries, The Hong Kong Institute of Certified Public Accountants Appoints New Chief Executive and Registrar, HKICPA finds 2019-2020 Budget reasonable amid challenges, HKICPA calls for tax measures to enhance competitiveness amid challenging outlook, HKICPA applauds outstanding Corporate Governance performers, calls for stronger board accountability to promote investor confidence, HKICPA "Rich Kid, Poor Kid" programme awarded "2019 Financial Education Champion", HKICPA Best Corporate Governance Awards open for entry, HKICPA survey: Accounting opens doors to rewarding and varied career paths for young professionals, HKICPA makes corporate governance recommendations, advocating for a strengthened capital market, HKICPA Statement on Extraordinary General Meeting, HKICPA supportive of broad direction of budget – but questions specific measures and effectiveness of existing funds to drive change, HKICPA Approves New Accounting Standard for Insurance Contracts, HKICPA urges Government to use budget surplus to nurture innovation and invest in community well-being, Financial Reporting Council (Amendment) Bill 2018 Media Statement by HKICPA, Hong Kong Institute of Certified Public Accountants Elects 45th President and Council, HKICPA lauds corporate governance high performers and urges small caps to leverage CG to support long-term growth, HKICPA Welcomes the New Government’s Bold Taxation Changes Announced in First Policy Address, HKICPA makes a difference with homegrown CSR programmes, Hong Kong Institute of CPAs submits comments on capital market enhancements, China's start-ups – stepping out of Silicon Valley's shadow, Best Corporate Governance Awards 2017 invites entries, Institute's membership survey reflects a rewarding profession, A Plus May 2017 issue – Interview with CLP Holdings CEO, Robotics is changing the business of tomorrow, Expectations of the accountancy profession for the next Chief Executive of HKSAR government, HKICPA to host Chief Executive election forum, A cautious maiden budget overall from the new financial secretary, but Institute welcomes implementation of its long-advocated initiative to set up tax policy unit, Hong Kong Institute of CPAs’ forward-looking budget proposals focus on enhancing the tax regime and keeping Hong Kong wealthy and healthy, New Qualification Programme to groom future talent, Government relief measures: Useful information for accountants. 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 Hong Kong Institute of Certified Public Accountants (the Institute) is the only body authorized by law to register and grant practising certificates to certified public accountants in Hong Kong. PwC | Illustrative annual report and financial statements Abbreviations FRS 102:34.27 = Financial Reporting Standard 102 (March 2018), ‘The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland’, paragraph number General information 43 2. By continuing to browse the site, you agree to the use of cookies for analytics and personalised contents. Accounting Alert March 2020. Illustrative Financial Statements 2017. Earlier application is permitted, including in IFRS financial statements not yet authorised for issue at 28 May 2020, and HKFRS financial statements at 4 June 2020. We also discuss the interaction between Ind AS 23 and Ind AS 115 in light of the IFRS Interpretation Committee’s agenda decision on capitalisation of borrowing costs in relation to the construction of a residential multi-unit real Photo by Pixabay on Pexels.com. All rights reserved. 2.3 Keeping the books and preparation of the financial statements 35 2.4 Filing of the annual report 36 2.5 Formats of financial statements 38 2.6 Notes to the financial statements 43 3. impact which companies need to focus on while preparing their financial statements for the year ended 31 March 2020. Hong Kong Small and Medium-sized Entity Financial Reporting Standard (SME-FRS) [English and Chinese versions] 2. We also discuss the interaction between Ind AS 23 and Ind AS 115 in light of the IFRS Interpretation Committee’s agenda decision on capitalisation of borrowing costs in relation to the construction of a residential multi-unit real Summary of significant accounting policies 28 2. The Institute accepts no responsibility or liability for any of the material contained in these illustrative reports and checklists, nor any other information on the websites below. These illustrative financial statements incorporate illustrative disclosures in relation to NZ IFRS 16 Leases and NZ IFRIC 23 Uncertainty over Income Tax Treatments, both of which are effective for annual periods beginning on/after 1 January 2019. Example HKFRS financial statements that may be required for listed companies. Please see www.pwc.com/structure for further details. 09/09/20 PBE Standards Disclosure Checklist 2020 Illustrative interim financial statements for a fictitious listed company, VALUE IFRS Plc, for the six months to 30 June 2020. ... Accounting Alert March 2020. ... share-based payment transactions in the separate or individual financial statements of statements of ABC Pte. This publication presents PwC's illustrative consolidated financial statements for a fictitious listed company, containing illustrative disclosures for as many common scenarios as possible. Reporting This publication presents illustrative consolidated financial statements for a fictitious listed company, VALUE IFRS Plc. Deloitte Accounting Focus (in Simplified Chinese) Go to main navigation Go to main content. Hong Kong Financial Reporting Standards - Illustrative Annual Financial Statements 2013. Illustrative financial reports and presentation and disclosure checklists are regularly published by public accounting firms and are freely available from the websites shown below. This first edition of Good Group (Australian SDS) Pty Ltd provides illustrative financial statements prepared in accordance with AASB 1060 General Purpose Financial Statements – Simplified Disclosures for For-Profit and Not-for-Profit Tier 2 Entities issued in March 2020. The accounts comply with IFRS as issued at 31 May 2020 and that apply to financial years commencing on or after 1 January 2020. STATUS Final. Our extensive library of publications provides the means to help you gain a better understanding of the principles of International Financial Reporting Standards (IFRS), as well as IFRS for the UK and UK GAAP. A guide for companies listed on the Main Board of The Stock Exchange of Hong Kong Limited, which are required to prepare their annual financial reports. These illustrative IFRS financial statements are intended to be used as a source of general technical reference, as … These illustrative financial statements are prepared in accordance with IFRS issued as at 30 June 2020 and effective for annual periods beginning on 1 January 2020. 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. & The company has elected to apply the limited exemption in IFRS 9 paragraph 7.2.15 relating to transition for classification and measurement Appropriate use of these resources would help entities to meet the latest presentation and disclosure requirements. Illustrative Financial Statements 2015. These are illustrative IFRS financial statements of a listed company, prepared in accordance with International Financial Reporting Standards. Hong Kong Financial Reporting Standards - Illustrative Annual Financial Statements 2013. This publication presents illustrative interim financial statements for a fictitious listed company, VALUE IFRS Plc, for the six months to 30 June 2020. … These financial statements illustrate the presentation and disclosure requirements of HKFRSs for the year ended 31 December 2013 issued by a Hong Kong listed company. Keywords: Illustrative Financial Statements; annual financial reporting; HKFRS Created Date: 6/17/2019 10:49:10 AM The accounts comply with IFRS as issued at 31 May 2020 and that apply to financial years commencing on or after 1 January 2020. For more information and to order hard copies, click on the above links. The accounts comply with IFRS as issued at 31 May 2020 and that apply to financial years commencing on or after 1 January 2020. For more information and to order hard copies, click on the above links. Download here the publication that presents PwC's illustrative consolidated financial statements for a fictitious listed company, containing illustrative disclosures for as many common scenarios as possible. This publication presents illustrative consolidated financial statements for a fictional listed company, VALUE HKFRS Limited. Model IFRS statements These are illustrative IFRS financial statements of a company prepared in accordance with IFRS. Assumptions made1-4 In compiling these illustrative disclosures, we have made the following assumptions: & The company has chosen 1 January 2015 as the date of initial application for the adoption of the new standard. This publication presents illustrative interim financial statements for a fictitious listed company, VALUE IFRS Plc, for the six months to 30 June 2020. 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