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IFRS model financial statements 2017

Published on: Nov 14, 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

IFRS model financial statements 2017 — Appendix 2: Early application of IFRS 15, Revenue from Contracts with Customers

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.

Appendices illustrating early adoption of IFRS 9 and IFRS 16 will be available later this year.

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