Updated BDO Publication – Annual Illustrative Financial Statements

BDO is pleased to announce the publication of its IFRS Illustrative Financial Statements for 31 December 2017 year ends.

The 2017 version has incorporated a number of changes, including:

• A reconciliation of liabilities for the purposes of complying with paragraphs 44A to 44E of IAS 7 Statement of Cash Flows.  These disclosure requirements are effective for the first time for accounting periods beginning on or after 1 January 2017 and resulted from an amendment to IAS 7 issued in January 2016 as part of the IASB’s disclosure initiative.
• Illustrative narrative for the purposes of complying with paragraph 30 of IAS 8 Accounting Policies, Changes in Accounting Estimates regarding the impact of standards issued but not yet effective, concentrating on the impact of IFRS 9 Financial Instruments, IFRS 15 Revenue from Contracts with Customers and IFRS 16 Leases.
• Appendices dealing with the disclosures required by IFRS 15 and IFRS 16.  We anticipate adding an additional appendix in due course showing how disclosures required by IFRS 7 Financial Instruments: Disclosures are impacted by the introduction of IFRS 9.
• Illustrative narrative for estimates and judgements made in light of the UK’s vote to leave the European Union (Brexit).

Please click here to access BDO’s IFRS Illustrative Financial Statements for 31 December 2017 year ends.