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IFRS model financial statements 2017

Published on: Aug 10, 2018

IFRS model financial statements 2017 — Released May 26, 2017

Deloitte's Global IFRS Office has released International GAAP Holdings Limited — Model financial statements for the year ended December 31, 2017.

These financial statements illustrate the presentation and disclosure requirements of IFRSs for the year ended December 31, 2017 by an entity that is not a first-time adopter of IFRSs. They illustrate the impact of the application of IFRSs that are mandatorily effective for the annual period beginning on January 1, 2017.

The publication includes:

  • Section 1 — New and revised IFRSs for 2017 annual financial statements and beyond:
    • An overview of new and revised IFRSs that are mandatorily effective for the year ended December 31, 2017
    • An overview of new and revised IFRSs that are not yet mandatorily effective but allow early application for the year ended December 31, 2017
  • Section 2 — Model financial statements for the year ended December 31, 2017

Appendix 1: Early adoption of IFRS 16, Leases — Released August 10, 2018

This Appendix has been produced to complement the International GAAP Holdings Limited Model financial statements for the year ended December 31, 2017. It focuses on the changes introduced by the requirements in IFRS 16, Leases which is effective for annual periods beginning on or after January 1, 2019 (earlier application is permitted if disclosed and if IFRS 15, Revenue from Contracts with Customers is also applied).

Appendix 2: Early application of IFRS 15, Revenue from Contracts with Customers — Released November 14, 2017

This Appendix has been produced to complement the International GAAP Holdings Limited Model financial statements for the year ended December 31, 2017. It focuses on the disclosure requirements in IFRS 15, Revenue from Contracts with Customers which are effective for annual periods beginning on or after January 1, 2018. It does not illustrate all the disclosures in IFRS 15, which will depend on an entity's underlying facts and circumstances.

An appendix illustrating early adoption of IFRS 9 will also be made available.

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