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! IAS PLUS

INTERNATIONAL FINANCIAL REPORTING STANDARDS
Model Financial Statements and Checklist

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December 2003

! IAS PLUS

INTERNATIONAL FINANCIAL REPORTING STANDARDS
Model Financial Statements and Checklist

The information in this publication has been written in general terms. It is intended as a guide only and the application of its contents to specificsituations will depend on the particular circumstances involved. It cannot be applied to a specific situation without appropriate professional advice. Accordingly, we recommend that readers seek such professional advice regarding their particular circumstances. This publication should not be relied on as a substitute for such professional advice. All offices of Deloitte Touche Tohmatsu would bepleased to advise you. While all reasonable care has been taken in the preparation of this publication, neither Deloitte Touche Tohmatsu, nor any of its offices, partners or employees, accept any responsibility for any errors it might contain, whether caused by negligence or otherwise, or for any loss, howsoever caused, incurred by any person as a result of relying on it. © 2003 Deloitte ToucheTohmatsu. All rights reserved. HK-121-03

CONTENTS
Model Financial Statements

Page
5

Presentation and Disclosure Checklist

77

ABBREVIATIONS
The following abbreviations have been used throughout this checklist: GAAP IAS IASB IASC IFRIC IFRS SIC Generally Accepted Accounting Principles International Accounting Standard(s) International Accounting Standards Board International AccountingStandards Committee International Financial Reporting Interpretations Committee of the IASB International Financial Reporting Standard(s) Interpretation issued by the Standing Interpretations Committee of the IASB (predecessor body to the IFRIC)

! IAS PLUS

Model Financial Statements

INTERNATIONAL FINANCIAL REPORTING STANDARDS
Model Financial Statements

INSERT IMAGE HERE

December2003

The model financial statements of International GAAP Holdings Limited are intended to address the presentation and disclosure requirements of International Financial Reporting Standards (IFRS). They also contain additional disclosures that are considered to be best practice, particularly where such disclosures are included in illustrative examples provided with a specific Standard. Thesemodel financial statements have been presented without regard to local laws or regulations. Preparers of financial statements will need to ensure that the options selected under IFRS do not conflict with such sources of regulation (e.g. the revaluation of assets is not permitted within certain regimes - but these financial statements illustrate the presentation where the alternative treatment underIAS 16 (Revised 1998), Property, Plant and Equipment is adopted). In addition, local laws or securities regulations may specify disclosures in addition to those required by IFRS (e.g. in relation to directors’ remuneration). Preparers of financial statements will consequently need to adapt the model financial statements to comply with such additional local requirements. Suggested disclosures arecross-referenced to the relevant requirements in the disclosure checklist on page 77. References are also provided to the underlying requirements in the texts of the relevant Standards. References are made by IFRS number, followed by the paragraph number e.g. 40.69 refers to paragraph 69 of IAS 40. For those Standards revised since their original issue, the year of the most recent revision is alsonoted, e.g. 14(r1997).55 refers to paragraph 55 of IAS 14 (Revised 1997). For the purposes of presenting the income statement, statement of changes in equity and cash flow statement - the various alternatives allowed for under IFRS for those primary statements have been illustrated. Preparers should select the alternatives most appropriate to their circumstances.

Model Financial Statements...
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