disclosures about the possible impact of IFRS 16 that are required under IAS 8. Further specific information may be required in order to ensure fair presentation under IFRS. <> endobj In particular, NZ IFRS RDR Limited: • has applied the simplified transition approach and has not restated comparative information 2 0 obj The financial statements illustrative disclosures to reflect the first time adoption of IFRS 9 ‘Financial Instruments’ and IFRS 15 ‘Revenue from Contracts with Customers’. Illustrative NZ IFRS consolidated financial statements for December 2016 year ends, including Reduced Disclosure Regime concessions. They do not cover all possible disclosures that IFRS requires. endobj %PDF-1.5
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IFRS 16 Leases The new standard is ready, are you? <> IFRS 12 is applicable for annual reporting periods beginning on or after 1 January 2013. After adopting IFRS 16, many companies will issue interim financial statements under IAS 34 before preparing the first annual financial statements. disclose changes arising from IFRS 16 For many companies, IFRS 16, the new accounting standard for leases, will materially affect the financial position and results. [50 0 R 53 0 R 56 0 R 57 0 R 59 0 R 62 0 R 63 0 R 64 0 R 65 0 R 66 0 R 67 0 R 68 0 R 69 0 R 70 0 R 71 0 R 72 0 R 75 0 R 76 0 R 79 0 R 80 0 R 81 0 R 85 0 R 86 0 R 87 0 R 88 0 R 91 0 R 92 0 R 93 0 R 94 0 R 95 0 R 96 0 R 99 0 R 100 0 R 101 0 R 102 0 R 105 0 R 106 0 R 108 0 R 112 0 R 113 0 R 114 0 R 117 0 R 118 0 R 119 0 R 122 0 R 123 0 R 124 0 R 127 0 R 128 0 R 129 0 R 132 0 R 133 0 R 134 0 R 136 0 R 138 0 R 139 0 R 140 0 R 142 0 R 143 0 R 144 0 R 145 0 R 146 0 R 150 0 R 151 0 R 152 0 R 153 0 R 154 0 R 155 0 R 158 0 R 159 0 R 162 0 R 163 0 R 164 0 R 165 0 R 168 0 R 169 0 R 172 0 R 173 0 R 174 0 R 175 0 R 176 0 R 177 0 R 180 0 R 181 0 R 182 0 R 183 0 R 186 0 R 187 0 R 190 0 R 191 0 R 192 0 R 193 0 R 196 0 R 197 0 R 200 0 R 201 0 R 202 0 R 204 0 R 205 0 R 209 0 R 210 0 R 213 0 R 214 0 R 215 0 R 216 0 R 219 0 R 220 0 R 221 0 R 223 0 R 224 0 R 225 0 R 226 0 R 230 0 R 231 0 R 232 0 R 233 0 R 236 0 R 237 0 R 238 0 R 241 0 R 242 0 R 243 0 R 246 0 R 247 0 R 248 0 R 251 0 R 252 0 R 253 0 R 256 0 R 257 0 R 258 0 R 259 0 R 262 0 R 263 0 R 265 0 R 266 0 R 267 0 R 268 0 R 271 0 R 272 0 R 273 0 R 274 0 R 275 0 R 276 0 R 277 0 R 278 0 R 279 0 R 282 0 R 283 0 R 287 0 R 288 0 R 289 0 R 290 0 R 291 0 R 294 0 R 295 0 R 296 0 R 297 0 R 298 0 R 301 0 R 302 0 R 303 0 R 304 0 R 307 0 R 312 0 R 316 0 R 317 0 R 321 0 R 322 0 R 326 0 R 327 0 R 332 0 R 336 0 R 340 0 R 344 0 R 349 0 R 353 0 R 357 0 R 361 0 R 366 0 R 370 0 R 374 0 R 378 0 R 383 0 R 387 0 R 391 0 R 395 0 R 400 0 R 404 0 R 408 0 R 412 0 R 417 0 R 421 0 R 425 0 R 429 0 R 434 0 R 438 0 R 442 0 R 446 0 R 451 0 R 455 0 R 459 0 R 463 0 R 464 0 R 465 0 R 466 0 R 467 0 R 468 0 R 469 0 R 470 0 R 471 0 R 472 0 R 473 0 R 474 0 R 475 0 R 476 0 R 477 0 R 478 0 R 479 0 R 480 0 R 481 0 R] This illustrative report does also not cover all possible disclosures that IFRS require. Areas in which presentation has changed significantly since 2017 are highlighted. • Illustrative IFRS consolidated fi nancial statements for 2013 year ends inform.pwc.com – Accounting and auditing research at your fi ngertips Pape r from Alternative presentations may be acceptable if they comply with the specific disclosure requirements prescribed in IFRS. endobj IFRS 16. Phase 2 amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 – interest rate benchmark (IBOR) reform. Interim disclosures in the first year of applying IFRS 16, pwc:services/audit_and_assurance/ifrs_reporting/ifrs_16. [!�]o�Q�+c(J�.o0Uǚ^����MQ��o�耨c����cf�{�@M@ﷄ0�ʢ�\ǚ�c+���.�"'��j�2h}��$���3$V����C�Li��C��Vڢ2G�=c��E��džW�ڤv�G�㐠Np:�\�V�Z�2�[���Ul���$�}z�D�Ѕ D��h�ҏ�FF�V��b�}=]=��i}}9��sŶ�$��g�ٶ5��e^����1ԧ����rnt��֬� O��}�Nw�yL�
R��F"��W������(j�Ə_�(�+(sq��㳺^��wF/Fj�V��C�@�/�"����Q���M�[2�#��AR��!�l(�� V�!����/ IFRS 16 sets out a comprehensive model for the identification of lease arrangements BC218-BC223) Additional disclosures (paragraph 59) (paras. IFRS in Focus — IASB issues 'Interest Rate Benchmark Reform — Phase 2 (Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16)' 02 Sep 2020 IAS 34 compliance checklist 2020 Under existing rules, lessees generally account for lease transactions either as off-balance sheet operating or as IFRS 16 requires different and more extensive disclosures about leasing activities than IAS 17. After adopting IFRS 16, many companies will issue interim financial statements under IAS 34 before preparing the first annual financial statements. 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. New disclosure requirements and changes in accounting policies Most companies will have to make changes to their disclosures this year to reflect the adoption of AASB 16 Leases. <> 48 0 obj endobj Although the new standard was published in 2016, its implementation is difficult for many entities. Most companies will have to make changes to their disclosures this year to reflect the adoption of NZ IFRS 16 Leases. 10.0 The example disclosures are not the only acceptable form of presenting financial statements. PwC endstream 2018-02-21T04:05:28.454-05:00 IFRS 16 Leases was issued by the IASB in January 2016. IFRS 12 aims to provide the users of financial statements with sufficient disclosures for them to … IFRS 16 Leases The new standard is ready, are you? 2018-02-21T04:10:50.837-05:00 endobj "����'_�?؝�M� j��XX�B`}�D��T&�. After adopting IFRS 16, many companies will issue interim financial statements under IAS 34 before preparing the first annual financial statements. An appendix illustrating new leasing disclosures that will be applicable when an entity has adopted IFRS 16 ‘Leases’ as a … The guide also includes extracts from EY's IFRS disclosure … This publication includes illustrative financial instruments disclosures for banks applying IFRS 9. not cover all possible disclosures that IFRS require. IFRS GAAP plc is an existing preparer of IFRS consolidated financial statements; IFRS 1, ‘First-time adoption of International Financial Reporting Standards, is not ’ applicable. and related interpretations, and is applicable for the first time for entities with an annual reporting period beginning on or after 1 January 2019. <>/MediaBox[0 0 540 720]/Parent 2 0 R/Resources<>/Font<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI]/XObject<>>>/StructParents 1/Tabs/S/Type/Page>> Peter Hogarth, PwC, pinpoints the hot topics in implementing IFRS 16 Leases at the Financial Reporting Faculty’s 2019 conference. We have illustrated a realistic set of disclosures for a medium-sized bank. They do not cover all possible disclosures that IFRS requires. <>/MediaBox[0 0 596.04 843]/Parent 2 0 R/Resources<>/Font<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI]>>/StructParents 1/Tabs/S/Type/Page>> 161 0 obj 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. pwc:services/audit_and_assurance/ifrs_reporting/ifrs_16 <>stream
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