How to prepare notes to IFRS financial statements

Guidances, templates and examples of Notes to IFRS financial statements for a trade/manufacturing company at first adoption of IFRS

How to prepare Notes to IFRS financial statements on one’s own, and which guidance to use

1. You may prepare IFRS Notes using our standard template

2. In case of a doubt, you may check the Big4 guidances provided.

3. Having prepared the Notes, we recommend advise with us on their correctness to pass the audits with less comments and time waste. We continuously update our template and adapt it for the clients’ specifics.

4. We may also help you automate the reporting preparation to reduce the preparation time.

Konstantin Krasnoukhoff

We prepared the IFRS reporting package for a client, which included the IFRS Notes. We designed our own Notes template, which is the utmost logical and with a condensed document structure, if compared to Big4 templates. It is very user-friendly and allows to easily find any needed information. The statements, as we as the accompanying independent auditors’ report by KPMG, were published on the company’s website. The auditors confirmed our statements without P&L modifications (the changes rather concerned some balance items reclassification, as well as some Notes specification).

IFRS REPORTING GUIDANCES

Recommended “Big4” templates:

Year	Type	Link	Source
2019	Quarterly	Interim financial reporting June 2019	PWC
	Quarterly	Unaudited interim condensed consolidated financial statements Q1 2019	E&Y
	Standalone	Guide to annual financial statements	KPMG
	Consolidated	Illustrative IFRS consolidated financial statements	KPMG
2018	Standalone	IFRS model financial statements 2018	Deloitte
	Standalone	Guide to annual financial statements 2018	KPMG
	Consolidated	Illustrative consolidated financial statements 2018	E&Y

The templates are renewed annually, however, the older ones are still useful for the respective earlier periods.

The above templates are condensed to the minimal required (material and substantial) information and are appended with sections related to country and local legislation specifics.

We will update this section regularly. If any of the links is not working, please send us a message via the red button at page bottom-right.

SIMPLE MODEL IFRS NOTES TEMPLATE FOR A TRADING/MANUFACTURING COMPANY

We prepared a Notes template using the utmost logical and condensed document structure, which we use ourselves. While preparing your financials make sure you observe your company’s specifics.

KRASNOUKHOFF_ЗРАЗОК_Примітки_до_фінзвітності_МСФО_2018_укр.docx

The Notes template in Ukrainian (English version is available on demand upon request).

DO YOU KEEP MY REQUEST CONFIDENTIAL?

By default, we keep all client information confidential as we adhere to the highest possible ethics standards of an audit firm. Should your question require an extra assurance, we may promptly provide you with a Non-Disclosure Agreement signed on our side in scan- and/or hard-copy. Just let us know the exact legal entity name and address to prepare it. Alternatively, or may provide us with your preferred NDA template to sign. We will not require a sign-off on your side.

WHAT ARE YOUR FEES?

Our fees are always based on estimated time to be spent for the project plus travelling expense. The hourly rates start from EUR 25 (40-$60 at average) depending on a service type, engagement team members, our current workload, market/demand and some other factors. Please contact us providing with as much details as possible about your issue, and we will come back to you with a call back and our individual proposal.

IFRS REPORTING GUIDANCES

SIMPLE MODEL IFRS NOTES TEMPLATE FOR A TRADING/MANUFACTURING COMPANY

DO YOU KEEP MY REQUEST CONFIDENTIAL?

WHAT ARE YOUR FEES?

WHAT IF I HAVE A QUESTION?

THANK YOU FOR YOU INTEREST IN OUR FREE DIGITAL PRODUCTS!