IFRS Disclosure Checklist

International Financial Reporting Standards
Disclosure checklist 2007
PricewaterhouseCoopers IFRS and corporate governance publications and tools 2007

IFRS technical publications
IFRS Manual of Accounting 2008 Provides expert practical guidance on how groups should prepare their consolidated nancial statements in accordance with IFRS. Comprehensive publication including hundreds of worked examples, extracts from company reports and model nancial statements.
IFRS News Monthly newsletter focusing on the business implications of the IASB's proposals and new standards.
Adopting IFRS A step-by-step illustration of the transition to IFRS Illustrates the steps involved in preparing the rst IFRS nancial statements. It takes into account the effect on IFRS 1 of the standards issued up to and including March 2004.
IAS 39 Achieving hedge accounting in practice Covers in detail the practical issues in achieving hedge accounting under IAS 39. It provides answers to frequently asked questions and step-by-step illustrations of how to apply common hedging strategies.
Financial instruments under IFRS High-level summary of the revised nancial instruments standards issued in December 2003, updated to reect IFRS 7 in September 2006. For existing IFRS preparers and rst-time adopters.
Illustrative condensed consolidated interim nancial information for existing preparers Illustrative information, prepared in accordance with IAS 34, for a ctional existing IFRS preparer. Includes a disclosure checklist and IAS 34 application guidance. Reects standards issued up to 31 May 2006.
Illustrative Consolidated Financial Statements Financial Reporting in Hyperinationary Economies Understanding IAS 29 2006 update (reecting impact of IFRIC 7) of a guide for entities applying IAS 29. Provides an overview of the standards concepts, descriptions of the procedures and an illustrative example of its application. Investment funds, 2006 Banking, 2006 Investment property, 2006 Corporate, 2007 Insurance, 2006 Realistic sets of nancial statements for existing IFRS preparers in the above sectors illustrating the required disclosure and presentation.
IFRS 3R: Impact on earnings the crucial Q&A for decision-makers Guide aimed at nance directors, nancial controllers and deal-makers, providing background to the standard, impact on the nancial statements and business, and summary differences with US GAAP.
Illustrative Interim Consolidated Financial Statements for First-time Adopters 2005 Realistic set of interim IFRS nancial statements for rst-time adopters. The nancial statements for the six months ended June 2005 illustrate the disclosure and presentation required by all IFRSs published up to and including December 2004.
IFRS Disclosure checklist 2007 Outlines the disclosures required by all IFRSs published up to September 2006.
Share-based Payment a practical guide to applying IFRS 2 Assesses the impact of the new standard, looking at the requirements and providing a step-by-step illustration of how to account for share-based payment transactions.
IFRS Measurement Checklist 2006 Outlines the measurement bases required by all IFRSs published up to September 2006.
SIC-12 and FIN 46R The Substance of Control Helps those working with special purpose entities to identify the differences between US GAAP and IFRS in this area, including examples of transactions and structures that may be impacted by the guidance.
IFRS for SMEs (proposals) Pocket Guide 2007 Provides a summary of the recognition and measurement requirements in the proposed IFRS for Small and Medium-Sized Entities published by the International Accounting Standards Board in February 2007.
Similarities and Differences a comparison of IFRS and US GAAP Presents the key similarities and differences between IFRS and US GAAP, focusing on the differences commonly found in practice. It takes into account all standards published up to August 2007.
IFRS Pocket Guide 2006 Provides a summary of the IFRS recognition and measurement requirements, including currencies, assets, liabilities, equity, income, expenses, business combinations and interim nancial statements.
Understanding nancial instruments A guide to IAS 32, IAS 39 and IFRS 7 Comprehensive guidance on all aspects of the requirements for nancial instruments accounting. Detailed explanations illustrated through worked examples and extracts from company reports.
International Financial Reporting Standards Disclosure checklist 2007
International Financial Reporting Standards Disclosure Checklist 2007

The IFRS Disclosure Checklist has been updated to take into account standards and interpretations amended or issued up to September 2007. The most recently issued standards and interpretations from the IASB and IFRIC are: IAS 1 Amendment Presentation of Financial Statements: Capital Disclosures IAS 1 Revised Presentation of Financial Statements IAS 19 Amendment Actuarial Gains and Losses Group Plans and Disclosures IAS 23 Revised Borrowing Costs IAS 39 Amendment Cash Flow Hedge Accounting of Forecast Intragroup Transactions IAS 39 Amendment The Fair Value Option IAS 39 and IFRS 4 Amendment Financial Guarantee Contracts IFRS 6 Exploration for and Evaluation of Mineral Resources IFRS 7 Financial Instruments: Disclosures IFRS 8 Operating Segments IFRIC 4 Determining whether an Arrangement contains a Lease IFRIC 5 Rights to Interests arising from Decommissioning, Restoration and Environmental Rehabilitation Funds IFRIC 6 Liabilities arising from Participating in a Specic Market: Waste Electrical and Electronic Equipment IFRIC 7 Applying the Restatement Approach under IAS 29, Financial Reporting in Hyperinationary Economies IFRIC 8 Scope of IFRS 2 IFRIC 9 Reassessment of Embedded Derivatives IFRIC 10 Interim Reporting and Impairment IFRIC 11 IFRS 2 Group and Treasury Share Transactions IFRIC 12 Service Concession Arrangements IFRIC 13 Customer Loyalty Programmes IFRIC 14 IAS 19 The Limit on a Dened Benet Asset, Minimum Funding Requirements and their Interaction. Application date 1 January 2007 1 January 2009* 1 January 2006 1 January 2009* 1 January 2006 1 January 2006 1 January 2006 1 January 2006 1 January 2007 1 January 2009* 1 January 2006 1 January 2006 1 December 2005 1 March 2006 1 May 2006 1 June 2006 1 November 2006 1 March 2007* 1 January 2008* 1 July 2008* 1 January 2008*
* Earlier application is permitted (and disclosure of early application is required). Early adopters of these standards should be aware that there may be consequential amendments that affect the disclosure requirements of other standards.
Disclosure requirements resulting from standards and interpretations that have been issued but are not yet effective are included in Section A, except for disclosures relating to and IAS 1 Revised Presentation of Financial Statements, and IFRS 8, Operating Segments. These are outlined in Section H and I respectively for those entities that have early adopted these standards. Signicant updates that have been made to this publication since 2006 are highlighted in blue. The checklist does not deal with the measurement requirements of IFRS; a thorough reading of those standards and interpretations that are relevant to the reporting entitys circumstances will be necessary. This checklist is intended for general reference purposes only; it is not a substitute for reading the standards and interpretations themselves, or for professional judgement as to the fairness of presentation. Further specic information may be required in order to ensure fair presentation under IFRS depending on the circumstances. Additional accounting disclosures may be required in order to comply with local laws, national nancial reporting standards and/or stock exchange regulations.
PricewaterhouseCoopers
Structure of Disclosure Checklist

Section A Section B Section C Section D Section E Section F Section G Section H Section I Section J Disclosures for consideration by all entities Disclosures required by all entities but only in certain situations Industry-specic disclosures Additional disclosures required for listed companies Additional disclosures required for entities that issue insurance contracts Additional disclosures required for retirement benet plans Suggested disclosures for nancial review outside the nancial statements Disclosures relating to IAS 1 revised Disclosures relating to IFRS 8 Disclosures for interim nancial reports
Format of Disclosure Checklist

The Disclosure Checklist is presented in a format designed to facilitate the collection and review of disclosures for each component of the nancial statements. All disclosures have been grouped by subject, where appropriate. Additional notes and explanations in the checklist are shown in italics. The references in the left-hand margin of the checklist represent the paragraphs of the standards in which the disclosure requirements appear for example, 8p40 indicates IAS 8 para 40. The designation DV (disclosure voluntary) indicates that the relevant IFRS encourages, but does not require, the disclosure. Additional notes and explanations are shown in italics. Disclosure requirements resulting from standards and interpretations that have been issued but are not yet effective are included in the relevant section, together with the disclosure requirements resulting from standards and interpretations that are still valid. The effective date for standards and interpretations that have been issued but are not yet effective is stated in the footnotes to the references in the left-hand column. The box in the right-hand margin of each page is designed to assist in completing the checklist. In the left-hand box (headed Y-NA-NM) one of the following should be entered for each disclosure item: Y (Yes) the appropriate disclosure has been made; NA (Not applicable) the item does not apply to the reporting entity; or NM (Not material) the item is regarded as not material to the nancial statements of the reporting entity. Materiality is dened in IAS 1 paragraph 11, and in paragraphs 29 and 30 of the IASBs Framework for the Preparation and Presentation of Financial Statements. IAS 1 paragraph 31 states that a specic disclosure requirement in a standard or an interpretation need not be satised if the information is not material. The right-hand box on each page (headed Ref) can be used to insert a reference to the relevant part of the nancial statements (for example, Note 7) for all items that have been marked Y in the left-hand box.
Section A
A1
Disclosures for consideration by all entities

General disclosures 1. General disclosures 2. Presentation and functional currency 3. Other disclosures Accounting policies 1. General disclosures 2. Specic policies 3. Changes in accounting policy Income statement (and related notes) 1. General disclosures 2. Individual items 3. Income tax 4. Extraordinary items Statement of changes in shareholders equity (and related notes) Statement of changes in equity 1. 2. Statement of recognised income and expense 3. General disclosures Balance sheet (and related notes) 1. General disclosures 2. Measurement uncertainty 3. Property, plant and equipment 4. Investment property 5. Intangible assets (excluding goodwill) 6. Goodwill and negative goodwill 7. Impairment of assets 8. Associates 9. Joint ventures 10. Subsidiaries 11. Investments nancial assets 12. Inventory 13. Trade and other receivables 14. Income taxes 15. Trade and other payables 16. Provisions 17. Post-employment benets dened benet plans 18. Lease liabilities 19. Borrowings and other liabilities 20. Government grants 21. Related-party transactions 22. Commitments 23. Contingencies 24. Events after the balance sheet date Cash ow statement General presentation 1. Individual items 2. Business combinations and disposals 1. Business combinations Disposals 2.
7
9 9 10 10 12 12 12 14 16 16 17 19 19 20 20 21 22 23 23 24 25 26 28 29 30 33 34 34 35 35 36 36 37 37 38 41 43 43 43 45 45 46 47 47 48 49 49 50
A2
A3
A4
A5
A6
A7
A8
Disclosures relating to IFRS 7 1. General disclosures 2. Categories of nancial assets and nancial liabilities 3. Financial assets or nancial liabilities at fair value through prot or loss 4. Reclassication 5. Derecognition 6. Collateral 7. Allowance account for credit losses 8. Compound nancial instruments with multiple embedded derivatives 9. Defaults and breaches 10. Income statement and equity 11. Other disclosures 12. Nature and extent of risks arising from nancial instruments 13. Qualitative disclosures 14. Quantitative disclosures 15. Capital disclosures 16. Financial guarantees Non-current assets held for sale and discontinued operations
51 51 51 51 52 52 53 53 53 53 54 54 57 58 58 60 61 62
A9
Section B
B1 B2 B3 B4 B5 B6 B7 B8
Disclosures required by all entities but only in certain situations

Correction of prior-period errors Reporting in the currency of a hyperinationary economy Uncertainties about going concern Departure from IFRS Change of year-end Intermediate parent company consolidated nancial statements not presented Share-based payments First-time adoption of IFRS 1. General disclosures 2. Explanation of transition to IFRS Designation of nancial assets or nancial liabilities 3. Use of fair value as deemed cost 4. 5. Interim nancial reports 6. Exemption from restating comparatives for IAS 39 and IFRS 4 Exemption from providing comparative disclosures for IFRS 6 7. 8. Exemption from providing comparative disclosures for IFRS 7
65
67 67 68 68 69 69 69 72 72 72 73 73 73 73 74 74
Section C
C1 C2
Industry-specic disclosures
Construction contracts Agriculture 1. General disclosures 2. Additional disclosures where fair value of biological assets cannot be measured Public service concession arrangements Accounting by a lessor 1. Lessors nance leases 2. Lessors operating leases Arrangements that do not involve a lease in substance 3. Decommissioning, restoration and environmental rehabilitation funds
75
77 77 77 78 79 79 79 80 80 80
C3 C4
C5
Section D
D1
Additional disclosures required for listed companies

Segment reporting 1. General disclosures 2. Primary segment format 3. Secondary segment format 4. Other disclosures Earnings per share Additional disclosures required by entities that issue insurance contracts Disclosures required for retirement benet plans Suggested disclosures for nancial review outside the nancial statements Disclosures relating to IAS 1 revised 1. General disclosures 2. Statement of comprehensive income and related notes 3. Statement of changes in equity 4. Statement of nancial position and related notes 5. Notes to the nancial statements Disclosures relating to IFRS 8 1. General disclosures 2. Information about prot or loss, and assets and liabilities 3. Entity-wide disclosures Disclosures for interim nancial reports
83
85 85 85 87 87 88 91 97 101 107 109 111 112 112 114 117 119 119 120 123
D2 Section E Section F Section G Section H
Section I
Section J
Section A Disclosures for consideration by all entities
International Financial Reporting Standards Disclosure checklist 2007 Section A1
Y-NA-NM
REF
A1 General disclosures
1. General disclosures
1p8 1. Include the following components in the nancial statements: (a) a balance sheet; (b) an income statement; (c) a statement of changes in equity showing either: (i) all changes in equity; or (ii) changes in equity other than those arising from transactions with equity holders acting in their capacity as equity holders; (d) a cash ow statement; and (e) notes, comprising a summary of signicant accounting policies and other explanatory notes. Financial statements should be clearly identied and distinguished from other information in the same published document (for example, by providing an index to the annual report). Clearly identify each component of the nancial statements. Include the following in the notes to the nancial statements: (a) the date when the nancial statements were authorised for issue; (b) the body who gave that authorisation; and (c) whether the entitys owners or others have the power to amend the nancial statements after issue. Display prominently the following information and repeat when necessary for a proper understanding of the information presented: (a) the name of the reporting entity or other means of identication, and any change in that information from the preceding balance sheet date; (b) whether the nancial statements cover the individual entity or a group of entities; (c) the balance sheet date or the period covered by the nancial statements, whichever is appropriate to the related component of the nancial statements; (d) the presentation currency; and (e) level of precision used in the presentation of gures in the nancial statements (for example, thousands or millions of units of the presentation currency). Disclose that the nancial statements comply with IFRS (as dened by IAS 1 para 11). Financial statements should not be described as complying with IFRS unless they comply with all the requirements of IFRS. An explicit and unreserved statement of compliance with IFRS should be made in the notes.
1p44
2.
1p46 10p17
3. 4.
1p46
5.
1p14
6.
Section A1
Y-NA-NM
REF
2. Presentation and functional currency

21p53 1. When the presentation currency is different from the functional currency, state that fact, together with disclosure of the functional currency and the reason for using a different presentation currency. When there is a change in the functional currency of either the reporting entity or a signicant foreign operation, disclose that fact and the reason for the change in functional currency. When an entity presents its nancial statements in a currency that is different from its functional currency, it should describe the nancial statements as complying with IFRS only if they comply with all the requirements of each applicable standard and each applicable interpretation including the translation method set out in IAS 21, paras 39 and 42. An entity sometimes presents its nancial statements or other nancial information in a currency that is not its functional currency without applying the translation methods set out in IAS 21, paras 39 and 42. For example, an entity may convert only selected items from its nancial statements into another currency; or, an entity whose functional currency is not the currency of a hyperinationary economy may convert the nancial statements into another currency by translating all items at the most recent closing rate. Such conversions are not in accordance with IFRS, and the disclosures set out in IAS 21, para 57 are required (see below). When an entity presents its nancial statements or other nancial information in a currency that is different from either its functional currency or its presentation currency without applying the translation methods set out in IAS 21, paras 39 and 42, it should: (a) clearly identify the information as supplementary information to distinguish it from the information that complies with IFRS; (b) disclose the currency in which the supplementary information is displayed; and (c) disclose the entitys functional currency and the method of translation used to determine the supplementary information.
21p54
2.
21p55
3.
21p56
4.
21p57
5.
3. Other disclosures
1p103 1. The notes to an entitys nancial statements should: (a) present information about: (i) the basis of preparation of the nancial statements; and (ii) the specic accounting policies selected and applied for signicant transactions and events; (b) disclose the information required by IFRS that is not presented elsewhere in the nancial statements; and (c) provide additional information that is not presented on the face of the nancial statements but is relevant to an understanding of any of them. Present the notes to the nancial statements in a systematic manner (refer also to IAS 1, para 105). Each item on the face of the balance sheet, income statement and cash ow statement should be cross-referenced to any related information in the notes.
1p104 1p104
2. 3.
10
Y-NA-NM
REF
4. 1p36 1p36
1p38 1p39
Comparatives. (a) Disclose comparative information unless a standard or interpretation permits or requires otherwise; (b) Include comparative information in narrative and descriptive format when it is relevant to an understanding of the current periods nancial statements; (c) Disclose the nature, amount of, and reason for, any reclassication of comparative amounts; and (d) When it is impracticable to reclassify comparative amounts, disclose the reason for not reclassifying and the nature of the changes that would have been made if amounts were reclassied. If not disclosed elsewhere in the information published with the nancial statements, disclose: (a) the entitys domicile; (b) the entitys legal form; (c) the entitys country of incorporation; (d) the address of the entitys registered ofce (or principal place of business, if different from the registered ofce); (e) description of the nature of the entitys operations and its principal activities; (f) name of the immediate parent entity (or other controlling shareholder); (g) name of the ultimate parent entity; and (h) name of the ultimate controlling party. If neither the parent entity nor the ultimate parent entity present nancial statements available for public use, disclose the name of the next most senior parent that does so.
1p126
5.
24p12 1p126(c) 24p12 24p12
DV1p9
6.
Companies may present outside the nancial statements a nancial review by management that describes and explains the main features of the entitys nancial performance and nancial position, and the principal uncertainties it faces. Refer to Section G. Companies with exploration and evaluation activities should disclose the amounts of assets, liabilities, income and expense and operating and investing cash ows arising from the exploration for and evaluation of mineral resources.
IFRS6p24(b) 7.
11
Section A2
Y-NA-NM
REF
A2 Accounting policies
1p108 1. The accounting policies section should describe the following: (a) the measurement basis (or bases) used in the accounts (for example, historical cost, and historical cost modied by the revaluation of certain non-current assets); and (b) the other accounting policies used that are relevant to an understanding of the nancial statements. In consolidated nancial statements, the results of all subsidiaries, associates and joint ventures should be consolidated, equity accounted for or proportionally consolidated, as applicable, using uniform accounting policies for like transactions and other events in similar circumstances. In accordance with the transition provisions of each standard, disclose whether any standards have been adopted by the reporting entity before the effective date. Inappropriate accounting policies are not rectied either by disclosure of the accounting policies used or by notes or explanatory material.
27p28 28p26 31p33
2.
3.
1p16
4.
2. Specic policies
Disclosure of the following accounting policies is required: 1p110 1. Consolidation principles, including accounting for: (a) subsidiaries; and (b) associates. Business combinations. Joint ventures, including the method the venturer uses to recognise its interests in jointly controlled entities. Foreign currency transactions and translation. Property, plant and equipment for each class: (a) measurement basis (for example, cost less accumulated depreciation and impairment losses, or revaluation less subsequent depreciation); (b) depreciation method (for example, the straight-line method); (c) the useful lives or the depreciation rates used. Investment property. Disclose: (a) whether the entity applies the fair value model or the cost model; (b) if it applies the fair value model, whether, and in what circumstances, property interests held under operating leases are classied and accounted for as investment property; (c) when classication is difcult, the criteria the entity uses to distinguish investment property from owner-occupied property and from property held for sale in the ordinary course of business; (d) the methods and signicant assumptions applied in determining the fair value of investment property, including a statement on whether the determination of fair value was supported by market evidence or was more heavily based on other factors (which should be disclosed) because of the nature of the property and lack of comparable market data; and
1p110 31p57 1p110 16p73(a-c)
2. 3. 4. 5.
40p75(a-e)
6.
12
Y-NA-NM
REF
(e) the extent to which the fair value of investment property (as measured or disclosed in the nancial statements) is based on a valuation by an independent valuer who holds a recognised and relevant professional qualication and has recent experience in the location and category of the investment property being valued. 1p110 7. Other intangible assets. Disclose, for each class (distinguishing between internally generated and acquired assets): (a) accounting treatment (cost less amortisation, or, in very rare cases, revaluation less subsequent amortisation); (b) whether the useful lives are indenite or nite; (c) for intangible assets with nite useful lives, the amortisation period and amortisation methods used (for example, the straight-line method); (d) for intangible assets with indenite useful lives, that they have been tested for impairment annually and whenever there is an indication that the intangible asset may be impaired. Treatment of research costs and the basis for capitalisation of development costs and website development costs. Borrowing costs (for example, expensed or capitalised as part of a qualifying asset).
38p118(a) 38p118(a)(b)
38p108
1p110 1p110, 23p9, 29(a) IFRS7p21
8. 9.
10. For each class of nancial asset, nancial liability and equity instrument, disclose the accounting policies and methods adopted, including the criteria for recognition and the basis of measurement. As part of the disclosure of an entitys accounting policies, disclose, for each category of nancial assets, whether regular way purchases and sales of nancial assets are accounted for at trade date or at settlement date (refer to IAS 39, para 38). Provide disclosure of all signicant accounting policies, including the general principles adopted and the method of applying those principles to transactions, other events and conditions arising in the entitys business. In the case of nancial instruments, such disclosure includes: (a) the criteria applied in determining when to recognise a nancial asset or nancial liability, and when to derecognise it; (b) the measurement basis applied to nancial assets and nancial liabilities on initial recognition and subsequently; and (c) the basis on which income and expenses arising from nancial assets and nancial liabilities are recognised and measured. 11. Leases. 12. Inventories, including the cost formula used (for example, FIFO or weighted average cost). 13. Provisions. 14. Employee benet costs including policy for recognising actuarial gains and losses (refer to IAS 19 paras 92, 93 and 127). 15. Share-based payments. 16. Taxes, including deferred taxes. 17. Revenue recognition.
IFRS7pB5
IFRS7p21 1p108
1p110 2p36(a) 1p110 19p120A(a) IFRS2p44 1p110 18p35(a) 1p110
13
Section A2
Y-NA-NM
REF
18p35(a) 1p110, 11p39(b)(c)
18. The method adopted to determine the stage of completion of transactions involving the rendering of services. 19. Construction contracts, including: (a) methods used to determine contract revenue recognised; and (b) methods used to measure stage of completion of contracts in progress. 20. Government grants: (a) accounting policy; and (b) method of presentation in nancial statements.
20p39(a) 1p110
1p110, 7p46 21. Denition of cash and cash equivalents. 1p110 22. Segment reporting (required for listed companies): (a) denition of business and geographical segments; and (b) the basis for allocation of costs between segments.
IFRS6p24(b) 23. Exploration and evaluation expenditures including the recognition of exploration and evaluation assets. 36p80, 102 24. Policy for all assets including the selection of the cash-generating units to allocate the corporate assets and goodwill for the purpose of assessing such assets for impairment.
IFRS6p21, 23 25. Policy for allocating exploration and evaluation assets to cashgenerating units or groups of cash-generating units for the purpose of assessing such assets for impairment. 1p112 26. Any other signicant accounting policy that is not specically required by IFRS, but is selected and applied in accordance with IAS 8. An accounting policy may be signicant because of the nature of the entitys operations even if amounts for current and prior periods are not material. 27. The accounting policies section or other notes should describe managements judgements, apart from those involving estimations, made in the process of applying the entitys accounting policies that have the most signicant effect on the amounts recognised in the nancial statements.
1p113
3. Changes in accounting policy

8p19 1. Where a change in accounting policy is made on the adoption of an IFRS, provide the disclosures in accordance with the specic transitional provisions of that standard. On initial application of a relevant standard or interpretation, disclose: (a) the title of the standard or interpretation; (b) that the change in accounting policy is made in accordance with its transitional provisions, when applicable; (c) the nature of the change in accounting policy; (d) a description of the transitional provisions, when applicable; (e) the transitional provisions that might have an effect on future periods, when applicable; (f) the amount of the adjustment for the current period and each prior period presented, to the extent practicable: (i) for each nancial statement line item affected; and (ii) if IAS 33 applies to the entity, the impact on basic and diluted earnings per share;
8p28
2.
14
Y-NA-NM
REF
(g) the amount of the adjustment relating to periods before those presented, to the extent practicable; and (h) if the retrospective application required is impracticable for a particular prior period, or for periods before those presented, the circumstances that led to the existence of that condition and a description of how and from when the change in accounting policy has been applied. These disclosures need not be repeated in the nancial statements of subsequent periods. 8p30 3. If an entity has not applied a new relevant standard or interpretation that has been issued but is not yet effective, disclose: (a) the fact that the entity did not apply the new standard or interpretation that has been issued but is not yet effective; and (b) known or reasonably estimable information relevant to assessing the possible impact that application of the new standard or interpretation will have on the entitys nancial statements in the period of initial application. In complying with the previous paragraph, an entity should consider disclosing: (a) the title of the new standard or interpretation; (b) the nature of the impending change or changes in accounting policy; (c) the date by which application of the standard or interpretation is required; (d) the date as at which it plans to apply the standard or interpretation initially; and (e) either: (i) a discussion of the impact that initial application of the standard or interpretation is expected to have on the entitys nancial statements; or (ii) if that impact is not known or reasonably estimable, a statement to that effect. On a voluntary change in accounting policy, disclose: (a) the nature of the change in accounting policy; (b) the reasons why applying the new accounting policy provides reliable and more relevant information; (c) the amount of the adjustment for the current period and each prior period presented, to the extent practicable: (i) for each nancial statement line item affected; and (ii) if IAS 33 applies to the entity, the impact on basic and diluted earnings per share; (d) the amount of the adjustment relating to periods before those presented, to the extent practicable; and (e) if the retrospective application required is impracticable for a particular prior period, or for periods before those presented, the circumstances that led to the existence of that condition and a description of how and from when the change in accounting policy has been applied. These disclosures need not be repeated in the nancial statements of subsequent periods.
DV8p31
4.
8p29
5.
15
Sections A2-A3
Y-NA-NM
REF
IFRS6p13, 14
Exploration and evaluation expenditures: an entity may change its accounting policies for exploration and evaluation if the change makes the nancial statements more relevant to the economic decision-making needs of users and no less reliable, or more reliable and no less relevant to those needs. The criteria in IAS 8 should be followed for the change in the accounting policy.
A3 Income statement (and related notes)

Refer to the Appendix to IAS 1 for an example income statement. 1p81 1. The face of the income statement should include, as a minimum, line items that present the following amounts for the reporting and comparative periods: (a) revenue; (b) nance costs; (c) share of the prot or loss of associates and joint ventures accounted for using the equity method; (d) a single amount comprising the total of: (i) the post-tax prot or loss of discontinued operations; (ii) the post-tax gain or loss recognised on the remeasurement to fair value less costs to sell or on the disposal of the assets or disposal group(s) constituting the discontinued operations. (e) tax expense; and (f) prot or loss. The following items should be disclosed on the face of the income statement as allocations of prot or loss for the period: (a) prot or loss attributable to minority interest; and (b) prot or loss attributable to the parents equity holders. Refer to Section A9 for disclosures relating to discontinued operations.
1p82
2.
1p83
Additional line items, headings and sub-totals should be presented on the face of the income statement when such presentation is relevant to an understanding of the entitys nancial performance. All items of income and expense recognised in a period should be included in prot or loss unless a standard or interpretation requires otherwise. Items of income and expense should not be offset unless required or permitted by a standard or an interpretation. 3. Disclose, either on the face of the income statement, in the statement of changes in equity or in the notes, the amount of dividends recognised as distributions to equity holders during the period, and the related amount per share. Disclose the nature and amount of a change in an accounting estimate that has an effect in the current period or that is expected to have an effect in future periods. If it is impracticable to estimate the amount, disclose this fact.
1p78
1p32 1p95
8p39, 40
4.
16
Y-NA-NM
REF
34p26
5.
If an estimate of an amount reported in an interim period changes signicantly during the nal interim period of the nancial year but a separate nancial report is not published for that nal interim period, the nature and amount of that change in estimate should be disclosed in a note to the annual nancial statements for that nancial year. This is only applicable when the reporting entity publishes an interim nancial report prepared in accordance with IAS 34.
2. Individual items
1p29, 86 1p87 1. When a class of similar items of income and expense are material, their nature and amount should be disclosed separately. Refer to examples shown in IAS 1 para 87, including write-downs of assets and reversals of such write-downs, restructuring costs and disposals of property, plant and equipment. Disclose the amount of each signicant category of revenue recognised during the period, including revenue arising from: (a) the sale of goods; (b) the rendering of services; (c) interest; (d) royalties; and (e) dividends. Disclose the amount of non-cash revenue arising from exchanges of goods or services included in each signicant category of revenue. Disclose the accounting treatment applied to any fee received in an arrangement that has the legal form of a lease but that in substance does not involve a lease under IAS 17, the amount recognised as income in the period, and the line item of the income statement in which it is included (refer to Section A5.18(c)). Either on the face of the income statement (encouraged by IAS 1 para 89) or in the notes to the income statement, analyse the items below revenue using a classication based on either the nature of expense or their function within the entity (whichever is reliable and more relevant). Refer to paras 6, 7 and 8 below, and the Appendix to IAS 1. If analysed by nature of expenses, this may comprises: (a) other income; (b) changes in inventories of nished goods and work in progress; (c) raw materials and consumables used; (d) employee benet costs; (e) depreciation and amortisation expense; and (f) other expenses. If analysed by function of expenses, this may comprises: (a) cost of sales; (b) gross prot; (c) other income; (d) distribution costs; (e) administrative expenses; and (f) other expenses. Entities classifying expenses by function should disclose additional information on the nature of expenses.
18p35(b)
2.
18p35(c)
3.
SIC27p10(b) 4.
1p88
5.
1p91
6.
1p92
7.
1p93
8.
17
Section A3
Y-NA-NM
REF
9.
Such information should include: (a) depreciation and amortisation expense; and (b) employee benets costs.
10. Employee benets disclose: (a) the expense for dened contribution plans; (b) for dened benet plans the total expense for each of the following, and the line item(s) of the income statement in which they are included: (i) current service cost; (ii) interest cost; (iii) expected return on plan assets; (iv) expected return on any reimbursement right recognised as an asset; (v) actuarial gains and losses; (vi) past service cost; and (vii) the effect of any curtailment or settlement; 19p120A(m) (c) for dened benet plans: (i) the actual return on plan assets; and (ii) the actual return on any reimbursement right recognised as an asset; 19p131 (d) the expense resulting from other long-term employee benets, if signicant; and 19p142 (e) the expense resulting from termination benets, if signicant. 19p46 19p120A(g) 38p126 21p52(a) 11. Disclose research and development expenditure recognised as an expense during the period. 12. Disclose the amount of foreign exchange differences recognised in prot or loss except for those arising on nancial instruments measured at fair value through prot or loss in accordance with IAS 39.
36p126(a)(b) 13. Disclose for each class of assets the following amounts recognised during the period, and the line item(s) of the income statement in which they are included: (a) impairment losses; and (b) reversals of impairment losses. 14. Disclose the following amounts recognised during the period and the line item(s) of the income statement in which they are included: 38p118(d) (a) amortisation of intangible assets (by each class); and IFRS3p67(g) (b) excess of acquirers interest in the net fair value of acquirees assets, liabilities and contingent liabilities over cost recognised as income. 40p75(f) 15. Investment property disclose: (a) rental income; (b) direct operating expenses including repairs and maintenance arising from investment property that generated rental income during the period; (c) direct operating expenses including repairs and maintenance arising from investment property that did not generate rental income during the period; and (d) the cumulative change in fair value recognised in prot or loss on a sale of investment property from a pool of assets in which the cost model is used into a pool in which the fair value model is used;
40p32C
18
Y-NA-NM
REF
IFRS7p20
16. Disclose the following material items resulting from nancial assets and nancial liabilities: (a) income; (b) expense; (c) gains; and (d) losses. 17. The disclosures in para 16 above should include the following: (a) net gains or losses on: (i) nancial assets or nancial liabilities at fair value through prot or loss, showing separately those on nancial assets or nancial liabilities designated as such upon initial recognition, and those on nancial assets or liabilities that are classied as held for trading in accordance with IAS 39; (ii) available-for-sale nancial assets, showing separately the amount of gain or loss recognised directly in equity during the period, and the amount removed from equity and recognised in prot or loss for the period; (iii) held-to-maturity investments; (iv) loans and receivables; and (v) nancial liabilities measured at amortised cost; (b) total interest income and total interest expense (calculated using the effective interest method) for nancial assets or liabilities that are not at fair value through prot or loss; (c) fee income and expense (other than amounts included in determining the effective interest rate) arising from: (i) nancial assets and liabilities that are not at fair value through prot or loss; and (ii) trust and other duciary activities that result in the holding or investing of assets on behalf of individuals, trusts, retirement benet plans and other institutions; (d) interest income on impaired nancial assets; and (e) the amount of any impairment loss for each class of nancial asset.
IFRS7p20
3. Income tax
12p79 12p81(c) 1. 2. Disclose the major components of tax expense (income). IAS 12 para 80 gives examples of the major components of tax expense (income). Provide an explanation of the relationship between tax expense (income) and accounting prot in either of the following forms: (a) numerical reconciliation between tax expense (income) and product of accounting prot, multiplied by the applicable tax rate(s), disclosing also the basis on which the applicable tax rate(s) is (are) computed (refer to IAS 12 para 85); or (b) a numerical reconciliation between the average effective tax rate and the applicable tax rate, disclosing also the basis on which the applicable tax rate is computed (refer to IAS 12 para 85). Provide an explanation of changes in the applicable tax rate(s) compared to the previous period.
12p81(d)
3.
4. Extraordinary items
1p85 1. Items of income and expense should not be presented as extraordinary items anywhere, either on the face of the income statement nor in the notes.
19
Section A4
Y-NA-NM
REF
A4 Statement of changes in shareholders equity (and related notes)

1p8(c) 1. Present as a primary nancial statement: (a) a statement of all changes in equity; or (b) a statement of recognised income and expense. Refer to the examples of these statements in the Appendix to IAS 1. 19p93B 2. The statement of recognised income and expense (and not a statement of all changes in equity) should be presented as a primary nancial statement (refer to (2) Statement of recognised income and expense on following page) if the option permitted by IAS 19 (amended 2004) para 93A to recognise actuarial gains and losses outside of prot or loss has been adopted.
1. Statement of changes in equity

1. 1p96(a) 1p96(b) The statement of changes in equity should disclose the following: (a) prot or loss for the period; (b) each item of income and expense for the period that is recognised directly in equity, as required by other standards and interpretations, and the total of these items (for example, revaluation of certain non-current assets, fair value adjustments on certain hedging instruments, currency translation differences, revaluations of available-for-sale investments); (c) total income and expense for the period (calculated as the sum of (a) and (b) above), showing separately the total amounts attributable to the parents equity holders and to minority interest; (d) for each component of equity, the effects of changes in accounting policies and corrections of errors recognised in accordance with IAS 8; (e) transactions with equity holders: (i) issue of share capital; (ii) purchase of own shares; and (iii) contracts that will be settled by the entity (receiving or) delivering a xed number of its own equity instruments in exchange for a xed amount of cash or another nancial asset; (f) transaction costs, relating to issue of share capital, deducted from shareholders equity; (g) distributions to owners (for example, dividends); (h) a reconciliation between the carrying amount at the beginning and end of the period for the following items (separately disclosing each movement): (i) each class of share capital; (ii) share premium; (iii) own shares (treasury shares); (iv) each reserve in shareholders equity, including the following: revaluation reserve for property, plant and equipment; revaluation reserve for intangible assets; revaluation reserve for available-for-sale nancial assets; hedging reserve for cash ow hedges; foreign exchange translation reserve;
1p96(c)
1p96(d)
1p97(a) 32p34 32p22
32p35 32p22 1p97(a) 1p97(c) 32p35
32p34 16p77(f) 38p124(b) IFRS7p20 IFRS7p23 21p52(b)
20
Y-NA-NM
REF
12p81(a) IFRS2p50 1p97(b) 32p28 IFRIC1p6(d) 2.
current or deferred tax on items taken directly to or transferred from equity; equity-settled share-based payment transactions; and (v) retained earnings; and (i) the equity conversion element of convertible debt. The change in the revaluation surplus arising from a change in the existing decommissioning, restoration and similar liabilities should be separately identied and disclosed.
2. Statement of recognised income and expense

1. 1p96(a) 1p96(b) Statement of recognised income and expense comprises: (a) prot or loss for the period; (b) each item of income and expense for the period that, as required by the standards and interpretations, is recognised directly in equity, and the total of these items (for example, revaluation of certain non-current assets, fair value adjustments on certain hedging instruments, and currency translation differences); (c) total income and expense for the period (calculated as the sum of (a) and (b) above), showing separately the total amounts attributable to the parents equity holders and to minority interest; and (d) for each component of equity, the effects of changes in accounting policies and corrections of errors recognised in accordance with IAS 8. If a statement of recognised income and expense is prepared, disclose the following items in the notes: (a) capital transactions with owners: (i) issue of share capital to equity holders; and (ii) purchase of own shares from equity holders; (iii) contracts that will be settled by the entity (receiving or) delivering a xed number of its own equity instruments in exchange for a xed amount of cash or another nancial asset; (b) transaction costs (relating to issue of share capital) deducted from equity; (c) distributions to owners (for example, dividends); (d) a reconciliation between the carrying amount at the beginning and end of the period for the following items (separately disclosing each movement): (i) each class of equity capital; (ii) share premium; (iii) own shares (treasury shares); (iv) each reserve in shareholders equity, including the following: revaluation reserve for property, plant and equipment; revaluation reserve for intangible assets; revaluation reserve for available-for-sale nancial assets; hedging reserve for cash ow hedges; foreign exchange translation reserve; current or deferred tax on items taken directly to or transferred from equity; equity-settled share-based payment transactions; (v) retained earnings; and (e) the equity conversion element of a convertible debt.
1p96(c)
1p96(d)
2. 1p97(a) 32p34 32p22
32p35 1p97(a) 1p97(c)
32p34 16p77(f) 38p124(b) IFRS7p20 IFRS7p23 21p52(b) 12p81(a) IFRS2p50 1p97(b) 32p28
21

22
Section A4
Y-NA-NM
REF
These disclosures apply irrespective of whether the entity presented a statement of changes in equity or a statement of recognised income or expense. 1p76(b) 16p77(f) 38p124(b) 1. A description of the nature and purpose of each reserve within shareholders equity, including restrictions on the distribution of the revaluation reserves (this usually includes details of any restrictions on distributions for each reserve in shareholders equity, although it is not specied in IAS 1). The aggregate current and deferred tax relating to items charged or credited to equity. It is useful to disclose the analysis by category of temporary differences. The amount of impairment losses and the amount of reversals of impairment losses, recognised directly in equity during the period, for each class of assets. Disclose the following for each class of share capital either on the face of the balance sheet or in the notes (this information is usually disclosed in the notes): (a) the number of shares authorised; (b) the number of shares issued and fully paid, and issued but not fully paid; (c) par value per share, or that the shares have no par value; (d) a reconciliation of the number of shares outstanding at the beginning and end of the year; (e) the rights, preferences and restrictions attached to each class of share capital, including restrictions on the distribution of dividends and the repayment of capital; (f) shares in the entity held by the entity itself or by the entitys subsidiaries or associates; and (g) shares reserved for issuance under options and sales contracts, including the terms and amounts. Certain types of preference shares must be classied as liabilities (not in equity). Refer to IAS 32 para 18(a). When a change in the redemption prohibition leads to a transfer between nancial liabilities and equity, the entity should disclose separately the amount, timing and reason for the transfer. An entity without share capital, such as a partnership, should disclose information equivalent to that required in para 4 above, showing movements during the period in each category of equity interest and the rights, preferences and restrictions attached to each category of equity interest. Disclose the amount of dividends proposed or declared before the nancial statements were authorised for issue but not recognised as a distribution to equity holders during the period, and the related amount per share. Disclose the amount of any cumulative preference dividends not recognised.
12p81(a)
2.
36p126(c) 36p126(d) 1p76(a)
3.
4.
32p15,18,20 5. 32AG25,26 IFRIC2p13 6.
1p77
7.
10p12 1p125(a)
8.
1p125(b) IFRS5p38
9.
10. Any cumulative income or expense recognised directly in equity in relation to a non-current asset (or disposal group) classied as held for sale.
Y-NA-NM
REF
A5 Balance sheet (and related notes)

Refer to the Appendix to IAS 1 for an example balance sheet. 1p68 1. The face of the balance sheet should include the following line items, as a minimum: (a) property, plant and equipment; (b) investment property; (c) intangible assets; (d) nancial assets for example, investments (excluding amounts shown under (e), (h) and (i)) (e) investments accounted for using the equity method; (f) biological assets; (g) inventories; (h) trade and other receivables; (i) cash and cash equivalents; (j) trade and other payables; (k) provisions; (l) nancial liabilities (excluding amounts shown under (j) and (k)); (m) liabilities and assets for current tax, as dened in IAS 12; (n) deferred tax liabilities and deferred tax assets, as dened in IAS 12; (o) minority interest (presented within equity); and (p) issued capital and reserves attributable to equity holders of the parent (for example, ordinary shares, share premium, treasury shares, fair value reserves, translation differences and retained earnings).
1p69
Additional line items, headings and subtotals should be presented on the face of the balance sheet when such presentation is relevant to an understanding of the entitys nancial position. Refer to Section A9 for disclosures relating to discontinued operations.
1p71 1p32 1p74
IAS 1 does not prescribe the order or format for presenting balance sheet items. Assets and liabilities should not be offset unless required or permitted by a standard or interpretation. 2. Disclose further sub-classications of the line items presented, classied in a manner appropriate to the entitys operations, either on the face of the balance sheet or in the notes to the balance sheet. Refer to IAS 1 para 75 for examples. Is the current/non-current distinction of assets and liabilities made on the face of the balance sheet? (a) Yes ensure that classication rules in IAS 1 paras 57-67 are applied; (b) No in this exception, ensure that a presentation based on liquidity provides information that is reliable and more relevant. Ensure also that assets and liabilities are presented broadly in order of their liquidity. Whichever method of presentation in para 3 above is applied, disclose the non-current portion (the amount expected to be recovered or settled after more than 12 months) for each asset and liability item that combines current and non-current amounts.
1p51
3.
1p52
4.
23
Section A5
Y-NA-NM
REF
2. Measurement uncertainty
1p116 1. The notes should include information about the key assumptions concerning the future, and other key sources of estimation uncertainty at the balance sheet date, that have a signicant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next nancial year. The notes should include details of: (a) the nature of these assets and liabilities; and (b) their carrying amount as at the balance sheet date. For each class of provision, provide: (a) a brief description of the nature of the obligation and of the expected timing of any resulting outows of economic benets; (b) an indication of the uncertainties about the amount or timing of those outows (where necessary to provide adequate information, disclose the major assumptions made concerning future events, as addressed in IAS 37 para 48); and (c) the amount of any expected reimbursement, stating the amount of any asset that has been recognised for that expected reimbursement. If an estimate of an amount reported in an interim period for example, a provision is changed signicantly during the nal interim period of the nancial year but a separate nancial report is not published for that nal interim period, the nature and amount of that change in estimate should be disclosed in a note to the annual nancial statements for that nancial year.
37p85
2.
34p26
3.
This item is applicable only when the reporting entity publishes an interim nancial report prepared in accordance with IAS 34. 4. Note that certain standards require further specic disclosures about sources of estimation uncertainty and judgements. The specic disclosure requirements in the other sections of this disclosure checklist include: (a) Methods and assumptions applied in determining fair values for: (i) investment property (Section A2.2, para 6); (ii) property, plant and equipment (Section A5.3, para 3(c) and 3(d)); (iii) intangible assets (Section A5.5, para 5); (iv) impairment of assets basis and key assumptions for determining impairment losses or reversals (Section A5.7, paras 1 and 4); (v) business combinations basis for determining impairment losses or reversals (Section A7.1 para 1(e)) and adjustments made to provisional values (Section A7.1 para 6); (vi) nancial instruments (Section A8); (vii) share-based payments (Section B7, paras 2 to 5); and (viii) agricultural produce and biological assets (Section C2.1 para 4). (b) Nature, timing and certainty of cash ows relating to the following: (i) contingencies (Section A5.23); (ii) nancial instruments terms and conditions that may affect the amount, timing and certainty of future cash ows;
40p75(c-e) 16p77(c) (d) 38p124(c) 36p130, 131, 133, 134 IFRS3p67(d), 73
IFRS7p27 IFRS2p46 41p47
37p86 IFRS7p31
24
Y-NA-NM
REF
SIC 29p6-7
IFRS4p37
36p130, 131, 133, 134
19p120A(u) IFRS4p37
26p35
(iii) public service concession arrangements terms and conditions that may affect the amount, timing and certainty of future cash ows (Section C3); and (iv) insurance information about nature, timing and uncertainty of future cash ows from insurance contracts (Section E, para 2). (c) Other relevant disclosures: (i) impairment of assets key assumptions for cash ow projections, periods covered by projections, growth rates for extrapolations and discount rates in determining value in use (Section A5.7, paras 1 and 4); (ii) post-employment dened benet plans principal actuarial assumptions (Section A5.17, paras 14 and 15). (iii) insurance process used to determine assumptions that have the greatest effect on the measurement of recognised assets, liabilities, income and exposes from insurance contracts. When practicable, an insurer should also give quantied disclosure of those assumptions; and (iv) retirement benet plan entities actuarial assumptions (Section F).
3. Property, plant and equipment

17p32, 57 The disclosure requirements of IAS 16 apply to owned assets and to the amounts of leased assets held under nance leases in the lessees accounts. 1. Disclose the gross carrying amount and the accumulated depreciation (including accumulated impairment losses) for each class of property, plant and equipment (PPE), at the beginning and end of each period presented. Provide a reconciliation of the carrying amount for each class of PPE at the beginning and end of each period presented showing: (a) additions; (b) assets classied as held for sale under IFRS 5 and other disposals; (c) acquisitions through business combinations; (d) increases or decreases during the period that result from revaluations and impairment losses recognised or reversed directly in equity under IAS 36; (e) impairment losses recognised during the period; (f) impairment losses reversed during the period; (g) depreciation; (h) net exchange differences on the translation of nancial statements into a different presentation currency and on translation of a foreign operation into the presentation currency of the reporting entity; and (i) other movements. It is also common practice to disclose transfers between classes of PPE (for example, from PPE under construction to land and buildings). Comparative information for these items is required.
16p73(d)
16p73(e)
2.
1p36
25
Section A5
Y-NA-NM
REF
16p77
3.
For PPE stated at revalued amounts, disclose: (a) the effective date of the revaluation; (b) whether an independent valuer was involved; (c) the methods and signicant assumptions applied in estimating the items fair values; (d) the extent to which the items fair values were determined directly by reference to observable prices in an active market or recent market transactions on arms length terms, or the extent to which they were estimated using other valuation techniques; and (e) for each revalued class of PPE, the carrying amount that would have been recognised had the assets been carried under the cost model. Refer also to the disclosures on revaluation surplus in Section A4.
16p74(a) 16p74(a) 16p74(b) 16p74(d)
4. 5. 6. 7.
Disclose the existence and amounts of PPE whose title is restricted. Disclose the amounts of PPE pledged as security for liabilities. Disclose the amount of expenditures on account of PPE in the course of construction. If it is not disclosed separately on the face of the income statement, disclose the amount of compensation from third parties for items of PPE that were impaired, lost or given up and that is included in prot or loss. Borrowing costs. Disclose: (a) the amount of borrowing costs capitalised during the period; and (b) the capitalisation rate used to determine the amount of borrowing costs eligible for capitalisation. Provide the net carrying amount for each class of assets held under nance leases.
8. 23p29(b) 23p29(c) 17p31(a) DV16p79 9.
10. Voluntary disclosures: (a) the carrying amount of temporarily idle PPE; (b) the gross carrying amount of any fully depreciated PPE that is still in use; (c) the carrying amount of PPE retired from active use and not classied as held for sale under IFRS 5; and (d) when PPE is carried at cost less depreciation, the fair value of PPE if this is materially different from the carrying amount. 11. Exploration and evaluation assets. An entity should treat these assets as a separate class of assets and make the disclosure required by IAS 16 if they are classied as items of property, plant and equipment.
IFRS6p25
4. Investment property
The disclosures below apply in addition to those in IAS 17. In accordance with IAS 17, the owner of an investment property provides lessors disclosures about leases into which it has entered. An entity that holds an investment property under a nance or operating lease provides lessees disclosures for nance leases and lessors disclosures for any operating leases into which it has entered.
26
Y-NA-NM
REF
40p76, 79(d) 1.
Provide a reconciliation of the carrying amount of investment property at the beginning and end of each period presented, showing separately those carried at fair value and those measured at cost because the fair value cannot be determined reliably: (a) additions; disclosing separately those additions resulting from acquisitions and those resulting from subsequent expenditure recognised in the carrying amount of the asset; (b) additions resulting from acquisitions through business combinations; (c) assets classied as held for sale or included in a disposal group classied as held for sale in accordance with IFRS 5 and other disposals; (d) the net gains or losses from fair value adjustments (where the fair value model in IAS 40 is used); (e) net exchange differences arising on the translation of the nancial statements into a different presentation currency and on translation of a foreign operation into the presentation currency of the reporting entity; (f) transfers to and from inventories; and owner-occupied property; and (g) other changes. If there has been no valuation by an independent professionally qualied valuer, disclose the fact. If the fair value model is used, but certain investment properties are carried under the IAS 16 cost model because of the lack of a reliable fair value, provide: (a) a description of the investment property; (b) an explanation of why fair value cannot be reliably measured; (c) the range of estimates within which fair value is highly likely to lie; and (d) if the entity disposes of investment property whose fair value previously could not be measured reliably, disclose: (i) that the entity has disposed of the investment property not carried at fair value; (ii) the carrying amount of that investment property at the time of sale; and (iii) the gain or loss on disposal. Disclose the existence and amounts of restrictions on the realisability of investment property or the remittance of income and proceeds of disposal. If an entity uses the cost model, disclose in addition to para 1 above: (a) depreciation methods used; (b) the useful lives or the depreciation rates used; and (c) the gross carrying amount and the accumulated depreciation (aggregated with accumulated impairment losses): (i) at the beginning of the period; and (ii) at the end of the period; (d) a reconciliation of the carrying amount at the beginning and end of the period of: (i) depreciation; (ii) the amount of impairment losses recognised, and the amount of impairment losses reversed, during the period in accordance with IAS 36;
40p75(e) 40p78
2. 3.
40p75(g)
4.
5. 40p79(a) 40p79(b) 40p79(c)
40p79(d)
27
Section A5
Y-NA-NM
REF
40p79(e)
(iii) the net exchange differences arising on the translation of the nancial statements into a different presentation currency, and on translation of a foreign operation into the presentation currency of the reporting entity; and (e) the fair value of investment property. When an entity cannot reliably determine the fair value of the investment property, disclose: (i) a description of the investment property; (ii) an explanation of why fair value cannot be reliably measured; and (iii) the range of estimates within which fair value is highly likely to lie. 6. When a valuation obtained for investment property is adjusted signicantly for the purpose of the nancial statements (for example, to avoid double-counting of assets or liabilities that are recognised as separate assets and liabilities as described in IAS 40 para 50), disclose: (a) a reconciliation between the valuation obtained and the adjusted valuation included in the nancial statements; and (b) separately, in the reconciliation: (i) the aggregate amount of any recognised lease obligations that have been added back; and (ii) any other signicant adjustments.
40p77
5. Intangible assets (excluding goodwill)

17p32, 57 The disclosure requirements of IAS 38 apply to owned intangible assets and to the amounts of leased intangible assets held under nancial leases in the lessees accounts. 1. Provide a reconciliation of the carrying amount in respect of each class of intangible asset, distinguishing between: (a) internally generated intangible assets; and (b) other intangible assets. The reconciliation should show the following: (a) gross carrying amount and accumulated amortisation (including accumulated impairment losses) at the beginning of the period; (b) additions (indicating separately those from internal development, those acquired separately, and those acquired through business combinations); (c) assets classied as held for sale or included in a disposal group classied as held for sale (in accordance with IFRS 5) and other disposals; (d) increases or decreases resulting from revaluations; (e) impairment losses recognised during the period; (f) impairment losses reversed during the period; (g) amortisation recognised during the period; (h) exchange differences from the translation of the nancial statements into a presentation currency that is different to the entitys functional currency and from the translation of a foreign operation into the entitys presentation currency; (i) other movements; and (j) the gross carrying amount and accumulated amortisation (including accumulated impairment losses) at the end of the period.
38p118 38p118(e)
38p118(c)
28
Y-NA-NM
REF
1p36 38p122(a) 2.
IAS 38 para 119 gives examples of separate classes of intangible assets. Comparative information for these items is required. For intangible assets with indenite useful lives, disclose: (a) the carrying amount; and (b) the reasons supporting the assessment of an indenite useful life. Provide the following for any individual intangible asset that is material to the nancial statements of the entity as a whole: (a) a description of the asset; (b) its carrying amount; and (c) remaining amortisation period. For intangible assets carried at revalued amounts, disclose for each class of intangible assets: (a) the effective date of the revaluation; (b) the carrying amount of revalued intangible assets; and (c) the carrying amount that would have been included in the nancial statements had the cost model been used (as if the assets had been carried at cost less accumulated depreciation and accumulated impairment losses). Disclose the method and signicant assumptions applied in estimating the fair values of the intangible assets. Disclose: (a) the existence and amounts of intangible assets whose title is restricted; and (b) the amounts of intangible assets pledged as security for liabilities. For intangible assets acquired through a government grant and initially recognised at fair value (refer to IAS 38 para 44), disclose: (a) the fair value initially recognised for these assets; (b) their carrying amount; and (c) whether they are carried at cost less depreciation or at revalued amounts. Voluntary disclosures: (a) fully amortised intangible assets that are still in use; and (b) details of signicant intangible assets controlled by the entity but not recognised as assets because they did not meet the recognition criteria in IAS 38 or because they were acquired or generated before IAS 38 became effective. Exploration and evaluation assets an entity should treat these assets as a separate class of assets and make the disclosures required by IAS 38 if they are classied as intangible assets.
38p122(b)
3.
38p124(a)
4.
38p124(c) 38p122(d)
5. 6.
38p122(c)
7.
DV38p128
8.
IFRS6p25
9.
6. Goodwill and negative goodwill 1

IFRS3p75 1. Provide a reconciliation of the carrying amount of goodwill, showing: (a) gross carrying amount and accumulated impairment losses at the beginning of the period; (b) additions; (c) adjustments resulting from the subsequent recognition of deferred tax assets during the period in accordance with IFRS 3 para 65;
1 The IASB no longer uses the term negative goodwill. The ofcial term is excess of acquirers interest in the net fair value of acquirees identiable assets, liabilities and contingent liabilities over cost. The term negative goodwill is used in this publication in the interest of brevity.
29

30
Section A5
Y-NA-NM
REF
(d) (e) (f) (g) (h) 1p36 IFRS3p77 2.
disposals; impairment losses recognised during the period; net exchange differences arising during the period; other changes during the period; and gross carrying amount and accumulated impairment losses at the end of the period.
Comparative information for these items is required. If the information that is required to be disclosed by IFRS 3 does not disclose enough information to enable users to evaluate the nature and nancial effect of a business combination, disclose such additional information as is necessary to meet that objective.
7. Impairment of assets
17p32, 57 The disclosure requirements of IAS 36 apply to owned assets and to the amounts of leased assets held under nance leases in the lessees accounts. 1. Where an impairment loss, recognised or reversed for an individual asset or cash-generating unit (CGU) during the period, is material to the nancial statements of the reporting entity, the entity is required to disclose: (a) the events and circumstances that led to the recognition or reversal of the impairment loss; (b) the amount of the impairment loss recognised or reversed; (c) for an individual asset: (i) the nature of the asset; and (ii) the segment to which the asset belongs (based on primary format) (refer to Section D1); (d) for a CGU: (i) a description of the CGU (such as whether it is a product line, a plant, a business operation, a geographical area, or a reportable segment as dened in IAS 14) (refer to Section D1); (ii) the amount of the impairment loss recognised or reversed: by class of assets; and by reportable segment based on the entitys primary format (refer to Section D1); and (iii) if the aggregation of assets for identifying the CGU has changed since the previous estimate of the CGUs recoverable amount, the entity should describe the current and former method of aggregating assets and the reasons for changing the way the CGU is identied; (e) whether the recoverable amount of the asset or CGU is its fair value less costs to sell or its value in use; (f) the basis used to determine fair value less costs to sell if the recoverable amount is the fair value less costs to sell (for example, whether it was determined by reference to an active market or in some other way); and (g) if the recoverable amount is value in use, the discount rates used in current estimate and previous estimate (if any) of value in use. The disclosures in this section relating to segments are applicable to entities that apply IAS 14 refer to Section D1.
36p130
Y-NA-NM
REF
36p131
2.
Disclose the following information for the aggregate impairment losses and the aggregate reversals of impairment losses recognised during the period for impairment losses or reversals that are not individually material: (a) the main classes of assets affected by impairment losses (or reversals of impairment losses); and (b) the main events and circumstances that led to the recognition (reversal) of these impairment losses. If any portion of the goodwill acquired in a business combination during the reporting period has not been allocated to a CGU at the reporting date the entity should: (a) disclose the amount of the unallocated goodwill; and (b) disclose the reasons why that amount remains unallocated. Where the carrying amount of goodwill or intangible assets with indenite useful lives allocated to a CGU (or group of CGUs) is signicant in comparison to the total carrying amount of goodwill or intangible assets with indenite useful lives, the entity should disclose the following for each CGU (or group of CGUs): (a) the carrying amount of allocated goodwill; (b) the carrying amount of intangible assets with indenite useful lives; (c) the basis on which the recoverable amounts of the CGUs (group of CGUs) have been determined (value in use or fair value less cost to sell); (d) if the recoverable amounts of the CGUs are based on value in use: (i) a description of each key assumption on which management has based its cash ow projections for the period covered by the most recent budgets/forecasts (key assumptions are those to which the recoverable amounts of the CGUs are most sensitive); (ii) a description of managements approach to determining the values assigned to each key assumption, whether those values reect past experience and/or are consistent with external sources of information, if appropriate. If not, disclose how and why they differ from past experience and/or external sources of information; (iii) the period over which management has projected cash ows based on nancial budgets/forecasts approved by management and, when a period greater than ve years is used for a CGU (or group of CGUs), an explanation of why that longer period is justied; (iv) the growth rate used to extrapolate cash ow projections beyond the period covered by the most recent budgets/forecasts, and the justication for using any growth rate that exceeds the long-term average growth rate for the products, industries, or country or countries in which the entity operates, or for the market to which the CGU is dedicated; and (v) the discount rate(s) applied to the cash ow projections;
36p133
3.
36p134
4.
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(e) if the CGUs recoverable amounts are based on the fair value less cost to sell, disclose the methodology used to determine the fair value less cost to sell. If fair value less cost to sell is not determined using observable market prices for the CGUs, the following information should also be disclosed: (i) a description of each key assumption on which management has based its determination of fair value less cost to sell (key assumptions are those to which the recoverable amounts of the CGUs are most sensitive); and (ii) a description of managements approach to determining the values assigned to each key assumption, whether those values reect past experience and/or, if appropriate, are consistent with external sources of information, and if not, how and why they differ from past experience and/or external sources of information; and (f) if a reasonably possible change in a key assumption on which management has based its determination of the CGUs recoverable amount would cause the CGUs carrying amount to exceed its recoverable amount: (i) the amount by which the aggregate of the CGUs recoverable amounts exceeds the aggregate of their carrying amounts; (ii) the value assigned to the key assumptions; and (iii) the amount by which the value assigned to the key assumption must change, after incorporating any consequential effects of that change on the other variables used to measure recoverable amount, in order for the CGUs recoverable amount to be equal to its carrying amount. 36p135 5. If some or all of the carrying amount of goodwill or intangible assets with indenite lives is allocated across multiple CGUs (or groups of CGUs) and the amount allocated to each CGU (or group of CGUs) is not individually signicant, that fact should be disclosed, together with the aggregate carrying amount of goodwill or intangible assets with indenite lives allocated to those CGUs (or group of CGUs). If the recoverable amounts of any of those CGUs (or group of CGUs) are based on the same key assumptions, and the aggregate carrying amounts of goodwill or intangible assets with indenite lives allocated to them is signicant, an entity should disclose that fact, together with: (a) the aggregate carrying amount of goodwill allocated to those CGUs (or groups of CGUs); (b) the aggregate carrying amount of intangible assets with indenite useful lives allocated to those CGUs (or group of CGUs); (c) a description of the key assumption(s); (d) a description of managements approach to determining the values assigned to each key assumption, whether those values reect past experience and/or, if appropriate, whether they are consistent with external sources of information. If not, disclose how and why they differ from past experience and/or external sources of information; and (e) if a reasonably possible change in the key assumptions would cause the CGUs (or group of CGUs) carrying amount to exceed its recoverable amount: (i) the amount by which the aggregate of the recoverable amounts of the CGUs exceeds the aggregate of their carrying amounts;
36p135
6.
Y-NA-NM
REF
(ii) the value assigned to the key assumptions; and (iii) the amount by which the value assigned to the key assumption must change, after incorporating any effects of that change in the other variables used to measure the recoverable amount, in order for the CGUs (or group of CGUs) recoverable amount to be equal to their carrying amount. 36p136 7. If the most recent detailed calculation of the recoverable amount of a CGU made in a preceding period is carried forward and used in the impairment test for that unit in the current period, the disclosures required in paras 5 and 6 above relate to the carried forward calculation of recoverable amount.
8. Associates
28p38 1. Associates accounted for using the equity method. Disclose: (a) associates as a separate item under non-current assets; (b) the investors share of the prot or loss of associates; and (c) separately, the investors share of any discontinued operations of associates. The following disclosures should be made: (a) the fair value of investments in associates (individually) for which there are published price quotations; (b) summarised nancial information of associates (individually for each signicant associate), including the aggregated amounts of assets, liabilities, revenues and prot or loss; (c) the reasons why the presumption that an investor does not have signicant inuence is overcome if the investor holds, directly or indirectly through subsidiaries, less than 20% of the voting or potential voting power of the investee but concludes that it has signicant inuence; (d) the reasons why the presumption that an investor has signicant inuence is overcome if the investor holds, directly or indirectly through subsidiaries, 20% or more of the voting or potential voting power of the investee but concludes that it does not have signicant inuence; (e) the reporting date of an associates nancial statements, when it is different from that of the investor, and the reason for using a different reporting date; (f) the nature and extent of any signicant restrictions (for example, resulting from borrowing arrangements or regulatory requirements) on associates ability to transfer funds to the investor in the form of cash dividends, or repayment of loans or advances; (g) the unrecognised share of an associates losses, both for the period and cumulatively, if an investor has discontinued recognition of its share of an associates losses; (h) the fact that an associate is not accounted for using the equity method, in accordance with IAS 28 para 13; and (i) summarised nancial information of associates, either individually or in groups, that are not accounted for using the equity method, including the amounts of total assets, total liabilities, revenues and prot or loss.
28p37
2.
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28p39
3.
The investors share of changes recognised directly in the associates equity should be recognised directly in equity by the investor and should be disclosed in the statement of changes in equity, as required by IAS 1. In accordance with IAS 37, disclose: (a) the investors share of an associates contingent liabilities incurred jointly with other investors; and (b) those contingent liabilities that arise because the investor is liable for all or part of the liabilities of the associate.
28p40
4.
9. Joint ventures
31p56 1. A venturer should disclose: (a) a listing and description of interests in signicant joint ventures and the proportion of ownership interest held in jointly controlled entities; and (b) the aggregate amounts of each of current assets, long-term assets, current liabilities, long-term liabilities, income and expenses related to its interests in joint ventures. Disclose separately from other contingent liabilities: (a) any contingent liabilities that the venturer has incurred in relation to its interests in joint ventures and its share in each of the contingent liabilities that have been incurred jointly with other venturers; (b) its share of the contingent liabilities of the joint ventures themselves for which it is contingently liable; and (c) the contingent liabilities that arise because the venturer is contingently liable for the liabilities of the other venturers of a joint venture. Disclose separately from other commitments the aggregate of: (a) any capital commitments of the venturer in relation to its interests in joint ventures and its share in the capital commitments that have been incurred jointly with other venturers; and (b) its share of the capital commitments of the joint ventures themselves.
31p54
2.
31p55
3.
10. Subsidiaries
27p40 1. In consolidated nancial statements, disclose: (a) the nature of the relationship between the parent and a subsidiary when the parent does not own, directly or indirectly through subsidiaries, more than half of the voting power; (b) the reasons why the ownership, held directly or indirectly through subsidiaries, of more than half of the voting or potential voting power of an investee does not constitute control; (c) the reporting date of a subsidiarys nancial statements when it is different from that of the parent, and the reason for using a different reporting date or period; and (d) the nature and extent of any signicant restrictions (for example, resulting from borrowing arrangements or regulatory requirements) on the ability of subsidiaries to transfer funds to the parent in the form of cash dividends or to repay loans or advances.
34
Y-NA-NM
REF
27p42
2.
When a parent (other than a parent covered by IAS 27 para 41 see Section B6.1), venturer with an interest in a jointly controlled entity or an investor in an associate prepares separate nancial statements, disclose: (a) the fact that the statements are separate nancial statements and the reasons why those statements are prepared if not required by law; (b) a list of signicant investments in subsidiaries, jointly controlled entities and associates, including: (i) the name; (ii) country of incorporation or residence; (iii) proportion of ownership interest; and (iv) if different, proportion of voting power held; and (c) a description of the method used to account for the investments listed under (b).
The entity should identify the consolidated nancial statements prepared in accordance with IAS 27 para 9, IAS 28 and IAS 31 to which the separate nancial statements relate.
11. Investments nancial assets

39p9 1. Under IAS 39 nancial assets are classied into: (a) held at fair value through prot or loss (including trading); (b) held-to-maturity; (c) loans and receivables; and (d) available-for-sale. Although not required by IAS 39, it is useful to disclose a reconciliation of the carrying amount of nancial assets at the beginning and end of the period showing movements, impairment losses and exchange differences arising on translation of the nancial statements of a foreign entity when investments are signicant. For available-for-sale nancial assets, disclose: (a) the amount of any gain or loss that was recognised in equity during the current period; and (b) the amount that was removed from equity and reported in net prot or loss for the period. If the entity has reclassied a nancial asset as one required to be measured at cost or amortised cost rather than at fair value, disclose the reason for the reclassication (refer to IAS 39 para 54). For all transfers that involve collateral, if the transferee has the right by contract or custom to sell or repledge the collateral, the transferor should reclassify that asset in its balance sheet separately from other assets.
2.
IFRS7p20 (a)(ii)
3.
IFRS7p12
4.
39p37(a)
12. Inventory
2p36(b) 1. 2p37,1p75(c) Disclose the carrying amount of inventories in total, sub-classied by main categories appropriate to the entity. For example: merchandise, production supplies, materials, work in progress, and nished goods. Disclose the carrying amount of inventories carried at fair value less costs to sell.
2p36(c)
2.
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2p36(d)(e) 2p36(f)(g)
3. 4.
Disclose the amount of inventories and the amount of write-down recognised as expenses during the period. Disclose the amount of, and circumstances or events leading to, the reversal of any write-down that is recognised as a reduction in the amount of inventories recognised as expense in the period. Disclose the carrying amount of inventories pledged as security for liabilities. Where inventories combine current and non-current amounts, disclose the amount of the non-current portion that is expected to be recovered or settled after more than 12 months (refer to IAS 1 para 59).
2p36(h) 1p52
5. 6.
13. Trade and other receivables

1p74 1p75(b) 1. Receivables should be disclosed in a manner appropriate to the entitys operation, with the following specic disclosures: (a) trade receivables; (b) receivables from subsidiaries (in standalone accounts); (c) receivables from related parties (refer to Section A5.21); (d) other receivables; and (e) prepayments. Disclose impairment losses recognised during the period on receivables. Where trade and other receivables combine current and non-current amounts, disclose the amount of the non-current portion that is expected to be recovered or settled after more than 12 months.
IFRS7p20(e) 2. 1p52 3.
14. Income taxes

1p68(n) 1p68(m) 1p70 1. 2. 3. Deferred tax assets and deferred tax liabilities should be presented separately on the face of the balance sheet. Current income tax assets and liabilities should be presented separately on the face of the balance sheet. Deferred tax assets (liabilities) should be classied as non-current assets (liabilities) if a distinction between current and non-current assets and liabilities is made on the face of the balance sheet. Disclose the amount of the non-current portion of deferred or current taxes that is expected to be recovered or settled after more than 12 months. For the offsetting rules of current tax assets and liabilities, refer to IAS 12 para 71; for the offsetting rules of deferred tax assets and liabilities, refer to IAS 12 para 74. 5. 12p81(e) Disclose: (a) the amount (and expiry date, if any) of deductible temporary differences, unused tax losses, and unused tax credits for which no deferred tax asset is recognised in the balance sheet; (b) the aggregate amount of temporary differences associated with investments in subsidiaries, branches and associates and interests in joint ventures, for which deferred tax liabilities have not been recognised (IAS 12 para 39);
1p52
4.
12p71 12p74
12p81(f)
36
Y-NA-NM
REF
12p81(g)
6.
In respect of each type of temporary difference, and in respect of each type of unused tax losses and unused tax credits, disclose: (a) the amount of the deferred tax assets and liabilities recognised in the balance sheet for each period presented; and (b) the amount of the deferred tax income or expense recognised in the income statement, if this is not apparent from the changes in the amounts recognised in the balance sheet (for example, where there are deferred tax items charged or credited to equity during the period). It is a helpful proof to display the movements during the period in each category of temporary differences in the deferred tax account, although it is not required by IAS 12.
12p82
7.
Disclose the amount of a deferred tax asset and the nature of the evidence supporting its recognition, when: (a) the utilisation of the deferred tax asset is dependent on future taxable prots in excess of the prots arising from the reversal of existing taxable temporary differences; and (b) the entity has suffered a loss in either the current or preceding period in the tax jurisdiction to which the deferred tax asset relates. Disclose the aggregate current and deferred tax relating to items charged or credited to equity. For deferred taxes, it is useful to disclose the analysis by category of temporary differences. If income taxes are payable at a higher or lower rate if part or all of the net prot or retained earnings is paid out as a dividend, disclose: (a) the nature of the potential income tax consequences that would result from the payment of dividends; and (b) the amounts of the potential income tax consequences practically determinable, and whether there are any potential income tax consequences not practically determinable.
12p81(a)
8.
12p82A
9.
15. Trade and other payables

1p74 1. Payables should be disclosed in a manner appropriate to the entitys operations, with the following specic disclosures: (a) trade payables; (b) payables to subsidiaries (in standalone accounts); (c) payables to related parties (refer to Section A5.21); (d) other payables; (e) accruals; and (f) deferred income. Where any of the above items combine current and non-current amounts, disclose the amount of the non-current portion that is expected to be recovered or settled after more than 12 months (refer also to IAS 1 para 61).
1p52
2.
16. Provisions
37p84 1. For each class of provision, disclose: (a) the carrying amount at the beginning of the period; (b) exchange differences from the translation of foreign entities nancial statements; (c) provisions acquired through business combinations;
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(d) additional provisions made in the period and increases to existing provisions; (e) amounts used (incurred and charged against the provision); (f) amounts reversed unused; (g) the increase during the period in the discounted amount arising from the passage of time and the effect of any change in the discount rate; and (h) the carrying amount at the end of the period. Comparative information for these items is not required. 1p52 2. Where any provision combines current and non-current amounts, disclose the amount of the non-current portion that is expected to be recovered or settled after more than 12 months (refer also to IAS 1 para 61). For each class of provision, provide: (a) a brief description of the nature of the obligation and of the expected timing of any resulting outows of economic benets; (b) an indication of the uncertainties about the amount or timing of those outows (where necessary to provide adequate information, disclose the major assumptions made concerning future events, as addressed in IAS 37 para 48); and (c) the amount of any expected reimbursement, stating the amount of any asset that has been recognised for that expected reimbursement. In extremely rare cases, disclosure of some or all of the information required by IAS 37 paras 84-85 (paras 1 and 3 above) can be expected to prejudice the position of the entity in a dispute with other parties in respect of the matter for which the provision is made. In such a situation, the information does not need to be disclosed, but the following should be disclosed: (a) the general nature of the dispute; (b) the fact that the information has not been disclosed; and (c) the reason why that information has not been disclosed. If an estimate of an amount reported in an interim period for example, a provision is changed signicantly during the nal interim period of the nancial year but a separate nancial report is not published for that nal interim period, the nature and amount of that change in estimate should be disclosed in a note to the annual nancial statements for that nancial year. This item is applicable only when the reporting entity publishes an interim nancial report prepared in accordance with IAS 34.
37p85
3.
37p92
4.
34p26
5.
17. Post-employment benets dened benet plans

1p52 1. Where the amounts recognised in the balance sheet combine current and non-current amounts, disclose the amount of the non-current portion (where this can be determined refer to IAS 19 para 118) that is expected to be recovered or settled after more than 12 months. Provide a general description of the type of dened benet plan. Provide a reconciliation of opening and closing balances of the present value of the dened benet obligation showing separately, if applicable, the effects during the period attributable to each of the following:
19p120A(b)
2.
19p120A(c) 3.
Y-NA-NM
REF
(a) (b) (c) (d) (e) (f) (g) (h) (i) 19p120A(d) 4.
current service cost; interest cost; actuarial gains and losses; foreign currency exchange rate changes on plans measured in a currency different from the entitys presentation currency; benets paid; past service cost; business combinations; curtailments; and settlements.
Provide an analysis of the dened benet obligation into amounts arising from plans that are wholly unfunded and amounts arising from plans that are wholly or partly funded. Provide a reconciliation of the opening and closing balances of the fair value of plan assets and of the opening and closing balances of any reimbursement right recognised as an asset in accordance with IAS 19 para 104A, showing separately, if applicable, the effects during the period attributable to each of the following: (a) expected return on plan assets; (b) actuarial gains and losses; (c) foreign currency exchange rate changes on plans measured in a currency different from the entitys presentation currency; (d) contributions by the employer; (e) contributions by plan participants; (f) benets paid; (g) business combinations; and (h) settlements. Provide a reconciliation of the present value of the dened benet obligation in para 2 above, and the fair value of the plan assets in para 4 above, to the assets and liabilities recognised in the balance sheet, showing at least: (a) the net actuarial gains or losses not recognised in the balance sheet; (b) the past service cost not recognised in the balance sheet (refer to IAS 19 para 96); (c) any amount not recognised as an asset, because of the limit in IAS 19 para 58(b); (d) the fair value at the balance sheet date of any reimbursement right recognised as an asset in accordance with IAS 19 para 104A (with a brief description of the link between the reimbursement right and the related obligation); and (e) the other amounts recognised in the balance sheet. Provide the total expense recognised in prot or loss for each of the following, and the line item(s) in which they are included: (a) current service cost; (b) interest cost; (c) expected return on plan assets; (d) expected return on any reimbursement right recognised as an asset in accordance with IAS 19 para 104A; (e) actuarial gains and losses; (f) past service cost; (g) the effect of any curtailment or settlement; and (h) the effect of the limit in IAS 19 para 58(b).
19p120A(e)
5.
19p120A(f)
6.
19p120A(g)
7.
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19p120A(h) 1p96(b)
8.
Provide the total amount recognised in the statement of recognised income and expense for each of the following: (a) actuarial gains and losses; and (b) the effect of the limit in IAS 19 para 58(b). The cumulative amount of actuarial gains and losses recognised in the statement of recognised income and expense.
19p120A(i) 1p96(b) 19p120A(j)
9.
10. Provide for each major category of plan assets which should include, but is not limited to, equity instruments, debt instruments, property, and all other assets the percentage or amount that each major category constitutes of the fair value of the total plan assets. 11. Provide the amounts included in the fair value of plan assets for: (a) each category of the entitys own nancial instruments; and (b) any property occupied by, or other assets used by, the entity. 12. Provide a narrative description of the basis used to determine the overall expected rate of return on assets, including the effect of the major categories of plan assets.
19p120A(k)
19p120A(l)
19p120A(m) 13. Provide the actual return on plan assets, as well as the actual return on any reimbursement right recognised as an asset in accordance with IAS 19 para 104A. 19p120A(n) 14. Provide the principal actuarial assumptions used as at the balance sheet date, including, when applicable: (a) the discount rates; (b) the expected rates of return on any plan assets for the periods presented in the nancial statements; (c) the expected rates of return for the periods presented in the nancial statements on any reimbursement right recognised as an asset in accordance with para 104A; (d) the expected rates of salary increases (and of changes in an index or other variable specied in the formal or constructive terms of a plan as the basis for future benet increases); (e) medical cost trend rates; and (f) any other material actuarial assumptions used (such as details of mortality assumptions). Disclose each actuarial assumption in absolute terms (for example, as an absolute percentage), not just as a margin between different percentages or other variables. 19p120A(o) 15. Provide the effect of an increase of one percentage point and the effect of a decrease of one percentage point in the assumed medical cost trend rates on: (a) the aggregate of the current service cost and interest cost components of net periodic post-employment medical costs; and (b) the accumulated post-employment benet obligation for medical costs. All other assumptions should be held constant for the purposes of this disclosure. For plans operating in a high ination environment, the disclosure should be the effect of a percentage increase or decrease in the assumed medical cost trend rate of a signicance similar to one percentage point in a low ination environment.
40
Y-NA-NM
REF
19p120A(p)
16. Provide the amounts for the current annual period and previous four annual periods of: (a) the present value of the dened benet obligation, the fair value of the plan assets and the surplus or decit in the plan; and (b) the experience adjustments arising on: (i) the plan liabilities expressed either as (1) an amount, or (2) a percentage of the plan liabilities at the balance sheet date; and (ii) the plan assets expressed either as (1) an amount, or (2) a percentage of the plan assets at the balance sheet date. 17. Provide the employers best estimate, as soon as it can reasonably be determined, of contributions expected to be paid to the plan during the annual period beginning after the balance sheet date. 18. For multi-employer plans that are treated as dened benet plans, disclose the information required by IAS 19 para 120A. 19. For multi-employer plans that are treated as a dened contribution plan, disclose; (a) the fact that the plan is a dened benet plan; (b) the reason why sufcient information is not available to enable the entity to account for the plan as a dened benet plan; (c ) to the extent that a surplus or decit in the plan may affect the amount of future contribution: (i) any available information about that surplus or decit; (ii) the basis used to determine that surplus or decit; and (iii) the implications, if any, for the entity (refer also to IAS 19 para 32A and 32B).
19p120A(q)
19p29(b) 19p30(b)(c)
19p34B(a-d) 20. For a dened benet plan that shares risks between entities under common control, disclose; (a) the contractual agreement or stated policy for charging the dened benet cost or the fact that there is no such policy; (b) the policy for determining the contribution to be paid by the entity; (c) if the entity accounts for an allocation of the net dened benet cost in accordance with IAS 19 para 34A, all the information about the plan as a whole in accordance with paras 120-121 (paras 1-17 above); and (d) if the entity accounts for the contribution payable for the period in accordance with IAS 19 para 34A, information about the plan as a whole required in accordance with IAS 19 paras 120A (b)-(e), (j), (n), (o), (q) and 121 (paras 1-4, 9, 13, 14 and 16 above).
18. Lease liabilities

Leases are nancial instruments and therefore all the disclosure requirements of IFRS 7 apply also to leases refer to Section A8. This section of the checklist applies to lessees. For lessors, refer to Section C4. (a) Lessees nance leases 17p31 1. Disclose: (a) the net carrying amount for each class of assets at the balance sheet date; (b) a reconciliation between the total minimum lease payments at the balance sheet date, and their present value;
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(c) the total of minimum lease payments at the balance sheet date, and their present value, for each of the following periods: (i) no later than one year; (ii) later than one year but no later than ve years; and (iii) later than ve years; (d) the amount of contingent rents recognised in the income statement for the period; (e) the total of future minimum sublease payments expected to be received under non-cancellable subleases at the balance sheet date; and (f) a general description of the lessees signicant leasing arrangements. This would include, but is not limited to: (i) the basis on which contingent rent payments are determined; (ii) the existence and terms of renewal or purchase options and escalation clauses; and (iii) restrictions imposed by lease arrangements, such as those concerning dividends, additional debt and further leasing. The disclosure requirements of IAS 16, IAS 36, IAS 38, IAS 40 and IAS 41 apply to lessees for assets leased under nance leases. (b) Lessees operating leases 17p35 1. Disclose: (a) the total of future minimum lease payments under noncancellable operating leases for each of the following periods: (i) no later than one year; (ii) later than one year and no later than ve years; and (iii) later than ve years. (b) the total of future minimum sublease payments to be received under non-cancellable subleases at the balance sheet date; (c) lease and sublease payments recognised in the income statement for the period, with separate amounts for minimum lease payments, contingent rents and sublease payments; and (d) a general description of the lessees signicant leasing arrangements. This would include, but is not limited to: (i) the basis on which contingent rent payments are determined; (ii) the existence and terms of renewal or purchase options and escalation clauses; and (iii) restrictions imposed by lease arrangements, such as those concerning dividends, additional debt and further leasing. The disclosure requirements about leases set out in Section A5.18 also apply to sale and leaseback transactions. Any unique or unusual provisions in the agreements or terms of the sale and leaseback transactions should be separately disclosed. The disclosure requirements set out in Section A5.18 also apply to leases under IFRIC 4. If a purchaser/lessee concludes that it is impractical to separate the lease payments in an operating lease reliably from other payments, it should treat all payments under the agreement as lease payments for the purpose of complying with the disclosures of IAS 17, but: (a) disclose those payments separately from minimum lease payments that do not include payments for non-lease elements; and
17p65
2.
IFRIC4pBC39 3. IFRIC4p15(b) 4.
Y-NA-NM
REF
(b) state that the disclosed payments also include payments for non-lease elements in the arrangement. (c) Arrangements that do not involve a lease in substance SIC27p10-11 1. For arrangements that do not involve a lease in substance, disclose the following, individually for each arrangement or in aggregate for each class of arrangement, in each period in which an arrangement exists: (a) a description of the arrangement including: (i) the underlying asset and restrictions on its use; (ii) the life and other signicant terms of the arrangement; (iii) the transactions that are linked together, including any options; and (b) the accounting treatment applied to any fee received, the amount recognised in income in the period, and the line item of the income statement in which it is included.
19. Borrowings and other liabilities

Borrowings are nancial instruments; therefore, all the IFRS 7 disclosure requirements also apply to borrowings. Refer to Section A8. 1p51, 52 1p67 1. 2. Disclose the borrowings classied between current and non-current portions, in accordance with IAS 1 paras 60-65. In respect of loans classied as current liabilities, if the following events occur between the balance sheet date and the date the nancial statements are authorised for issue, those events qualify for disclosure as non-adjusting events in accordance with IAS 10: (a) renancing on a long-term basis; (b) rectication of a breach of a long-term loan agreement; and (c) the receipt from the lender of a period of grace to rectify a breach of a long-term loan agreement ending at least 12 months after the balance sheet date. The issuer of a non-derivative nancial instrument should evaluate the terms of the nancial instrument to determine whether it contains both a liability and an equity component. Such components should be classied separately as nancial liabilities, nancial assets or equity instruments, in accordance with IAS 32 para 15.
32p28
3.
20. Government grants

20p39(b)(c) 1. Disclose: (a) the nature and extent of government grants recognised; (b) an indication of other forms of government assistance from which the entity has directly beneted; and (c) unfullled conditions and other contingencies related to government assistance that has been recognised.
21. Related-party transactions

24p9 1. The disclosures in the following paragraph apply to related parties, which comprise the following entities and individuals: (a) controlling shareholders (for example, parent companies, individual companies and trusts); (b) subsidiaries and fellow subsidiaries; (c) parties that have an interest in the entity that gives them signicant inuence over the entity; (d) parties that have joint control over the entity; (e) associates;
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REF
(f) joint ventures; (g) the entitys or parents key management personnel; (h) close members of the family of any individual referred to in (a), (b), (c), (d) or (g); (i) an entity that is controlled, jointly controlled or signicantly inuenced by any individual referred to in (g) or (h), or for which signicant voting power in the entity resides with, directly or indirectly, any individual referred to in (g) or (h); and (j) the post-employment benet plan. 24p12 2. Relationships between parents and subsidiaries should be disclosed irrespective of whether there have been transactions between those related parties. Disclose the name of the entitys parent and, if different, the ultimate controlling party. If neither the entitys parent nor the ultimate controlling party produces nancial statements available for public use, the name of the next most senior parent that does so should also be disclosed. Key management personnel compensation should be disclosed in total and for each of the following categories: (a) short-term employee benets; (b) post-employment benets; (c) other long-term benets; (d) termination benets; and (e) share-based payments. Where there have been transactions between related parties, disclose: (a) the nature of related-party relationships; (b) types of transactions (for example, goods or services sold/purchased, management services, directors remuneration and emoluments, loans and guarantees); (c) the amount of transactions; (d) the amount of outstanding balances (including terms and conditions, secured or not, the nature of the consideration to be provided in settlement and any guarantees given or received); (e) provisions for doubtful debts related to the amount of outstanding balances; and (f) the expense recognised during the period in respect of bad or doubtful debts due from related parties. The disclosures required by paragraph 4 above should be made separately for each of the following categories: (a) the parent; (b) entities with joint control or signicant inuence over the entity; (c) subsidiaries; (d) associates; (e) joint ventures in which the entity is a venturer; (f) entitys or parents key management personnel; and (g) other related parties. IAS 24 para 20 contains examples of situations that may require disclosure. Where necessary for an understanding of the effects of related-party transactions on the nancial statements, disclose items of similar nature separately, rather than in aggregate. Only provide disclosures that related-party transactions were made on an arms length basis if such terms can be substantiated.
24p16
3.
24p17(a-d)
4.
24p18
5.
24p20 24p22
6. 7.
24p21
8.
Y-NA-NM
REF
32p34
9.
Separately provide disclosures where the entity re-acquires its own equity instruments from related parties, in accordance with IAS 24 para 22.
19p34B
10. Participation in a dened benet plan that shares risks between various entities under common control (for example,. a parent and its subsidiaries) is a related-party transaction for each individual group entity. Make the following disclosures in the separate or individual nancial statements: (a) the contractual agreement or stated policy for charging the net dened benet cost or the fact that there is no such policy; (b) the policy for determining the contribution to be paid by the entity; (c) if the entity accounts for an allocation of the net dened benet cost in accordance with IAS 19 paragraph 34A, all the information about the plan as a whole in accordance with IAS 19 paragraphs 120-121; and (d) if the entity accounts for the contribution payable for the period in accordance with IAS 19 paragraph 34A, the information about the plan as a whole required in accordance with IAS 19 paragraphs 120A(b)-(e), (j), (n), (o), (q) and 121. The other disclosures required by paragraph 120A do not apply.
22. Commitments
1. 16p74(c) 38p122(e) 40p75(h) 2. The amount of contractual commitments for the acquisition of: (a) property, plant and equipment; and (b) intangible assets. Contractual obligations: (a) to purchase, construct or develop investment property; and (b) for repairs, maintenance or enhancements of investment property.
Refer also to the commitments in respect of lease agreements in Section A5.18 and commitments in respect of joint ventures in Section A5.9.
23. Contingencies
37p86 1. Disclose for each class of contingent liability, unless the possibility of any outow in settlement is remote: (a) a brief description of the nature of the contingent liability; (b) where practicable, disclose also: (i) an estimate of its nancial effect, measured under IAS 37 paras 36-52; (ii) an indication of the uncertainties about the amount or timing of any outow; and (iii) the possibility of any reimbursement; and (c) where any of this information is not disclosed because it is not practicable to do so, disclose that fact. Where a provision and a contingent liability arise from the same set of circumstances, the link between the provision and the contingent liability should be shown. Disclose for contingent assets, where an inow of economic benets is probable: (a) a brief description of the nature of the contingent asset; (b) where practicable, an estimate of their nancial effect, measured under IAS 37 paras 36-52; and (c) where this information is not disclosed because it is not practicable to do so, disclose that fact.
PricewaterhouseCoopers 45
37p86(a) 37p86(b) 37p86(c) 37p91 37p88 2.
37p89
3.
37p91
Section A5
Y-NA-NM
REF
37p92
4.
In extremely rare cases, disclosure of some or all of the information required by IAS 37 paras 86-89 on contingencies (paras 1 to 3 above) can be expected to seriously prejudice the position of the entity in a dispute with other parties on the subject of the contingent liability or contingent asset. In such cases, the information need not be disclosed, but the following must be disclosed: (a) the general nature of the contingencies; (b) the fact that the required information has not been disclosed; and (c) the reason why the required information has not been disclosed. Disclose contingent liabilities arising from: (a) post-employment benet obligations; and (b) termination benets (for example, due to the uncertainty over the number of employees who will accept an offer of termination benets). Refer also to Sections A5.17(a) para 8 and A5.17(b) para 18. Refer also to the contingencies in respect of lease agreements in Section A5.18 and contingencies in respect of joint ventures in Section A5.9.
5. 19p125 19p141
24. Events after the balance sheet date

10p12 1p125(a) 1. Disclose the amount of dividends proposed or declared before the nancial statements were authorised for issue but not recognised as a distribution to equity holders during the period, and the related amount per share. Where events occurring after the balance sheet date do not affect the condition of assets or liabilities at the balance sheet date (ie, non-adjusting) but are of such importance that non-disclosure would affect the ability of the users of the nancial statements to make proper evaluations and decisions, disclose: (a) the nature of the event; and (b) an estimate of the nancial effect, or a statement that such an estimate cannot be made. Examples of non-adjusting events that would generally require disclosure are provided in IAS 10 para 22. IFRS3p66(b) 3. If a business combination takes effect after the balance sheet date and before the nancial statements are issued, all relevant disclosures should be made (refer to Section A7). If it is impracticable to disclose any of this information, disclose this fact and an explanation of why this is the case. If the number of ordinary or potential ordinary shares outstanding increases as a result of a capitalisation, bonus issue or share split, or decreases as a result of a reverse share split, the calculation of basic and diluted earnings per share for all periods presented should be adjusted retrospectively. If these changes occur after the balance sheet date but before the nancial statements are authorised for issue, the per share calculations for those and any prior-period nancial statements presented should be based on the new number of shares. The fact that per share calculations reect such changes in the number of shares should be disclosed. Basic and diluted earnings per share of all periods presented should be adjusted for the effects of errors and adjustments resulting from changes in accounting policies, accounted for retrospectively.
46 PricewaterhouseCoopers
10p21
2.
33p64
4.
International Financial Reporting Standards Disclosure checklist 2007 Sections A5-A6
Y-NA-NM
REF
33p70(d)
5.
Provide a description of ordinary share transactions or potential ordinary share transactions other than capitalisation, bonus issues or share splits, for which the basic and diluted earnings per share are adjusted retrospectively that occur after the balance sheet date and that would have changed signicantly the number of ordinary shares or potential ordinary shares outstanding at the end of the period if those transactions had occurred before the end of the reporting period. Examples are provided in IAS 33 para 71.
12p81(i)
6.
Disclose the amount of income tax consequences of dividends that were proposed or declared after the balance sheet date but before the nancial statements were authorised for issue. If income taxes are payable at a higher or lower rate if part or all of the net prot or retained earnings is paid out as a dividend to shareholders, disclose: (a) the nature of the potential income tax consequences that would result from the payment of dividends; and (b) the amounts of the potential income tax consequences practically determinable and whether there are any potential income tax consequences not practically determinable. If an entity receives information after the balance sheet date about conditions that existed at the balance sheet date, update the disclosures that relate to those conditions in the light of the new information.
12p82A
7.
10p19
8.
A6 Cash ow statement
1. General presentation
7, AppA 7p10 7p18 For example cash ow statements (direct and indirect method), refer to IAS 7 Appendix A. 1. 2. Classify cash ows into three activities: operating, investing and nancing activities. Disclose cash ows from operating activities using either: (a) the direct method, disclosing major classes of gross cash receipts or payments; or (b) the indirect method, adjusting net prot and loss for the effects of: (i) any transactions of a non-cash nature; (ii) any deferrals or accruals of past or future operating cash receipts or payments; and (iii) items of income or expense associated with investing or nancing cash ows. For cash ows from investing and nancing activities, disclose separately major classes of gross cash receipts and gross cash payments (except as noted in para 4 below). For example, proceeds from new borrowings have to be displayed separately from repayments of borrowings. The following cash ows arising from the operating, investing or nancing activities may be reported on a net basis (IAS 7 para 23): (a) cash receipts and payments on behalf of customers when the cash ows reect the activities of the customer rather than those of the entity; and (b) cash receipts and payments for items in which the turnover is quick, the amounts are large and the maturities are short.
7p21
3.
7p22
4.
47
Section A6
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REF
7p43
5.
For non-cash transactions, exclude from the cash ow statement those investing and nancing transactions that do not require the use of cash and cash equivalents. Disclose non-cash transactions separately in the note to the cash ow statement. Examples of non-cash transactions are: (a) acquisition of assets either by assuming directly related liabilities or by means of a nance lease; (b) acquisition of an entity by means of an equity issue; and (c) conversion of debt to equity.
7p44
2. Individual items
1. 7p35 7p36 For cash ows arising from taxes on income: (a) disclose taxes paid; (b) classify taxes paid as cash ows from operating activities unless specically identied with nancing and investing activities; and (c) disclose the total amount of taxes paid when tax cash ows are allocated over more than one class of activity. For cash ows from interest and dividends, disclose: (a) interest received; (b) interest paid; (c) dividends received; and (d) dividends paid. Each of the above items should be classied in a consistent manner from period to period as either operating, investing or nancing activities. 7p33 7p34 7p39 3. Interest paid is normally classied as either operating or nancing activities. Interest and dividends received are normally classied as either operating or investing activities. Dividends paid are normally classied as either nancing or operating activities. Aggregate cash ows arising from the following are presented separately and classied as investing activities: (a) acquisitions; and (b) disposals of subsidiaries or other business units. Refer also to the disclosure requirements for acquisitions and disposals in Section A7. 7p45 4. For cash and cash equivalents, disclose: (a) the components; and (b) reconciliation of amounts in cash ow statement with cash and cash equivalents in the balance sheet. Disclose the amount of signicant cash and cash equivalent balances held by the entity that are not available for use by the group, and provide a commentary by management. Discontinued operation disclose the amounts of net cash ows from: (a) operating activities; (b) investing activities; and (c) nancing activities. These disclosures may be presented either in the notes to, or on the face of, the nancial statements. DV7p50 7. Voluntary disclosures provide additional information relevant to understanding the nancial position and liquidity of an entity, and a commentary by management:
7p31
2.
7p48
5.
IFRS5p33(c) 6.
48
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REF
(a) the amount of undrawn borrowing facilities available for future operating activities and to settle capital commitments, indicating any restrictions as to the use of these facilities; (b) the aggregate amounts of the cash ows from each of operating, investing and nancing activities related to interests in joint ventures reported using proportionate consolidation; (c) the aggregate amount of cash ows that represent increases in operating capacity separately from those cash ows that are required to maintain operating capacity; and (d) the amount of cash ows arising from the operating, investing and nancing activities of each reported industry and geographical segment.
A7 Business combinations and disposals

1. Business combinations
IFRS3p67 1. For each business combination that took effect during the reporting period, disclose: (a) the names and descriptions of the combining entities or businesses; (b) the acquisition date; (c) details of any operations that the entity has decided to dispose of as a result of the combination; (d) the percentage of voting equity instruments acquired; (e) the cost of the combination and a description of the components of that cost, including any costs directly attributable to the combination. When equity instruments are issued or issuable as part of the cost, the following should also be disclosed: (i) the number of equity instruments issued or issuable; and (ii) the fair value of those instruments and the basis for determining that fair value. If a published price does not exist for the instruments at the date of exchange, the signicant assumptions used to determine fair value should be disclosed. If a published price exists at the date of exchange but has not been used as the basis for determining the cost of the combination, that fact should be disclosed together with: the reasons why the published price has not been used; the method and signicant assumptions used to attribute a value to the equity instruments; and the aggregate amount of the difference between the value attributed to, and the published price of, the equity instruments; (f) the amounts recognised at the acquisition date for each class of the acquirees assets, liabilities and contingent liabilities, and the carrying amounts of each of those classes, determined in accordance with IFRS, immediately before the combination; (g) the amount of any excess recognised in prot or loss in accordance with IFRS 3 para 56 and the line item in the income statement in which the excess is recognised; (h) a description of the factors that contributed to a cost that results in the recognition of goodwill, including a description of each intangible asset that was not recognised separately from goodwill and an explanation of why the fair value of this asset could not be measured reliably, or a description of the nature of any excess recognised in prot or loss; and

50
Section A7
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REF
(i) the amount of the acquirees prot or loss since the acquisition date included in the acquirers prot or loss for the period, unless impracticable. If such disclosure would be impracticable, that fact should be disclosed, together with an explanation of why this is the case. IFRS3p66(b) All relevant disclosures required by IFRS 3 should also be made for business combinations after the balance sheet date and before the date on which the nancial statements are issued; if it is impracticable to disclose any of this information, disclose this fact together with an explanation of why this is the case. 2. Disclose the information required under IFRS 3 para 67 (refer to para 1 above) in aggregate for business combinations that took effect during the reporting period and that are individually immaterial. In respect of acquisitions of subsidiaries or other business units, disclose in aggregate: (a) the total purchase consideration; (b) the portion of the total purchase consideration discharged by means of cash and cash equivalents; (c) the amount of cash and cash equivalents in the subsidiary or business unit acquired; and (d) the amount of the assets and liabilities other than cash or cash equivalents in the subsidiary or business unit acquired, summarised by each major category. If the initial accounting for a business combination that took effect during the reporting period has been determined only provisionally, that fact should be disclosed, together with an explanation of why this is the case, as described in IFRS 3 para 62. The acquirer should also disclose: (a) the revenue of the combined entity for the period as if the acquisition date for all business combinations that took effect during the reporting period had been at the beginning of that period; and (b) the prot or loss of the combined entity for the period as if the acquisition date for all business combinations that took effect during the reporting period had been at the beginning of that period. If disclosure of this information would be impracticable, disclose that fact, together with an explanation of why this is the case. IFRS3p73 6. The acquirer should also disclose the following information relating to business combinations that took effect in the current or previous periods: (a) the amount and an explanation of any material gain or loss recognised in the current reporting period; (b) the amounts and explanations of the adjustments to the provisional values recognised during the current reporting period; and (c) the information about error corrections that the acquirer recognises during the current reporting period, as required by IAS 8.
IFRS3p68
7p40
3.
IFRS3p69
4.
5. IFRS3p70
2. Disposals
7p40 1. In respect of disposals of subsidiaries or other business units, disclose in aggregate: (a) the total disposal consideration;
Y-NA-NM
REF
(b) the portion of the total disposal consideration discharged by means of cash and cash equivalents; (c) the amount of cash and cash equivalents in the subsidiary or business unit disposed of; and (d) the amount of the assets and liabilities other than cash or cash equivalents in the subsidiary or business unit disposed of, summarised by each major category.
A8 Financial instruments
IFRS7p6 AppxB1-B3 When IFRS 7 requires disclosures by class of nancial instrument, group the nancial instruments into classes that are appropriate to the nature of the information disclosed. Take into account the characteristics of those nancial instruments. Provide sufcient information to permit reconciliation to the line items presented in the balance sheet. Disclose information that enables users of the nancial statements to evaluate the signicance of nancial instruments for nancial position and performance.
IFRS7p7
2. Categories of nancial assets and nancial liabilities

IFRS7p8 Disclose either on the face of the balance sheet or in the notes the carrying amounts of each of the following categories, as dened in IAS 39: (a) nancial assets at fair value through prot or loss, showing separately: (i) those designated as such upon initial recognition; and (ii) those classied as held for trading in accordance with IAS 39; (b) held-to-maturity investments; (c) loans and receivables; (d) available-for-sale nancial assets; (e) nancial liabilities at fair value through prot or loss, showing separately: (i) those designated as such upon initial recognition; and (ii) those classied as held for trading in accordance with IAS 39; and (f) nancial liabilities measured at amortised cost.
3. Financial assets or nancial liabilities at fair value through prot or loss

IFRS7p9 1. If a loan or receivable (or group of loans or receivables) is designated as at fair value through prot or loss, disclose: (a) the maximum exposure to credit risk (see IFRS7p36(a)) of the loan or receivable (or group of loans or receivables) at the reporting date; (b) the amount by which any related credit derivatives or similar instruments mitigate that maximum exposure to credit risk; (c) the amount of change, during the period and cumulatively, in the fair value of the loan or receivable (or group of loans or receivables) that is attributable to changes in the credit risk of the nancial asset determined either: (i) as the amount of change in its fair value that is not attributable to changes in market conditions that give rise to market risk; or
51

52
Section A8
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(ii) using an alternative method that the entity believes more faithfully represents the amount of change in its fair value that is attributable to changes in the credit risk of the asset. Changes in market conditions that give rise to market risk include changes in an observed (benchmark) interest rate, commodity price, foreign exchange rate or index of prices or rates; and (d) the amount of the change in the fair value of any related credit derivatives or similar instruments that has occurred during the period and cumulatively since the loan or receivable was designated. IFRS7p10 AppxB4 2. If the entity has designated a nancial liability as at fair value through prot or loss in accordance with IAS 39p9, disclose: (a) the amount of change, during the period and cumulatively, in the fair value of the nancial liability that is attributable to changes in the credit risk of that liability determined either: (i) as the amount of change in its fair value that is not attributable to changes in market conditions that give rise to market risk (see IFRS7AppdxB4); or (ii) using an alternative method that the entity believes more faithfully represents the amount of change in its fair value that is attributable to changes in the credit risk of the liability. Changes in market conditions that give rise to market risk include changes in a benchmark interest rate, the price of another entitys nancial instrument, a commodity price, a foreign exchange rate or an index of prices or rates. For contracts that include a unit-linking feature, changes in market conditions include changes in the performance of the related internal or external investment fund; and (b) the difference between the nancial liabilitys carrying amount and the amount the entity would be contractually required to pay at maturity to the holder of the obligation. Disclose: (a) the methods used to comply with the requirements in IFRS7p9(c) and IFRS7p10(a); and (b) if the entity believes that the disclosure it has given to comply with the requirements in IFRS7p9(c) and IFRS7p10(a) does not faithfully represent the change in the fair value of the nancial asset or nancial liability attributable to changes in its credit risk, the reasons for reaching this conclusion and the factors it believes are relevant.
IFRS7p11 AppxB4
3.
4. Reclassication
IFRS7p12 If the entity has reclassied a nancial asset as one measured: (a) at cost or amortised cost, rather than at fair value; or (b) at fair value, rather than at cost or amortised cost, disclose the amount reclassied into and out of each category and the reason for that reclassication (see IAS39p51-54).
5. Derecognition
IFRS7p13 If nancial assets have been transferred in such a way that part or all of the nancial assets do not qualify for derecognition (see 39p15-37), disclose for each class of such nancial assets: (a) the nature of the assets;
Y-NA-NM
REF
(b) the nature of the risks and rewards of ownership to which the entity remains exposed; (c) when the entity continues to recognise all of the assets, the carrying amounts of the assets and of the associated liabilities; and (d) when the entity continues to recognise the assets to the extent of its continuing involvement, the total carrying amount of the original assets, the amount of the assets that the entity continues to recognise, and the carrying amount of the associated liabilities.
6. Collateral
IFRS7p14 1. Disclose: (a) the carrying amount of nancial assets that the entity has pledged as collateral for liabilities or contingent liabilities, including amounts that have been reclassied in accordance with IAS39p37(a); and (b) the terms and conditions relating to its pledge. When the entity holds collateral (of nancial or non-nancial assets) and is permitted to sell or repledge the collateral in the absence of default by the owner of the collateral, disclose: (a) the fair value of the collateral held; (b) the fair value of any such collateral sold or repledged, and whether the entity has an obligation to return it; and (c) the terms and conditions associated with its use of the collateral.
IFRS7p15
2.
7. Allowance account for credit losses

IFRS7p16 When nancial assets are impaired by credit losses and the entity records the impairment in a separate account (for example, an allowance account used to record individual impairments or a similar account used to record a collective impairment of assets) rather than directly reducing the carrying amount of the asset, disclose a reconciliation of changes in that account during the period for each class of nancial assets.
8. Compound nancial instruments with multiple embedded derivatives

IFRS7p17 If the entity has issued an instrument that contains both a liability and an equity component (IAS32p28) and the instrument has multiple embedded derivatives whose values are interdependent (such as a callable convertible debt instrument), disclose the existence of those features.
9. Defaults and breaches

IFRS7p18 1. For loans payable recognised at the reporting date, disclose: (a) details of any defaults during the period of principal, interest, sinking fund or redemption terms of those loans payable; (b) the carrying amount of the loans payable in default at the reporting date; and (c) whether the default was remedied, or the terms of the loans payable were renegotiated, before the nancial statements were authorised for issue.
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Section A8
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IFRS7p19
2.
If during the period there were breaches of loan agreement terms other than those described in IFRS7p18, disclose the same information as required by IFRS7p18 if those breaches permitted the lender to demand accelerated repayment (unless the breaches were remedied, or the terms of the loan were renegotiated, on or before the reporting date).
10. Income statement and equity

IFRS7p20 Items of income, expense, gains or loss Disclose the following items of income, expense, gains or losses either on the face of the nancial statements or in the notes: (a) net gains or net losses on: (i) nancial assets or nancial liabilities at fair value through prot or loss, showing separately those on nancial assets or nancial liabilities designated as such upon initial recognition, and those on nancial assets or nancial liabilities that are classied as held for trading in accordance with IAS 39; (ii) available-for-sale nancial assets, showing separately the amount of gain or loss recognised directly in equity during the period and the amount removed from equity and recognised in prot or loss for the period; (iii) held-to-maturity investments; (iv) loans and receivables; and (v) nancial liabilities measured at amortised cost; (b) total interest income and total interest expense (calculated using the effective interest method) for nancial assets or nancial liabilities that are not at fair value through prot or loss; (c) fee income and expense (other than amounts included in determining the effective interest rate) arising from: (i) nancial assets or nancial liabilities that are not at fair value through prot or loss; and (ii) trust and other duciary activities that result in the holding or investing of assets on behalf of individuals, trusts, retirement benet plans and other institutions; (d) interest income on impaired nancial assets accrued in accordance with IAS39AG93; and (e) the amount of any impairment loss for each class of nancial asset.

IFRS7p21, 1p108 (a) Accounting policies Disclose in the summary of signicant accounting policies the measurement basis (or bases) used in preparing the nancial statements and the other accounting policies used that are relevant to an understanding of the nancial statements. Disclosure required by IFRS7p21 may include: (a) for nancial assets or nancial liabilities designated as at fair value through prot or loss: (i) the nature of the nancial assets or nancial liabilities the entity has designated as at fair value through prot or loss; (ii) the criteria for designating such nancial assets or nancial liabilities on initial recognition; and
IFRS7 AppxB5
54
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REF
(b) (c) (d)
IFRS7p10
(e)
(f)
(g)
(iii) how the entity has satised the conditions in IAS39p9, IAS39p11A or IAS39p12 for such designation. For instruments designated in accordance with IAS39p9(b)(i) of the denition of a nancial asset or nancial liability at fair value through prot or loss, include a narrative description of the circumstances underlying the measurement or recognition inconsistency that would otherwise arise. For instruments designated in accordance with IAS39p9(b)(ii) of the denition of a nancial asset or nancial liability at fair value through prot or loss, include a narrative description of how designation at fair value through prot or loss is consistent with the entitys documented risk management or investment strategy; the criteria for designating nancial assets as available for sale; whether regular way purchases and sales of nancial assets are accounted for at trade date or at settlement date (see IAS39p38). when an allowance account is used to reduce the carrying amount of nancial assets impaired by credit losses: (i) the criteria for determining when the carrying amount of impaired nancial assets is reduced directly (or, in the case of a reversal of a write-down, increased directly) and when the allowance account is used; and (ii) the criteria for writing off amounts charged to the allowance account against the carrying amount of impaired nancial assets; how net gains or net losses on each category of nancial instrument are determined (see IFRS7p20(a)), for example, whether the net gains or net losses on items at fair value through prot or loss include interest or dividend income; the criteria the entity uses to determine that there is objective evidence that an impairment loss has occurred (see IFRS7p20(e)); and when the terms of nancial assets that would otherwise be past due or impaired have been renegotiated, the accounting policy for nancial assets that are the subject of renegotiated terms (see IFRS7p36(d)).
Disclose, in the summary of signicant accounting policies or other notes, the judgements, apart from those involving estimations, that management has made in the process of applying the entitys accounting policies and that have the most signicant effect on the amounts recognised in the nancial statements (see IAS1p113). IFRS7p22 (b) Hedge accounting Disclose the following separately for each type of hedge described in IAS 39 (ie, fair value hedges, cash ow hedges and hedges of net investments in foreign operations): (a) a description of each type of hedge; (b) a description of the nancial instruments designated as hedging instruments and their fair values at the reporting date; and (c) the nature of the risks being hedged. For cash ow hedges, disclose: (a) the periods when the cash ows are expected to occur and when they are expected to affect prot or loss; (b) a description of any forecast transaction for which hedge accounting had previously been used, but which is no longer expected to occur;
IFRS7 p23
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56
Section A8
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(c) the amount that was recognised in equity during the period; (d) the amount that was removed from equity and included in prot or loss for the period, showing the amount included in each line item in the income statement; and (e) the amount that was removed from equity during the period and included in the initial cost or other carrying amount of a non-nancial asset or non-nancial liability whose acquisition or incurrence was a hedged highly probable forecast transaction. IFRS7 p24 Disclose separately: (a) in fair value hedges, gains or losses: (i) on the hedging instrument; and (ii) on the hedged item attributable to the hedged risk; (b) the ineffectiveness recognised in prot or loss that arises from cash ow hedges; and (c) the ineffectiveness recognised in prot or loss that arises from hedges of net investments in foreign operations. (c) Fair value Except as set out in IFRS7p29, for each class of nancial assets and nancial liabilities (see IFRS7p6), disclose the fair value of that class of assets and liabilities in a way that permits it to be compared with its carrying amount. In disclosing fair values, group nancial assets and nancial liabilities into classes, but offset them only to the extent that their carrying amounts are offset in the balance sheet. Disclose: (a) the methods and, when a valuation technique is used, the assumptions applied in determining fair values of each class of nancial asset or nancial liability. For example, if applicable, disclose information about the assumptions relating to prepayment rates, rates of estimated credit losses, and interest rates or discount rates; (b) whether fair values are determined, in whole or in part, directly by reference to published price quotations in an active market or are estimated using a valuation technique (see IAS39AG71-AG79); (c) whether the fair values recognised or disclosed in the nancial statements are determined in whole or in part using a valuation technique based on assumptions that are not supported by prices from observable current market transactions in the same instrument (ie, without modication or repackaging) and not based on available observable market data. For fair values that are recognised in the nancial statements, if changing one or more of those assumptions to reasonably possible alternative assumptions would change the fair value signicantly, state this fact and disclose the effect of those changes. For this purpose, judge the signicance with respect to prot or loss, and total assets or total liabilities, or, when changes in fair value are recognised in equity, total equity; and (d) if (c) applies, the total amount of the change in fair value estimated using such a valuation technique that was recognised in prot or loss during the period. If the market for a nancial instrument is not active, its fair value is established using a valuation technique (see IAS39AG74-AG79). The best evidence of fair value at initial recognition is the transaction price (ie, the fair value of the consideration given or received), unless conditions
IFRS7p25
IFRS7p26
IFRS7 p27
IFRS7p28
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described in IAS39AG76 are met. There could be a difference between the fair value at initial recognition and the amount that would be determined at that date using the valuation technique. If such a difference exists, disclose, by class of nancial instrument: (a) the accounting policy for recognising that difference in prot or loss to reect a change in factors (including time) that market participants would consider in setting a price (see IAS39AG76A); and (b) the aggregate difference yet to be recognised in prot or loss at the beginning and end of the period and a reconciliation of changes in the balance of this difference. IFRS7p29 Disclosures of fair value are not required: (a) when the carrying amount is a reasonable approximation of fair value (for example, for nancial instruments such as short-term trade receivables and payables); (b) for an investment in equity instruments that do not have a quoted market price in an active market, or derivatives linked to such equity instruments, that is measured at cost in accordance with IAS 39 because its fair value cannot be measured reliably; or (c) for a contract containing a discretionary participation feature (as described in IFRS 4) if the fair value of that feature cannot be measured reliably. In the cases described in IFRS7p29(b) and (c), disclose information to help users of the nancial statements make their own judgements about the extent of possible differences between the carrying amount of those nancial assets or nancial liabilities and their fair value, including: (a) the fact that fair value information has not been disclosed for these instruments because their fair value cannot be measured reliably; (b) a description of the nancial instruments, their carrying amount, and an explanation of why fair value cannot be measured reliably; (c) information about the market for the instruments; (d) information about whether and how the entity intends to dispose of the nancial instruments; and (e) if nancial instruments whose fair value previously could not be reliably measured are derecognised, that fact, their carrying amount at the time of derecognition, and the amount of gain or loss recognised.
IFRS7p30
12. Nature and extent of risks arising from nancial instruments

IFRS7p31 Disclose information that enables users of the nancial statements to evaluate the nature and extent of risks arising from nancial instruments to which the entity is exposed at the reporting date. The disclosures required by IFRS7p31-42 should either be given in the nancial statements or incorporated by cross-reference from the nancial statements to some other statement, such as a management commentary or risk report, that is available to users of the nancial statements on the same terms as the nancial statements and at the same time. Without the information incorporated by cross-reference, the nancial statements are incomplete. The disclosures required by IFRS7p33-42 focus on the risks that arise from nancial instruments and how they have been managed. These risks typically include, but are not limited to, credit risk, liquidity risk and market risk.
IFRS7 AppdxB6
IFRS7p32
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13. Qualitative disclosures

IFRS7p33 For each type of risk arising from nancial instruments, disclose: (a) the exposures to risk and how they arise; (b) objectives, policies and processes for managing the risk and the methods used to measure the risk; and (c) any changes in (a) or (b) from the previous period.
14. Quantitative disclosures

IFRS7p34 AppdxB7 1. For each type of risk arising from nancial instruments, disclose: (a) summary quantitative data about exposure to that risk at the reporting date. This disclosure should be based on the information provided internally to key management personnel of the entity (as dened in IAS 24), for example the entitys board of directors or chief executive ofcer; (b) the disclosures required by IFRS7p36-42, to the extent not provided in (a), unless the risk is not material (see IAS1p29-31 for a discussion of materiality); and (c) concentrations of risk if not apparent from (a) and (b). IFRS7p34(c) requires disclosures about concentrations of risk. Concentrations of risk arise from nancial instruments that have similar characteristics and are affected similarly by changes in economic or other conditions. The identication of concentrations of risk requires judgement, taking into account the circumstances of the entity. Include in the disclosure of concentrations of risk: (a) a description of how management determines concentrations; (b) a description of the shared characteristic that identies each concentration (for example, counterparty, geographical area, currency or market); and (c) the amount of the risk exposure associated with all nancial instruments sharing that characteristic. If the quantitative data disclosed as at the reporting date is unrepresentative of the entitys exposure to risk during the period, provide further information that is representative. (a) Credit risk IFRS7p36 Disclose by class of nancial instrument: AppdxB9-10 (a) the amount that best represents the entitys maximum exposure to credit risk at the reporting date without taking account of any collateral held or other credit enhancements (for example, netting agreements that do not qualify for offset in accordance with IAS 32); (b) in respect of the amount disclosed in (a), a description of collateral held as security and other credit enhancements; (c) information about the credit quality of nancial assets that are neither past due nor impaired; and (d) the carrying amount of nancial assets that would otherwise be past due or impaired whose terms have been renegotiated. Financial assets that are either past due or impaired Disclose by class of nancial asset: (a) an analysis of the age of nancial assets that are past due as at the reporting date but not impaired; (b) an analysis of nancial assets that are individually determined to be impaired as at the reporting date, including the factors the entity considered in determining that they are impaired; and (c) for the amounts disclosed in (a) and (b), a description of collateral held
IFRS7 AppdxB8
IFRS7p37
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by the entity as security and other credit enhancements and, unless impracticable, an estimate of their fair value. Collateral and other credit enhancements obtained When an entity obtains nancial or non-nancial assets during the period by taking possession of collateral it holds as security or calling on other credit enhancements (for example, guarantees), and such assets meet the recognition criteria in other standards, disclose: (a) the nature and carrying amount of the assets obtained; and (b) when the assets are not readily convertible into cash, the policies for disposing of such assets or for using them in its operations. Disclose: (a) a maturity analysis for nancial liabilities that shows the remaining contractual maturities; and (b) a description of how the liquidity risk inherent in (a) is managed. In preparing the contractual maturity analysis for nancial liabilities required by IFRS7p39(a), use judgement to determine an appropriate number of time bands. For example, an entity might determine that the following time bands are appropriate: (a) not later than one month; (b) later than one month and not later than three months; (c) later than three months and not later than one year; and (d) later than one year and not later than ve years. When a counterparty has a choice of when an amount is paid, include the liability on the basis of the earliest date on which the entity can be required to pay. For example, nancial liabilities that an entity can be required to repay on demand (for example, demand deposits) are included in the earliest time band. IFRS7 AppdxB13 When an entity is committed to make amounts available in instalments, allocate each installment to the earliest period in which the entity can be required to pay. For example, include an undrawn loan commitment in the time band containing the earliest date it can be drawn down The amounts disclosed in the maturity analysis are the contractual undiscounted cash ows, for example: (a) gross nance lease obligations (before deducting nance charges); (b) prices specied in forward agreements to purchase nancial assets for cash; (c) net amounts for pay-oating/receive-xed interest rate swaps for which net cash ows are exchanged; (d) contractual amounts to be exchanged in a derivative nancial instrument (for example, a currency swap) for which gross cash ows are exchanged; and (e) gross loan commitments. Such undiscounted cash ows differ from the amount included in the balance sheet because the balance sheet amount is based on discounted cash ows. IFRS7 AppdxB15 If appropriate, disclose the analysis of derivative nancial instruments separately from that of non-derivative nancial instruments in the contractual maturity analysis for nancial liabilities required by IFRS7p39(a). For example, it would be appropriate to distinguish cash
IFRS7p38
IFRS7p39
IFRS7p40 AppdxB11
IFRS7 AppdxB14

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ows from derivative nancial instruments and non-derivative nancial instruments if the cash ows arising from the derivative nancial instruments are settled gross. This is because the gross cash outow may be accompanied by a related inow. IFRS7 AppdxB16 When the amount payable is not xed, determine the amount disclosed by reference to the conditions existing at the reporting date. For example, when the amount payable varies with changes in an index, the amount disclosed may be based on the level of the index at the reporting date. (b) Market risk Sensitivity analysis Unless an entity complies with IFRS7p41, disclose: (a) a sensitivity analysis for each type of market risk to which the entity is exposed at the reporting date, showing how prot or loss and equity would have been affected by changes in the relevant risk variable that were reasonably possible at that date; (b) the methods and assumptions used in preparing the sensitivity analysis; and (c) changes from the previous period in the methods and assumptions used, and the reasons for such changes. If the entity prepares a sensitivity analysis, such as value at risk, that reects interdependencies between risk variables (for example, interest rates and exchange rates) and uses it to manage nancial risks, it may use that sensitivity analysis in place of the analysis specied in IFRS7p40. Also disclose: (a) an explanation of the method used in preparing such a sensitivity analysis, and of the main parameters and assumptions underlying the data provided; and (b) an explanation of the objective of the method used and of limitations that may result in the information not fully reecting the fair value of the assets and liabilities involved. Other market risk disclosures When the sensitivity analyses disclosed in accordance with IFRS7p40 or IFRS7p41 are unrepresentative of a risk inherent in a nancial instrument (for example, because the year-end exposure does not reect the exposure during the year), disclose that fact and the reason the sensitivity analyses are unrepresentative. Apply IFRS 7 for annual periods beginning on or after 1 January 2007. Earlier application is encouraged. If an entity applies this IFRS for an earlier period, disclose that fact.
IFRS7p40 AppdxB17-28
IFRS7p41 AppdxB17-28
IFRS7p42
IFRS7p42
15. Capital disclosures

1p124A The entity should disclose information that enables users of its nancial statements to evaluate its objectives, policies and processes for managing capital. To comply with paragraph 124A, the entity should disclose the following: (a) qualitative information about its objectives, policies and processes for managing capital, including (but not limited to): (i) a description of what it manages as capital; (ii) when an entity is subject to externally imposed capital requirements, the nature of those requirements and how those
1p124B
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(b)
(c) (d) (e)
requirements are incorporated into the management of capital; and (iii) how it is meeting its objectives for managing capital; summary quantitative data about what it manages as capital. Some entities regard some nancial liabilities (for example, some forms of subordinated debt) as part of capital. Other entities regard capital as excluding some components of equity (for example, components arising from cash ow hedges); any changes in (a) and (b) from the previous period; whether during the period it complied with any externally imposed capital requirements to which it is subject; and when the entity has not complied with such externally imposed capital requirements, the consequences of such non-compliance.
These disclosures should be based on the information provided internally to the entitys key management personnel. 1p124C An entity may manage capital in a number of ways and be subject to a number of different capital requirements. For example, a conglomerate may include entities that undertake insurance activities and banking activities, and those entities may also operate in several jurisdictions. When an aggregate disclosure of capital requirements and how capital is managed would not provide useful information or distorts a nancial statement users understanding of an entitys capital resources, the entity should disclose separate information for each capital requirement to which the entity is subject.
16. Financial guarantees

Amendments to IAS 39 and IFRS 4, Financial Guarantee Contracts, was issued in August 2005. The issuer of nancial guarantee contracts may elect to apply either IFRS 4 (if the entity has previously asserted explicitly that it regards such contracts as insurance contracts and has used accounting applicable to insurance contracts) or IAS 39 for measurement of nancial guarantee contracts. If the entity elects to apply IFRS 4, it should comply with IFRS 4 disclosure requirements to such contracts (refer to Section E). If the entity elects to apply IAS 39 for measurement of nancial guarantee contracts, it should comply with IFRS 7 disclosure requirements for these contracts. 39p103B, IFRS4p41A An entity should apply these amendments for annual periods beginning on or after 1 January 2006. Earlier application is encouraged. If an entity applies these changes for an earlier period, it should disclose that fact and apply the related amendments to IFRS 7 and IFRS 4 at the same time.
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A9 Non-current assets held for sale and discontinued operations

The following disclosures are required when an entity has non-current assets held for sale and/or discontinued operations as dened by IFRS 5. IFRS5p38 1p68A IFRS5p38 1p68A 1. Present separately from other assets in the balance sheet a noncurrent asset classied as held for sale and the assets of a disposal group classied as held for sale (within current assets). The assets and liabilities of a disposal group should not be offset and should not be presented as a single amount. Present the liabilities of a disposal group classied as held for sale separately (classied as current liabilities) from other liabilities in the balance sheet. Disclose separately the major classes of assets and liabilities classied as held for sale either on the face of the balance sheet or in the notes to the nancial statements. Disclosure of the major classes of assets and liabilities is not required if the disposal group is a newly acquired subsidiary that meets the criteria to be classied as held for sale on acquisition. 4. Disclose separately any cumulative income or expense recognised directly in equity relating to a non-current asset (or disposal group) classied as held for sale. Amounts presented for non-current assets or for the assets and liabilities of disposal groups classied as held for sale in the balance sheets for prior periods should not be reclassied or re-presented to reect the classication in the balance sheet for the latest period presented. For a non-current asset (or disposal group) held for sale, disclose: (a) a description of the non-current asset (or disposal group); (b) a description of the facts and circumstances leading to the expected disposal and the expected manner and timing of that disposal; (c) the gain or loss recognised as a result of remeasurement to fair value less costs to sell, and if not separately presented on the face of the income statement, the caption in the income statement that includes that gain or loss; and (d) the segment in which the non-current asset (or disposal group) is presented under IAS 14, if applicable. Disclose the information specied in para 5 (a), (b) and (d) above in the notes if the criteria for classication of non-current assets (or disposal groups) as held for sale (see IFRS 5 paras 7 and 8) are met after the balance sheet date but before the authorisation of the nancial statements for issue. If a non-current asset (or disposal group) ceases to be held for sale, a description of the facts and circumstances leading to the decision to change the plan to sell the non-current asset (or disposal group) should be disclosed together with the effect of the decision on the results of operations for the period and any prior periods presented. For discontinued operations, disclose the following for all periods presented: (a) a single amount on the face of the income statement comprising the total of:
2.
IFRS5p38
3.
IFRS5p39
IFRS5p38
IFRS5p40
5.
IFRS5p41
6.
IFRS5p12
7.
IFRS5p42
8.
IFRS5p33
9.
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12p81(h)
(i) the post-tax prot or loss of discontinued operations; and (ii) the post-tax gain or loss recognised on the remeasurement to fair value less costs to sell or on the disposal of the assets or disposal group(s) constituting the discontinued operation; and (b) an analysis of the single amount in (a) above into: (i) the revenue, expenses and pre-tax prot or loss of discontinued operations; (ii) the related income tax expense as required by IAS 12 para 81(h); and (iii) the tax expense relating to: the gain or loss on discontinuance; the prot or loss from the ordinary activities of the discontinued operation for the period, together with the corresponding amounts for each prior period presented. The analysis may be given in the notes or on the face of the income statement. If it is given on the face of the income statement, it should be presented in a section relating to discontinued operations separate from continuing operations. The analysis is not required if the disposal group is a newly acquired subsidiary that meets the criteria to be classied as held for sale on acquisition.
IFRS5p34
10. Re-present the disclosures in para 7 above and Section A6.2 para 6 for prior periods presented in the nancial statements so that the disclosures relate to all operations that have been discontinued by the balance sheet date for the latest period presented. 11. Present separately in discontinued operations any adjustments in the current period to amounts previously presented in discontinued operations that are directly related to the disposal of a discontinued operation in a prior period. The nature and amount of such adjustments should be disclosed. 12. If a component of an entity ceases to be classied as held for sale, the results of operations of the component previously presented in discontinued operations should be reclassied and included in income from continuing operations for all periods presented. Disclose the amounts for prior periods as having been re-presented.
IFRS5p35
IFRS5p36
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Section B Disclosures required for all entities but only in certain situations
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B1 Correction of prior-period errors

8p49 1. Disclose: (a) the nature of the prior-period error; (b) for each prior period presented, to the extent practicable, the amount of the correction: (i) for each nancial statement line item affected; and (ii) if IAS 33 applies to the entity, the impact on basic and diluted earnings per share; (c) the amount of the correction at the beginning of the earliest prior period presented; and (d) if retrospective restatement is impracticable for a particular prior period, the circumstances that led to the existence of that condition and a description of how and from when the error has been corrected. These disclosures need not be repeated in the financial statements of subsequent periods.
8p49
B2 Reporting in the currency of a hyperinationary economy

1p110 29p39(a) 1. 2. Disclose accounting policies. Disclose the fact that the nancial statements and the corresponding gures for previous periods have been restated for the changes in the general purchasing power of the functional currency and, as a result, are stated in terms of the measuring unit current at the balance sheet date. Disclose whether the nancial statements are based on a historical cost approach or a current cost approach. Provide the following information: (a) the identity of the price index; (b) the level of the price index at the balance sheet date; and (c) the movement in the index during the current and previous reporting period. It is useful to disclose the three years cumulative inflation at the balance sheet date for each of the periods presented in the financial statements. Disclose the gain or loss on the net monetary position (dened by IAS 29 para 27) included in net income. This is usually disclosed as a separate line above profit/loss before taxation in the income statement. The results and financial position of an entity whose functional currency is the currency of a hyperinflationary economy should be translated into a different presentation currency using the following procedures: (a) all amounts (assets, liabilities, equity items, and income and expenses, including comparatives) should be translated at the closing rate at the date of the most recent balance sheet, except: (b) when amounts are translated into the currency of a non-hyperinflationary economy, comparative amounts should be those that were presented as current year amounts in the relevant prior year financial statements (not adjusted for subsequent changes in the price level or subsequent changes in exchange rates).
29p39(b) 29p39(c)
3. 4.
29p9
5.
21p42
6.
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21p43
7.
When an entity s functional currency is the currency of a hyperinflationary economy, the entity should restate its financial statements in accordance with IAS 29 before applying the translation method set out in IAS 21 para 42, except for comparative amounts that are translated into a currency of a non-hyperinflationary economy (refer to IAS 21 para 42(b)). When the economy ceases to be hyperinflationary and the entity no longer restates its financial statements in accordance with IAS 29, it should use as the historical costs to translate into the presentation currency the amounts restated to the price level at the date the entity ceased restating its financial statements.
B3 Uncertainties about going concern

1p23 1. Disclose material uncertainties relating to events or conditions that may cast signicant doubt upon the entitys ability to continue as a going concern. In the extremely rare situation where the going-concern basis has not been used, disclose that fact together with the reasons and the basis actually used to prepare the nancial statements.
1p23
2.
B4 Departure from IFRS

1p18 1. In the extremely rare situations where departure from IFRS is necessary to achieve a fair presentation, an entity may depart from IFRS if the relevant regulatory framework requires it or does not prohibit such a departure. In these circumstances, disclose: (a) that management has concluded that the nancial statements fairly present the entitys nancial position, nancial performance and cash ows; (b) that it has complied in all material respects with applicable standards and interpretations, except that it has departed from a particular requirement to achieve a fair presentation; (c) the standard or interpretation from which the entity has departed, the nature of the departure, including the treatment that the standard or interpretation would require, the reason why that treatment would be misleading in the circumstances and the treatment adopted; and (d) for each period presented, the nancial impact of the departure on each item in the nancial statements that would have been reported in complying with the requirement. If an entity has departed from a requirement of a standard or an interpretation in a prior period, and that departure affects the amounts recognised in the nancial statements for the current period, disclose point (c) and (d) above. In the extremely rare situations where departure from an IFRS is necessary to achieve a fair presentation but the relevant regulatory framework prohibits such a departure, disclose: (a) the title of the standard or interpretation in question, the nature of the requirement, and the reason why management has concluded that complying with that requirement would be misleading in the circumstances; and (b) for each period presented, the adjustment to each item in the nancial statements that management has concluded would be necessary to achieve a fair presentation.
2.
1p21
3.
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B5 Change of year-end
1p49 1. When an entity changes its year-end, and its nancial statements are presented for a period longer or shorter than one year, disclose: (a) the reason for a period other than one year being used; and (b) the fact that comparative amounts for the income statement, changes in equity, cash ows and related notes are not comparable.
B6 Intermediate parent company consolidated nancial statements not presented

27p10 A parent that is a wholly owned subsidiary need not present consolidated financial statements. If the parent is wholly or partially owned, it need not present consolidated financial statements if it informs the owners, including those not otherwise entitled to vote, and they do not object. 1. When separate nancial statements are prepared for a parent that, in accordance with IAS 27 para 10, elects not to prepare consolidated nancial statements, those separate nancial statements should disclose: (a) the fact that the nancial statements are separate nancial statements; (b) the fact that the exemption from consolidation has been used; (c) the name and country of incorporation or residence of the entity whose consolidated nancial statements that comply with IFRS have been produced for public use; and (d) the address where those consolidated nancial statements are obtainable. (e) a list of signicant investments in subsidiaries, jointly controlled entities and associates, including: (i) the name; (ii) country of incorporation or residence; (iii) proportion of ownership interest; and (iv) if different, proportion of voting power held; and (f) a description of the method used to account for the investments listed under (b) above.
27p41
B7 Share-based payments
IFRS2p44 1. Provide information that enables users of the nancial statements to understand the nature and extent of share-based payment arrangements that existed during the period. The entity should disclose at least the following: (a) a description of each type of share-based payment arrangement that existed at any time during the period, including the general terms and conditions of each arrangement, such as: (i) vesting requirements, (ii) the maximum term of options granted, (iii) the method of settlement (for example, whether in cash or equity). An entity with substantially similar types of share-based payment arrangements may aggregate this information, unless separate disclosure of each arrangement is necessary to enable users of the financial statements to understand the nature and extent of share-based payment arrangements that existed during the period.
IFRS2p45(a)
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IFRS2p45(b)
IFRS2p45(c)
IFRS2p45(d)
(b) the number and weighted average exercise prices of share options for each of the following groups of options: (i) outstanding at the beginning of the period; (ii) granted during the period; (iii) forfeited during the period; (iv) exercised during the period; (v) expired during the period; (vi) outstanding at the end of the period; and (vii) exercisable at the end of the period. (c) the weighted average share price at the date of exercise for share options exercised during the period. The entity may instead disclose the weighted average share price during the period if options were exercised on a regular basis throughout the period. (d) for share options outstanding at the end of the period: (i) the range of exercise prices; and (ii) weighted average remaining contractual life. If the range of exercise prices is wide, the outstanding options should be divided into ranges that are meaningful for assessing the number and timing of additional shares that may be issued and the cash that may be received upon exercise of those options. 2. Provide information that enables users of the nancial statements to understand how the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period was determined (refer to paras 3, 4 and 5 below). If the entity has measured the fair value of goods or services received as consideration for equity instruments of the entity indirectly, by reference to the fair value of the equity instruments granted, disclose at least the following: (a) for share options granted during the period, the weighted average fair value of those options at the measurement date and information on how that fair value was measured, including: (i) the option pricing model used and the inputs to that model, including: the weighted average share price, exercise price, expected volatility, option life, expected dividends, the risk-free interest rate, and any other inputs to the model, including the method used and the assumptions made to incorporate the effects of expected early exercise; (ii) how expected volatility was determined, including an explanation of the extent to which expected volatility was based on historical volatility; and (iii) whether and how any other features of the option grant were incorporated into the measurement of fair value, such as a market condition; (b) for other equity instruments granted during the period (other than share options), the number and weighted average fair value of those equity instruments at the measurement date, and information on how that fair value was measured, including:
IFRS2p46
IFRS2p47
3.
IFRS2p47(a)
IFRS2p47(b)
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IFRS2p47(c)
IFRS2p48
4.
If the entity has measured directly the fair value of goods or services received during the period, disclose how that fair value was determined; for example, whether fair value was measured at a market price for those goods or services. If the entity has rebutted the presumption that fair value of goods and services other than employee services can be estimated reliably, disclose that fact and give an explanation of why the presumption was rebutted. Provide information that enables users of the nancial statements to understand the effect of share-based payment transactions on the entitys prot or loss for the period and on its nancial position. At least the following should be disclosed: (a) the total expense recognised for the period arising from sharebased payment transactions in which the goods or services received did not qualify for recognition as assets and were recognised immediately as an expense, including separate disclosure of that portion of the total expense that arises from transactions accounted for as equity-settled share-based payment transactions; and (b) for liabilities arising from share-based payment transactions: (i) the total carrying amount at the end of the period; and (ii) the total intrinsic value at the end of the period of liabilities for which the counterpartys right to cash or other assets had vested by the end of the period (for example, vested share appreciation rights). Disclose additional information that is necessary to enable users of the nancial statements to understand the nature and extent of share-based payment arrangements that existed during the period, how fair value of the goods or services received or fair value of equity instruments granted during the period was determined and the effect of the share-based payment arrangements on prot or loss for the period and on nancial position.
IFRS2p49
5.
IFRS2p50
6.
IFRS2p51
IFRS2p52
7.
71
if fair value was not measured on the basis of an observable market price, how it was determined; (ii) whether and how expected dividends were incorporated into the measurement of fair value; and (iii) whether and how any other features of the equity instruments granted were incorporated into the measurement of fair value; and (c) for share-based payment arrangements that were modied during the period: (i) an explanation of those modications; (ii) the incremental fair value granted (as a result of those modications); and (iii) information on how the incremental fair value granted was measured, consistently with the requirements set out in (a) and (b) above, where applicable.
(i)
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B8 First-time adoption of IFRS

IFRS1p36 IFRS1p37 1. 2. The rst IFRS nancial statements should include at least one year of comparative information under IFRS. If the rst IFRS nancial statements contain historical summaries or comparative information under previous GAAP as explained in Sections B8.6 and B8.7: (a) label the previous GAAP information prominently as not being prepared under IFRS; and (b) disclose the nature of the main adjustments that would make it comply with IFRS (quantication of those adjustments is not required).
2. Explanation of transition to IFRS

IFRS1p38 1. Provide an explanation of how the transition from previous GAAP to IFRS affected the reported nancial position, nancial performance and cash ows. The rst IFRS nancial statements should include: (a) reconciliations of the entitys equity reported under previous GAAP to its equity under IFRS for both of the following dates: (i) the date of transition to IFRS; and (ii) the end of the latest period presented in the entitys most recent annual nancial statements under previous GAAP; (b) a reconciliation of the prot or loss reported under previous GAAP for the latest period in the entitys most recent annual nancial statements to its prot or loss under IFRS for the same period; and (c) if the entity recognised or reversed any impairment losses for the rst time in preparing its opening IFRS balance sheet, the disclosures that IAS 36 would have required if the entity had recognised those impairment losses or reversals in the period beginning with the date of transition to IFRS. The reconciliations required should give sufcient detail to enable users to understand the material adjustments to the balance sheet and income statement. 3. 4. Disclose material adjustments to the cash ow statement, if an entity presented a cash ow statement under its previous GAAP. If an entity becomes aware of errors made under previous GAAP, the reconciliations required by IFRS 1 paras 9(a) and (b) should distinguish the correction of those errors from changes in accounting policies. If an entity did not present nancial statements for previous periods, its rst IFRS nancial statements should disclose that fact.
IFRS1p39
2.
IFRS1p40
IFRS1p40 IFRS1p41
IFRS1p43
5.
72
Y-NA-NM
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3. Designation of nancial assets or nancial liabilities

IFRS1p43A 1. Disclose the fair value of any nancial assets or nancial liabilities designated at fair value through prot or loss or as available for sale and the carrying amount in the previous nancial statements.
4. Use of fair value as deemed cost

IFRS1p44 1. If fair value is used as deemed cost for an item of property, plant and equipment, an investment property or an intangible asset (refer to IFRS 1 paras 16 and 18), the rst IFRS nancial statements should disclose, for each line item in the opening IFRS balance sheet: (a) the aggregate of those fair values; and (b) the aggregate adjustment to the carrying amounts reported under previous GAAP.
5. Interim nancial reports

IFRS1p45 1. Interim nancial report under IAS 34 for part of the period covered by rst IFRS nancial statements should include reconciliations of: (a) equity under previous GAAP at the end of the comparable interim period to equity under IFRS at that date; and (b) prot or loss under previous GAAP for the comparable interim period (current and year-to-date) to prot or loss under IFRS for that period. In addition to the reconciliations required by (a) and (b) above, an entitys rst interim nancial report under IAS 34 for part of the period covered by its rst IFRS nancial statements should include the reconciliations described in IFRS 1 para 39(a) and (b) (supplemented by the details required by IFRS 1 paras 40 and 41) or a crossreference to another published document that includes these reconciliations. IFRS1p46 2. If a rst-time adopter did not disclose information material to an understanding of the current interim period in its most recent annual nancial statements under previous GAAP, its interim nancial report should disclose that information or include a cross-reference to another published document that includes it.
6. Exemption from restating comparatives for IAS 39 and IFRS 4

IFRS1p36A 1. In its rst IFRS nancial statements, an entity that adopts IFRS before 1 January 2006 should present at least one year of comparative information. This comparative information need not comply with IAS 32, IAS 39 and IFRS 4. An entity that chooses to present comparative information that does not comply with IAS 32, IAS 39 and IFRS 4 in its rst year of transition should: (a) apply its previous GAAP in the comparative information to nancial instruments within the scope of IAS 32 and IAS 39 and to insurance contracts within the scope of IFRS 4; (b) disclose this fact, together with the basis used to prepare this information; and (c) disclose the nature of the main adjustments that would make the information comply with IAS 32, IAS 39 and IFRS 4. The entity need not quantify those adjustments. However, it should treat any adjustment between the balance sheet at the comparative
73
Y-NA-NM
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periods reporting date (the balance sheet that includes comparative information under previous GAAP) and the balance sheet at the start of the rst IFRS reporting period (the rst period that includes information that complies with IAS 32, IAS 39 and IFRS 4) as arising from a change in accounting policy and should give the disclosures required by IAS 8 para 28(a)-(f) and (i). IAS 8 para 28(f)(i) applies only to amounts presented in the balance sheet at the comparative periods reporting date.
7. Exemption from providing comparative disclosures for IFRS 6

IFRS1p36B An entity that adopts IFRS before 1 January 2006 and that chooses to early adopt IFRS 6 does not need to apply IFRS 6 to comparative information presented in its rst IFRS nancial statements.
8. Exemption from providing comparative disclosures for IFRS 7

IFRS1p36C An entity that adopts IFRS before 1 January 2006 and chooses to early adopt IFRS 7 in its rst IFRS nancial statements does not need to present the comparative disclosures required by IFRS 7 in those nancial statements.
74
Section C Industry-specic disclosures
75
76
International Financial Reporting Standards Disclosure checklist 2007 Sections C1-C2
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REF
C1 Construction contracts
1p110 11p39(b) 11p39(c) 11p39(a) 11p40 2. 3. 1. Disclose in accounting policies: (a) the methods used to determine the contract revenue recognised in the period; and (b) the methods used to determine the stage of completion of contracts in progress. Disclose the amount of contract revenue recognised as revenue in the period. For construction contracts in progress at the balance sheet date, disclose: (a) the aggregate amount of costs incurred and recognised prots (less recognised losses) to date; (b) the amount of advances received; and (c) the amount of retentions. Present on the balance sheet: (a) the gross amount due from customers for contract work as an asset; and (b) the gross amount due to customers for contract work as a liability.
11p42
4.
C2 Agriculture
17p32, 57 The disclosure requirements of IAS 41 apply to owned biological assets and to the amounts of leased biological assets held under nance leases in the lessees accounts. 1. 2. Provide a description of each group of biological assets (narrative or quantied description). Disclose the aggregate gain or loss arising during the current period on initial recognition of biological assets and agricultural produce and from the change in fair value less estimated point-of-sale costs of biological assets. Describe, if it has not been disclosed elsewhere in information published with the nancial statements: (a) the nature of activities involving each group of biological assets; and (b) non-nancial measures or estimates of the physical quantities of: (i) each group of the entitys biological assets at the end of the period; and (ii) the output of agricultural produce during the period. Disclose the methods and signicant assumptions applied in determining the fair value of each group of agricultural produce at the point of harvest and each group of biological assets. Disclose the fair value less estimated point-of-sale costs of agricultural produce harvested during the period, determined at the point of harvest. Disclose: (a) the existence and carrying amounts of biological assets whose title is restricted, and the carrying amounts of biological assets
41p41, 42 41p40
41p46
3.
41p47
4.
41p48
5.
41p49
6.
77
International Financial Reporting Standards Disclosure checklist 2007 Section C2
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pledged as security for liabilities; (b) the amount of commitments for the development or acquisition of biological assets; and (c) nancial risk management strategies related to agricultural activity. 41p50 7. Present a reconciliation of changes in the carrying amount of biological assets between the beginning and the end of the current period. Comparative information is not required. The reconciliation should include: (a) the gain or loss arising from changes in fair value less estimated point-of-sale costs. Entities are encouraged to disclose by group or otherwise the amount due to physical changes and due to price changes; (b) increases due to purchases; (c) decreases due to sales and biological assets classied as held for sale (or included in a disposal group that is classied as held for sale) in accordance with IFRS 5; (d) decreases due to harvest; (e) increases resulting from business combinations; (f) net exchange differences arising on the translation of nancial statements into a different presentation currency and on the translation of a foreign operation into the reporting entitys presentation currency; and (g) other changes. This reconciliation should separately identify any biological assets measured at cost loss accumulated depreciation and any accumulated impairment losses in accordance with IAS 41para 30. 8. Disclose the following related to agricultural activity: (a) the nature and extent of government grants recognised in the nancial statements; (b) unfullled conditions and other contingencies relating to government grants; and (c) signicant decreases expected in the level of government grants. Provide a quantied description of each group of biological assets, distinguishing between consumable and bearer biological assets or between mature and immature biological assets, as appropriate.
DV41p51
41p55
41p57
DV41p43
9.
2. Additional disclosures where fair value of biological assets cannot be measured

41p54 1. When fair value of biological assets cannot be measured and cost is used, disclose: (a) a description of the biological assets; (b) an explanation of why fair value cannot be measured reliably; (c) if possible, the range of estimates within which fair value is highly likely to lie; (d) the depreciation method used; (e) the useful lives or the depreciation rates used; and (f) the gross carrying amount and the accumulated depreciation (aggregated with accumulated impairment losses) at the beginning and end of the period. Disclose any gain or loss recognised on disposal of biological assets. Disclose details of the following amounts included in
41p55
2.
78
Y-NA-NM
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net prot or loss related to those biological assets: (a) impairment losses; (b) reversals of impairment losses; and (c) depreciation. 41p56 3. If an entity changes from cost to fair value during the current period, disclose: (a) a description of the biological assets; (b) an explanation of why fair value has become reliably measurable; and (c) the effect of the change.
C3 Public service concession arrangements

SIC29p6, 7 1. For concession operators or concession providers, disclose the following in each period individually for each service concession arrangement or in aggregate for each class of service concession arrangement: (a) a description of the arrangement; (b) signicant terms of the arrangement that may affect the amount, timing and certainty of future cash ows (for example, the period of the concession, re-pricing dates and the basis on which re-pricing or renegotiation is determined); (c) the nature and extent (for example, quantity, time period or amount, as appropriate) of; (i) rights to use specied assets; (ii) obligations to provide or rights to expect provision of services; (iii) obligations to acquire or to build items of property, plant and equipment; (iv) obligations to deliver or rights to receive specied assets at the end of the concession period; (v) renewal and termination options; and (vi) other rights and obligations (for example, major overhauls); and (d) changes in the arrangement occurring during the period.
C4 Accounting by a lessor
Leases are nancial instruments; the disclosure requirements of IFRS 7 apply also to leases. Refer to Section A8.
1. Lessors nance leases

17p47 1. Disclose: (a) a reconciliation between the total gross investment in the lease at the balance sheet date and the present value of minimum lease payments receivable at the balance sheet date; (b) the total gross investment in the lease and the present value of minimum lease payments receivable at the balance sheet date, for each of the following three periods: (i) no later than one year; (ii) later than one year and no later than ve years; and (iii) later than ve years; (c) unearned nance income; (d) the unguaranteed residual values accruing to the benet of the lessor;
79
Y-NA-NM
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(e) the accumulated allowance for uncollectable minimum lease payments receivable; (f) contingent rents recognised in income; and (g) a general description of the lessors signicant leasing arrangements. 17p65 2. The disclosure requirements set out in para 1 above also apply to sale and leaseback transactions. Any unique or unusual provisions of the agreements or terms of the sale and leaseback transactions should be separately disclosed. The disclosure requirements set out in para 1 above also apply to leases under IFRIC 4.
IFRIC4pBC39 3.
2. Lessors operating leases

17p56, 57 1. Disclose: (a) for each class of asset: (i) gross carrying amount; (ii) accumulated depreciation; (iii) accumulated impairment loss; (iv) depreciation charge for the period; (v) impairment losses recognised for the period; and (vi) impairment losses reversed for the period; (b) the future minimum lease payments under non-cancellable operating leases, in total and for each of the following three periods after the balance sheet date: (i) no later than one year; (ii) later than one year and no later than ve years; and (iii) later than ve years; (c) total contingent rents included in income; and (d) a general description of the lessors signicant leasing arrangements. The disclosure requirements set out in para 1 above also apply to sale and leaseback transactions. Any unique or unusual provisions of the agreements or terms of the sale and leaseback transactions should be separately disclosed. The disclosure requirements set out in para 1 above also apply to leases under IFRIC 4.
17p65
2.
IFRIC4pBC39 3.
3. Arrangements that do not involve a lease in substance

SIC27p10, 11 Certain special disclosures apply over the legal form of leases. Refer to Section A5.18(c).
C5 Decommissioning, restoration and environmental rehabilitation funds

IFRIC 5 interpretation Rights to Interests arising from Decommissioning, Restoration and Environmental Rehabilitation Funds, effective from 1 January 2006, explains how to treat expected reimbursements from funds set up to meet the costs of decommissioning plant (such as nuclear plant) or equipment (such as cars) or in undertaking environmental restoration or rehabilitation (such as rectifying pollution of water or restoring mined land).
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International Financial Reporting Standards Disclosure checklist 2007 Section C5
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REF
IFRIC5p4
This interpretation applies to accounting in the financial statements of a contributor for interests arising from decommissioning funds that have both of the following features: (a) the assets are administered separately (either by being held in a separate legal entity or as segregated assets within another entity); and (b) a contributor s right to access the assets is restricted. A residual interest in a fund that extends beyond a right to reimbursement, such as a contractual right to distributions once all the decommissioning has been completed or on winding up the fund, may be an equity instrument within the scope of IAS 39 and is not within the scope of this interpretation.
IFRIC5p11 IFRIC5p12
1. 2.
A contributor should disclose the nature of its interest in a fund and any restrictions on access to the assets in the fund. When a contributor has an obligation to make potential additional contributions that is not recognised as a liability (refer to IFRIC 5 para 10), it should make the disclosures required by IAS 37 para 86 (refer to Section A5.23.) When a contributor accounts for its interest in the fund in accordance with IFRIC 5 para 9, it should make the disclosures required by IAS 37 para 85(c) (refer to Section A5.16).
IFRIC5p13
3.
81
82
Section D Additional disclosures required for listed companies
83
84
International Financial Reporting Standards Disclosure checklist 2007 Section D1
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D1 Segment reporting
14p3 14p4 The segment information in IAS 14 must be given in the IFRS financial statements of entities whose equity or debt securities are publicly traded or that are in the process of issuing equity or debt securities in public securities markets. Other entities that prepare IFRS financial statements are encouraged to give segment disclosures; if they choose to give such information, they must comply fully with IAS 14. For the detailed rules on determining the segments to be reported in the financial statements, refer to IAS 14 paras 9, 16, 26, 27, 34-37, 41-43, 44 and 47. Refer also to IAS 14, Appendix B, which contains an illustration of the disclosures required for primary and secondary segment reporting formats. 14p81 14p81 14p81 1. 2. Disclose the types of product and service included in each reported business segment. Disclose the composition of each reported geographical segment. If the information required by IAS 14 para 81 is disclosed elsewhere in the annual report, for example in the financial review, it need not be repeated in the financial statements.
14p5
2. Primary segment format

14p50 14p51 1. Disclose for each reportable segment in the entitys primary segment reporting format: (a) segment revenue analysed as follows: (i) sales to external customers; and (ii) revenue from transactions with other segments. (b) segment result presenting the result from continuing operations separately from the result from discontinued operations. An entity should restate segment results in prior periods presented in the nancial statements so that the disclosures required by IAS 14 para 52 on discontinued operations relate to all operations that had been classied as discontinued at the balance sheet date of the latest period presented; (c) total segment assets; (d) segment liabilities; (e) capital expenditure on property, plant and equipment and on intangible assets. This disclosure should be on an accruals basis, not on a cash basis. It should include both additions and acquisitions through business combinations including goodwill; (f) depreciation and amortisation expense; and (g) total amount of signicant non-cash expenses, other than depreciation and amortisation, charged to the segment result (for example, segment charges). If the entity provides the segment cash flow disclosures that are encouraged by IAS 7 para 50(d), it need not also disclose depreciation and amortisation expense or significant non-cash expenses. 2. Disclose the nature and amount of any items of segment revenue and segment expense that are of such size, nature or incidence that their disclosure is relevant to explain the performance of each
14p52 14p52(A)
14p55 14p56 14p57
14p58 14p61
14p63
DV14p59
85
Section D Addtional dislosures required for listed companies
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reportable segment for the period (for example, the items listed in IAS 1 para 87). 14p64 3. Disclose the aggregate of the entitys share of the net prot or loss of associates, joint ventures (where the equity method is used for joint ventures), or other investments accounted for under the equity method for each reportable segment. However, this requirement only applies if substantially all of those associates operations are within a single segment. If the requirement in para 3 above applies, the aggregate investments in those associates, joint ventures or other investments should also be disclosed for each reportable segment. For each reportable primary segment, disclose: (a) the amount of impairment losses recognised: (i) in the income statement; and (ii) directly in equity; (b) the amount of reversals of impairment losses recognised: (i) in the income statement; and (ii) directly in equity. Where the impairment loss recognised or reversed is material to the nancial statements taken as a whole, the following additional disclosures are required: (a) for an individual asset the segment to which the asset belongs, based on the primary format; and (b) for a cash-generating unit (CGU) description of the CGU (for example, whether it is a business operation, geographical area or reportable segment under IAS 14) and the impairment loss recognised or reversed, by reportable segment based on the primary format. A reconciliation between the information disclosed for reportable segments and the aggregate information in the consolidated or entity nancial statements. As a minimum, the following specic reconciliation requirements apply: (a) segment revenue reconciled to the entitys revenue from external customers, including disclosure of other revenue (revenue from external customers not included in any segments revenue); (b) segment result reconciled to a comparable measure of the entitys operating prot or loss from continuing operations, as well as to the entitys net prot or loss from continuing operations; (c) segment assets reconciled to the entitys assets; (d) segment liabilities reconciled to the entitys liabilities; and (e) segment result from discontinued operations reconciled to prot or loss from discontinued operations. Additional disclosures required, if geographical segments are primary segment format (either (a) or (b) should be applied): (a) if the primary segment format is geographical segments by location of assets, and the location of customers differs from the location of assets, disclose the revenue from sales to external customers for each customer-based geographical segment (sales by destination) whose revenue from sales to external customers is 10% or more of total sales; and (b) if the primary segment format is geographical segments by location of customers, and the assets are located in different
14p66
4.
36p129
5.
36p130
6.
36p130(c) 36p130(d)
14p67
7.
14p71
8.
14p72
86
Y-NA-NM
REF
geographical areas from the customers, disclose the following segment information for each asset-based geographical segment whose revenue from sales to external customers or segment assets are 10% or more of the group totals: (i) total of segment assets by geographical location of the assets; and (ii) capital expenditure on property, plant and equipment and on intangible assets by location of the assets (determined on an accruals basis, not a cash basis. This disclosure includes both additions and acquisitions through business combinations including goodwill.).
3. Secondary segment format

The disclosures in either paras 1 or 2 below (IAS 14 paras 69 or 70) apply, depending on whether the secondary segment format is geographical segments or business segments. 14p69 1. If the geographical segments are the secondary segment format, disclose for each geographical segment, item (a) below where the revenues are 10% or more of total consolidated sales, and items (b) and (c) where the assets are 10% or more of total assets: (a) segment revenue from external customers by geographical area based on geographical location of customers (sales by destination); (b) total of segment assets by geographical location of assets; and (c) capital expenditure on property, plant and equipment and on intangible assets by geographical location of assets (determined on an accruals basis not a cash basis. This disclosure includes both additions and acquisitions through business combinations including goodwill.). If the business segments are the secondary segment format, disclose the following segment information for each business segment where the revenues are 10% or more of total consolidated sales, or where the assets are 10% or more of total assets: (a) segment revenue from external customers; (b) total of segment assets; and (c) capital expenditure on property, plant and equipment and on intangible assets (determined on an accruals basis, not a cash basis. This disclosure includes both additions and acquisitions through business combinations including goodwill). In relation to paras 1 and 2 above, it is useful to reconcile the totals to the consolidated amounts.
14p70
2.
3.
14p74 1. A business segment or geographical segment for which information is reported to the board of directors and chief executive ofcer is not a reportable segment under IAS 14 if it earns a majority of its revenue from sales to other segments (often referred to in practice as a vertically integrated segment). However, if that segments revenue from sales to external customers is 10% or more of the entitys total external revenue, disclose that fact and the amounts of that segments revenue from: (a) sales to external customers; and (b) internal sales to other segments.
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International Financial Reporting Standards Disclosure checklist 2007 Sections D1-D2
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14p75
2.
For inter-segment transfers, disclose: (a) the basis of pricing; and (b) any changes in the basis of pricing inter-segment transfers. Inter-segment transfers should be measured for segment reporting purposes on the basis that the entity actually used to price those transfers.
14p76
3.
Changes in accounting policies adopted for segment reporting that have a material effect on segment information restate prior period segment information unless it is impracticable to do so, and: (a) describe the nature of the change; (b) describe the reason for the change; (c) describe the fact that comparative information has been restated or that it is impracticable to do so; and (d) describe the nancial effect of the change, if it is reasonably determinable. Changes in identication of the segments restate comparatives under the new basis unless this is impracticable. If restatement is impracticable, disclose the current year segment data under both the old and the new basis of segmentation. Previously reported segments that no longer satisfy the quantitative thresholds are not reported separately. An explanation of the reasons why a previously reported segment is no longer reported may be useful in conrming expectations regarding declining markets and changes in the entitys strategies. When an entity adopts IAS 14 for the rst time, the comparative segment data should be restated unless it is not practicable. If it is not practicable, disclose that fact.
14p76
4.
DV14p83
5.
14p84
6.
D2 Earnings per share

33p2, 3 1. An entity that discloses earnings per share should calculate and disclose earnings per share in accordance with IAS 33. Earnings per share disclosures are required for entities whose ordinary shares or potential ordinary shares are publicly traded and for entities that are in the process of issuing ordinary shares or potential ordinary shares in public markets. Present on the face of the income statement basic and diluted earnings per share for prot or loss from continuing operations attributable to the ordinary equity holders of the parent entity, and for prot or loss attributable to the ordinary equity holders of the parent entity for the period for each class of ordinary shares that has a different right to share in prot for the period. An entity should present basic and diluted earnings per share with equal prominence for all periods presented. Earnings per share is presented for every period for which an income statement is presented. If diluted earnings per share is reported for at least one period, it should be reported for all periods presented, even if it equals basic earnings per share. If basic and diluted earnings per share are equal, dual presentation can be achieved in one line on the face of the income statement.
33p66
2.
33p67
3.
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33p68
4.
An entity that reports a discontinuing operation should disclose the basic and diluted amounts per share for the discontinuing operation either on the face of the income statement or in the notes to the nancial statements. Present basic and diluted earnings per share, even if the amounts are negative (a loss per share). Disclose: (a) the amounts used as the numerators in calculating basic and diluted earnings per share, and a reconciliation of those amounts to prot or loss attributable to the parent entity for the period. The reconciliation should include the individual effect of each class of instruments that affects earnings per share; (b) the weighted average number of ordinary shares used as the denominator in calculating basic and diluted earnings per share, and a reconciliation of these denominators to each other. The reconciliation should include the individual effect of each class of instruments that affects earnings per share; and (c) instruments (including contingently issuable shares) that could potentially dilute basic earnings per share in the future, but were not included in the calculation of diluted earnings per share because they are antidilutive for the period(s) presented. Provide a description of ordinary share transactions or potential ordinary share transactions, other than those accounted for in accordance with IAS 33 para 64, that occur after the balance sheet date and that would have changed signicantly the number of ordinary shares or potential ordinary shares outstanding at the end of the period if those transactions had occurred before the end of the reporting period. Examples are provided in IAS 33 para 71.
33p69
5. 6.
33p70(a)
33p70(b)
33p70(c)
33p70(d)
7.
33p72
8.
Financial instruments generating potential ordinary shares may incorporate terms and conditions that affect the measurement of basic and diluted earnings per share. These terms and conditions may determine whether any potential ordinary shares are dilutive and, if so, the effect on the weighted average number of shares outstanding and any consequent adjustments to prot or loss attributable to equity holders. The disclosure of the terms and conditions of such nancial instruments and other contracts is encouraged, if not otherwise required (refer to IFRS 7). If an entity discloses, in addition to basic and diluted earnings per share, amounts per share using a reported component of the income statement other than one required by IAS 33, such amounts should be calculated using the weighted average number of ordinary shares determined in accordance with this standard. Basic and diluted amounts per share relating to such a component should be disclosed with equal prominence and presented in the notes to the nancial statements. An entity should indicate the basis on which the numerator(s) is (are) determined, including whether amounts per share are before tax or after tax. If a component of the income statement is used that is not reported as a line item in the income statement, a reconciliation should be provided between the component used and the line item that is reported in the income statement.
33p73
9.
89
90
Section E Additional disclosures required for entities that issue insurance contracts
92
International Financial Reporting Standards Disclosure checklist 2007 Section E
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Additional disclosures required for entities that issue insurance contracts

1. An insurer should disclose information that identies and explains the amounts in its nancial statements arising from insurance contracts. Disclose at least the following: (a) accounting policies for insurance contracts and related assets, liabilities, income and expense; (b) the recognised assets, liabilities, income and expense (and, if the insurer presents cash ow statement using the direct method, cash ows) arising from insurance contracts. If the insurer is a cedant, it should disclose: (i) gains and losses recognised in prot or loss on buying reinsurance; and (ii) if the cedant defers and amortises gains and losses arising on buying reinsurance, the amortisation for the period and the amounts remaining unamortised at the beginning and end of the period; (c) the process used to determine the assumptions that have the greatest effect on the measurement of the recognised amounts described in (b) above; when practicable, also provide quantied disclosure of those assumptions; (d) the effect of changes in assumptions used to measure insurance assets and insurance liabilities, showing separately the effect of each change that has a material effect on the nancial statements; and (e) reconciliations of changes in insurance liabilities, reinsurance assets and, related deferred acquisition costs, if any. An insurer shall disclose information that enables users of its nancial statements to evaluate the nature and extent of risks arising from insurance contracts. At least the following should be disclosed: (a) its objectives, policies and processes for managing risks arising from insurance contracts and the methods used to manage those risks; (b) [deleted]; (c) information about insurance risk (both before and after risk mitigation by reinsurance), including information about: (i) sensitivity to insurance risk (see IFRS4p39A); (ii) concentrations of insurance risk, including a description of how management determines concentrations and a description of the shared characteristic that identies each concentration (eg type of insured event, geographical area, or curency). (iii) actual claims compared with previous estimates (claims development). The disclosure about claims development should go back to the period when the earliest material claim arose for which there is still uncertainty about the amount and timing of the claims payments, but need not go back more than 10 years. An insurer need not disclose this information for claims for which uncertainty about the amount and timing of claims payments is typically resolved within one year;
IFRS4p36
IFRS4p37
IFRS4p38
2.
IFRS4p39
93
Section E Additional disclosures for entities that issue insurance contracts

94
Section E
Y-NA-NM
REF
(d) information about credit risk, liquidity risk and market risk that paragraphs 31-42 of IFRS 7 would require if the insurance contracts were within the scope of IFRS 7. However: (i) an insurer need not provide the maturity analysis required by paragraph 39(a) of IFRS 7 if it discloses information about the estimated timing of the net cash outows resulting from recognised insurance liabilities instead. This may take the form of an analysis, by estimated timing, of the amounts recognised in the balance sheet. (ii) if an insurer uses an alternative method to manage sensitivity to market conditions, such as an embedded value analysis, it may use that sensitivity analysis to meet the requirement in paragraph 40(a) of IFRS 7. Such an insurer shall also provide the disclosures required by paragraph 41 of IFRS 7. (e) information about exposures to market risk arising from embedded derivatives contained in a host insurance contract if the insurer is not required to, and does not, measure the embedded derivatives at fair value. IFRS7p30 3. Some nancial assets and nancial liabilities contain a discretionary participation feature as described in IFRS 4. If an entity cannot measure reliably the fair value of that feature, disclose that fact together with a description of the contract, its carrying amount, an explanation of why fair value cannot be measured reliably, information about the market for the instrument, information about whether and how the entity intends to dispose of the instrument and, if nancial instruments whose fair value previously could not be reliably measured are derecognised, that fact, their carrying amount at the time of derecognition, and the amount of gain or loss recognised. The issuer need not disclose the amount that would result from applying IAS 39 to the guaranteed element of a participation feature, nor does it need to present that amount separately. The issuer need not determine that amount if the total liability recognised is clearly higher. To comply with paragraph 39(c)(i), an insurer shall disclose either (a) or (b) as follows: (a) a sensitivity analysis that shows how prot or loss and equity would have been affected had changes in the relevant risk variable that were reasonably possible at the balance sheet date occurred; the methods and assumptions used in preparing the sensitivity analysis; and any changes from the previous period in the methods and assumptions used. However, if an insurer uses an alternative method to manage sensitivity to market conditions, such as an embedded value analysis, it may meet this requirement by disclosing that alternative sensitivity analysis and the disclosures required by paragraph 41 of IFRS 7. (b) qualitative information about sensitivity, and information about those terms and conditions of insurance contracts that have a material effect on the amount, timing and uncertainty of the insurers future cash ows.
IFRS4p35(b) 4.
IFRS4p39A
5.
International Financial Reporting Standards Disclosure checklist 2007 Section E
Y-NA-NM
REF
IFRS4p42
6.
An entity need not apply the disclosure requirements in IFRS 4 to comparative information that relates to annual periods beginning before 1 January 2005, except for the disclosures required by IFRS 4 para 37(a) and (b) about accounting policies, and recognised assets, liabilities, income and expense (and cash ows if the direct method is used). If it is impracticable to apply a particular requirement of IFRS 4 paras 10-35 to comparative information that relates to annual periods beginning before 1 January 2005, disclose that fact. Applying the liability adequacy test (IFRS 4 paras 15-19) to such comparative information may be impracticable, but it is unlikely to be impracticable to apply other requirements of IFRS 4 paras 10-35 to such comparative information. IAS 8 explains the term impracticable .
IFRS4p43
7.
IFRS4p44
8.
In applying IFRS 4 para 39(c)(iii) disclosure of actual claims compared with previous estimates an entity need not disclose information about claims development that occurred earlier than ve years before the end of the rst nancial year in which it applies IFRS 4. If it is impracticable, when an entity first applies IFRS 4, to prepare information about claims development that occurred before the beginning of the earliest period for which an entity presents full comparative information that complies with IFRS 4, disclose that fact.
9.
39p103B, IFRS4p41A
Amendments to IAS 39 and IFRS 4 were issued in August 2005. A new denition of nancial guarantee contracts was added in IAS 39 and IFRS 4. The disclosure requirements for nancial guarantees are included in Section A8.11.
95
96
Section F Disclosures required for retirement benet plans
97
98
International Financial Reporting Standards Disclosure checklist 2007 Section F
Y-NA-NM
REF
F
26p13
Disclosures required for retirement benet plans

1. The report provided by a dened contribution plan should include: (a) a statement of net assets available for benets; and (b) a description of the funding policy. The report of a dened benet plan should include either: (a) a statement that shows: (i) the net assets available for benets; (ii) the actuarial present value of promised retirement benets, distinguishing between vested benets and non-vested benets; and (iii) the resulting excess or decit; or (b) a statement of net assets available for benets including either: (i) a note disclosing the actuarial present value of promised retirement benets, distinguishing between vested benets and non-vested benets; or (ii) a reference to this information in an accompanying actuarial report. The statement of net assets available for benets should disclose: (a) assets at period end, suitably classied; (b) basis of valuation of assets; (c) details of any single investment exceeding 5% of net assets available for benets, or 5% of any class or type of security; (d) details of any investment in the employer; and (e) liabilities other than the actuarial present value of promised retirement benets. The report of a retirement benet plan, whether dened benet or dened contribution, should also contain the following information: (a) statement of changes in net assets available for benets, including: (i) employer contributions; (ii) employee contributions; (iii) investment income (for example, interest and dividends); (iv) other income; (v) benets paid or payable (analysed, for example, as retirement, death and disability benets, and lump-sum payments); (vi) administrative expenses; (vii) other expenses; (viii) taxes on income; (ix) prots and losses on disposal of investments; (x) changes in value of investments; and (xi) transfers from and to other plans; (b) a description of the funding policy; (c) a summary of signicant accounting policies; (d) a description of the plan,which may including the following details and the affect of any changes during the period: (i) names of employers; (ii) employee groups covered; (iii) number of participants receiving benets; (iv) number of other participants (classied as appropriate); (v) type of plan (dened contribution or dened benet); (vi) whether participants contribute to the plan;
26p17, 35(d) 2.
26p35(a)
3.
26p34(a) 26p35(b)
4.
26p13, 35(c) 26p34(b) 26p36, 26p34(c)
99
International Financial Reporting Standards Disclosure checklist 2007 Section F
Y-NA-NM
REF
26p32
(vii) description of retirement benets promised to participants; (viii) description of any plan termination terms; and (ix) changes in the above items during the period covered by the report; and (e) for plan investments for which an estimate of fair value is not possible, the reason why fair value is not used. IAS 26 paras 16, 22 and 36 provide guidance on disclosures.
26p35(e) 26p17 26p35(e) 26p18
5.
26p19
For dened benet plans, disclose the following: (a) signicant actuarial assumptions made; (b) date of the most recent actuarial valuation; (c) the method used to calculate present value of promised retirement benets; (d) the effect of any changes in actuarial assumptions that have had a signicant effect on the actuarial present value of promised retirement benets; and (e) an explanation of the relationship between the actuarial present value of promised retirement benets and the net assets available for benets.
100
Section G Suggested disclosures for nancial review outside the nancial statements
101
102
International Financial Reporting Standards Disclosure checklist 2007 Section G
Y-NA-NM
REF
G
DV1p9
Suggested disclosures for nancial review outside the nancial statements

1. Outside the nancial statements provide a review of: (a) the main factors and inuences determining performance, including changes in the environment in which the entity operates, the entitys response to those changes and their effect, and the entitys policy for investment to maintain and enhance performance, including its dividend policy; (b) the sources of funding and its targeted ratio of liabilities to equity; and (c) the entitys resources not recognised in the balance sheet in accordance with IFRS. Outside the nancial statements, provide environmental reports, value-added statements, etc, if management believes these will assist users in making economic decisions.
DV1p10
2.
IFRS does not address the requirements for information to be included in a directors report or nancial commentary. These requirements are generally determined by local laws and regulations. Companies may present, outside the nancial statements, a nancial review by management that describes and explains the main features of the entitys nancial performance and nancial position and the principal uncertainties it faces.
IOSCOs standard on operating and nancing reviews for prospectuses Section G Suggested disclosures for nancial review outside the nancial statements
103
In 1998, IOSCO issued International Disclosure Standards for CrossBorder Offerings and Initial Listings for Foreign Issuers , comprising recommended disclosure standards including an operating and financial review and discussion of future prospects. IOSCO standards for prospectuses are not mandatory, but they will increasingly be incorporated in national stock exchange requirements both for prospectuses and annual reports. The text of IOSCO s standard on Operating and Financial Reviews and Prospects is reproduced below: Discuss the companys nancial condition, changes in nancial condition and results of operations for each year and interim period for which nancial statements are required, including the causes of material changes from year to year in nancial statement line items, to the extent necessary for an understanding of the companys business as a whole. Information provided also should relate to all separate segments of the company. Provide the information specied below as well as such other information that is necessary for an investors understanding of the companys nancial condition, changes in nancial condition and results of operation. 1. Operating Results. Provide information regarding signicant factors, including unusual or infrequent events or new developments, materially affecting the companys income from operations, indicating the extent to which income was so affected. Describe any other signicant component of revenue or expenses necessary to understand the companys results of operations. (a) To the extent that the nancial statements disclose material changes in net sales or revenues, provide a narrative discussion
Y-NA-NM
REF
of the extent to which such changes are attributable to changes in prices or to changes in the volume or amount of products or services being sold or to the introduction of new products or services. (b) Describe the impact of ination, if material. If the currency in which nancial statements are presented is of a country that has experienced hyperination, the existence of such ination, a ve year history of the annual rate of ination and a discussion of the impact of hyperination on the companys business should be disclosed. (c) Provide information regarding the impact of foreign currency uctuations on the company, if material, and the extent to which foreign currency net investments are hedged by currency borrowings and other hedging instruments. (d) Provide information regarding any governmental economic, scal, monetary or political policies or factors that have materially affected, or could materially affect, directly or indirectly, the companys operations or investments by host country shareholders. 2. Liquidity and Capital Resources. The following information should be provided: (a) Information regarding the companys liquidity (both short and long term), including: (i) a description of the internal and external sources of liquidity and a brief discussion of any material unused sources of liquidity. Include a statement by the company that, in its opinion, the working capital is sufcient for the companys present requirements, or, if not, how it proposes to provide the additional working capital needed; (ii) an evaluation of the sources and amounts of the companys cash ows, including the nature and extent of any legal or economic restrictions on the ability of subsidiaries to transfer funds to the company in the form of cash dividends, loans or advances and the impact such restrictions have had or are expected to have on the ability of the company to meet its cash obligations; and (iii) information on the level of borrowings at the end of the period under review, the seasonality of borrowing requirements and the maturity prole of borrowings and committed borrowing facilities, with a description of any restrictions on their use. (b) Information regarding the type of nancial instruments used, the maturity prole of debt, currency and interest rate structure. The discussion also should include funding and treasury policies and objectives in terms of the manner in which treasury activities are controlled, the currencies in which cash and cash equivalents are held, the extent to which borrowings are at xed rates, and the use of nancial instruments for hedging purposes. (c) Information regarding the companys material commitments for capital expenditures as of the end of the latest nancial year and any subsequent interim period and an indication of the general purpose of such commitments and the anticipated sources of funds needed to full such commitments.
104
Y-NA-NM
REF
3.
Research and Development, Patents and Licenses etc. Provide a description of the companys research and development policies for the last three years, where it is signicant, including the amount spent during each of the last three nancial years on company-sponsored research and development activities. Trend Information. The company should identify the most signicant recent trends in production, sales and inventory, the state of the order book and costs and selling prices since the latest nancial year. The company also should discuss, for at least the current nancial year, any known trends, uncertainties, demands, commitments or events that are reasonably likely to have a material effect on the companys net sales or revenues, income from continuing operations, protability, liquidity or capital resources, or that would cause reported nancial information not necessarily to be indicative of future operating results or nancial condition.
4.
105
106
Section H Disclosures relating to IAS 1 revised
107
108
International Financial Reporting Standards Disclosure checklist 2007 Section H
Y-NA-NM
REF
Disclosures relating to IAS 1 revised

1p49 1p57 1p10
1. 2. 3.
Identify the nancial statements and distinguish them from other information in the same published documents. Identify each nancial statement and the notes. Include the following components in the nancial statements: (a) a statement of nancial position (balance sheet) at the period end date; (b) a statement of comprehensive income for the period; (c) separate income statement (if presented); (d) a statement of changes in equity for the period; (e) a statement of cash ows for the period; (f) notes, including a summary of signicant accounting policies and other explanatory information. Where an income statement is presented, this should be immediately before the statement of comprehensive income.
1p12 1p10(f) 1p39 4.
Where an entity applies an accounting policy retrospectively or makes a retrospective restatement of items, or reclassies items in its nancial statements, include a statement of nancial position as at the beginning of the earliest comparative period. Make an explicit and unreserved statement in the notes that the nancial statements comply with IFRS. Financial statements should not be described as complying with IFRS unless they comply with all the requirements of IFRS.
1p16
5.
1p20
6.
In extremely rare circumstances where an entity departs from a requirement in IFRS because compliance with that requirement would be so misleading as to conict with the objective of nancial statements set out in the Framework, disclose: (a) that management has concluded that the nancial statements present fairly the nancial position, nancial performance and cash ows of the entity; (b) that it has complied with applicable IFRSs, except that it has departed from a particular requirement in order to achieve a fair presentation; (c) the title of the IFRS from which the entity has departed and the nature of the departure, including the treatment that the IFRS would require, the reason why that treatment would be so misleading, and the treatment adopted; and (d) for each period presented, the nancial effect of the departure on each item in the nancial statements that would have been reported in complying with the requirement. Where an entity has departed from a requirement of an IFRS in a prior period and the amounts recognised in the current period are affected by that departure, make disclosures (c) and (d) above. Where management concludes that compliance with a requirement in IFRS would be so misleading as to conict with the objective of nancial statements set out in the Framework, but departure from the requirement is prohibited by the relevant regulatory framework,
1p21
7.
1p23
8.
109
Y-NA-NM
REF
reduce the perceived misleading aspects of compliance as far as possible by disclosing: (a) the title of the IFRS in question, the nature of the requirement and the reason why management considers compliance with that requirement to be so misleading as to conict with the objective of nancial statements set out in the Framework; and (b) for each period presented, the adjustments to each item in the nancial statements that management has concluded would be necessary to give a fair presentation. 1p25 9. Make an assessment of the entitys ability to continue as a going concern. Where management is aware of material uncertainties related to events or conditions that may cast signicant doubt on the entitys ability to continue as a going concern, disclose those uncertainties.
1p25
10. Where the nancial statements are not prepared on a going concern basis, disclose that fact, together with the basis on which the nancial statements are prepared and the reason why the entity is not regarded as a going concern. 11. Where an entity has changed the end of its reporting period and prepares nancial statements for a period of less than or more than one year, disclose: (a) the period covered by the nancial statements; (b) the reason for using a longer or shorter period; and (c) the fact that amounts presented in the nancial statements are not entirely comparable. 12. Disclose comparative information in respect of the previous period for all amounts reported in the current periods nancial statements, except where IFRSs permit or require otherwise. This includes comparative information for both narrative and descriptive information where it is relevant to understanding the nancial statements for the current period. 13. Where an entity has reclassied comparative amounts due to a change in presentation or classication of items in its nancial statements, disclose: (a) the nature of the reclassication; (b) the amount of each item or class of item that is reclassied; and (c) the reason for the reclassication. When an entity changes the presentation or classication of items in its nancial statements, reclassify comparative amounts unless it is impracticable to do so.
1p36
1p38
1p41
1p42
14. Where an entity changes the presentation or classication of items, but it is impracticable to reclassify comparative amounts, disclose: (a) the reason for not reclassifying the amounts; and (b) the nature of the adjustments that would have been made if the amounts had been reclassied. 15. Display the following information prominently, and repeat where necessary for the information presented to be understood: (a) the name of the reporting entity or other means of identication, and any change in that information from the end of the previous reporting period;
1p51
110
Y-NA-NM
REF
(b) whether the nancial statements are for an individual entity or a group; (c) the date of the end of the reporting period or the period covered by the nancial statements and notes; (d) the presentation currency (dened in IAS 21); (e) the level of rounding used in presenting amounts in the nancial statements.
2. Statement of comprehensive income and related notes

1p81 1. Include either: (a) a single statement of comprehensive income; or (b) a statement displaying components of prot or loss (a separate income statement) and a second statement beginning with prot or loss and displaying components of other comprehensive income (statement of comprehensive income). The statement of comprehensive income should include, as a minimum, line items showing the following amounts for the period: (a) revenue; (b) nance costs; (c) share of prot or loss of associates and joint ventures accounted for using the equity method; (d) tax expense; (e) a single amount comprising the total of: (i) the post-tax prot or loss on discontinued operations; and (ii) the post-tax gain or loss recognised on the measurement to fair value less costs to sell or on the disposal of the assets or disposal groups that make up discontinued operations; (f) prot or loss; (g) each component of other comprehensive income classied by nature (excluding amounts in (h)); (h) share of the other comprehensive income of associated joint ventures accounted for using the equity method; and (i) total comprehensive income. Disclose the following in the statement of comprehensive income as allocations of prot or loss for the period: (a) prot or loss for the period attributable to: (i) minority interests; and (ii) owners of the parent; and (b) total comprehensive income for the period attributable to: (i) minority interests, and (ii) owners of the parent. Entities are encouraged to give this information in the statement of comprehensive income or in the separate income statement.
1p82
2.
1p83
3.
1p84 1p85 4.
1p87
5.
No item of income or expense is shown as an extraordinary item, either in the statement of comprehensive income (or the separate income statement, if presented), or in the notes.
111
Present additional line items, headings and sub-totals in the statement of comprehensive income (and the separate income statement, if presented) when such presentation is relevant to an understanding of the entitys nancial performance.
Y-NA-NM
REF
1p90
6.
Disclose, either in the statement of comprehensive income or in the notes, the amount of income tax relating to each component of other comprehensive income including reclassication adjustments. Disclose reclassication adjustments relating to components of other comprehensive income. Disclose separately the nature and amount of items of income or expense that are material. Give an analysis of expenses recognised in prot or loss using a classication based on either their nature or their function within the entity, whichever provides information that is reliable and more relevant.
1p92 1p97 1p99
7. 8. 9.
1p104
10. Where the entity classies expenses by function, disclose additional information on the nature of expenses, including depreciation, amortisation and employee benets expense.
3. Statement of changes in equity

1p106 1. The statement of changes in equity shows the following: (a) total comprehensive income for the period, showing separately the total amounts attributable to owners of the parent and minority interest; (b) for each component of equity, the effects of retrospective application or retrospective restatement recognised in accordance with IAS 8; (c) the amounts of transactions with owners in their capacity as owners, showing separately contributions by and distributions to owners; and (d) for each component of equity, a reconciliation between the carrying amount at the beginning and the end of the period, separately disclosing each change. Disclose, either in the statement of changes in equity or in the notes, the amount of dividends recognised as distributions to owners during the period and the related amount per share.
1p107
2.
4. Statement of nancial position and related notes

1p54
1.
The statement of nancial position, as a minimum, includes the following line items: (a) property, plant and equipment; (b) investment property; (c) intangible assets; (d) nancial assets (excluding amounts shown under (e), (h) and (i)); (e) investments accounted for using the equity method; (f) biological assets; (g) inventories; (h) trade and other receivables; (i) cash and cash equivalents; (j) the total of assets classied as held for sale and assets included in disposal groups classied as held for sale in accordance with IFRS 5; (k) trade and other payables; (l) provisions; (m) nancial liabilities (excluding amounts shown under (k) and (l)); (n) liabilities and assets for current tax, as dened in IAS 12;
112
Y-NA-NM
REF
(o) deferred tax liabilities and deferred tax assets, as dened in IAS 12; (p) liabilities included in disposal groups classied as held for sale in accordance with IFRS 5; (q) minority interest, presented within equity; and (r) issued capital and reserves attributable to owners of the parent. 1p55 Present additional line items, heading and subtotals on the face of the statement of nancial position when such presentation is relevant to an understanding of the entitys nancial position. 2. Disclose further sub-classications of the line items presented, classied in a manner appropriate to the entitys operations. This disclosure is made either in the statement of nancial position or in the notes. Is the current/non-current distinction of assets and liabilities made on the face of the balance sheet? (a) Yes ensure that classication rules in IAS 1 paras 66 - 76 are applied; (b) No in this exception, ensure that a presentation based on liquidity provides information that is reliable and more relevant. Ensure also that assets and liabilities are presented in order of their liquidity. An entity is permitted to use a mixed basis of presentation when this provides information that is reliable and more relevant for example, when an entity has diverse operations. 4. Whichever method of presentation in para 3 above is applied, disclose the non-current portion (the amount expected to be recovered or settled after more than 12 months) for each asset and liability item that combines current and non-current amounts. Disclose the following information either in the statement of nancial position or in the notes: (a) for each class of share capital: (i) the number of shares authorised; (ii) the number of shares issued and fully paid, and issued but not fully paid; (iii) the par value per share, or that the shares have no par value; (iv) a reconciliation between the number of shares outstanding at the beginning and the end of the reporting period; (v) the rights, preferences and restrictions for each class of share, including restrictions on dividends and the repayment of capital; (vi) shares in the entity held by the entity itself of by its subsidiaries or associates; and (vii) shares reserved for issue under options and contracts for the sale of shares, including the terms and amounts; and (b) a description of the nature and purpose of each reserve within equity. If the entity has no share capital, disclose information equivalent to that under para 5 above, showing changes in each category of equity interest during the period, and the rights, preferences and restrictions attaching to each category of equity interest.
1p77
1p60
3.
1p64
1p61
1p79
5.
1p80
6.
113
Y-NA-NM
REF
5. Notes to the nancial statements

1p112 1. Disclose in the notes: (a) information about the basis of preparation of the nancial statements and the specic accounting policies used; (b) the information required by IFRSs that is not presented elsewhere in the nancial statements; and (c) information that is not presented elsewhere but is relevant to an understanding of the nancial statements. The notes are given in a systematic manner, as far as is practicable, with each item in the statements of nancial position and of comprehensive income, the separate income statement (where presented) and in the statements of changes in equity and cash ows cross-referenced to any related information in the notes. Disclose in the summary of signicant accounting policies: (a) the measurement basis (or bases) used in preparing the nancial statements, and (b) the other accounting policies used that are relevant to an understanding of the nancial statements. Disclose the judgements, apart from those involving estimations (see para 5 below) that management has made in applying the entitys accounting policies and that have the most signicant impact on the amounts recognised in the nancial statements. Disclose information about the assumptions made about the future and other major sources of estimation uncertainty at the end of the reporting period that have a signicant risk of leading to material adjustments to the carrying amounts of assets and liabilities within the next nancial year. In respect of those assets and liabilities, disclose: (a) their nature, and (b) their carrying amount as at the period end date. Disclose information that enables users of the nancial statements to evaluate the entitys objectives, policies and processes for managing capital, including: (a) qualitative information about the objectives, policies and processes, including: (i) a description of what the entity manages as capital; (ii) the nature of any externally imposed capital requirements and how those requirements are incorporated into the management of capital; and (iii) how the entity is meeting its objectives for managing capital; (b) summary quantitative data about what the entity manages as capital; (c) any changes in (a) and (b) compared to the prior period; (d) whether the entity has complied with any externally imposed capital requirements during the reporting period; and (e) where the entity has not complied with any externally imposed capital requirements, the consequences of not complying with those requirements. The above disclosure is based on information provided internally to key management personnel.
1p113
2.
1p117
3.
1p122
4.
1p125
5.
1p134, 135
6.
114
Y-NA-NM
REF
1p137
7.
Disclose in relation to dividends: (a) the amount of dividends proposed or declared before the nancial statements were authorised for issue but not recognised as a distribution to owners in the period, and the related amount per share; and (b) the amount of any cumulative preference dividends not recognised. Disclose the following: (a) the domicile and legal form of the entity, the country in which it is incorporated and the address of its registered ofce (or principal place of business, if different from the registered ofce); (b) a description of the nature of the entitys operations and its principal activities; and (c) the name of the parent and the ultimate parent of the group.
1p138
8.
115
116
Section I Disclosures relating to IFRS 8
117
118
Y-NA-NM
REF
Disclosures relating to IFRS 8

IFRS8p20
1.
Disclose information to enable users to evaluate the nature and nancial effects of the business activities in which the entity engages and the economic environment in which it operates. Disclose the following general information: (a) the factors used in identifying the entitys reportable segments, including the basis of organisation (for example, by geographical area, products and services, or a combination of factors); and (b) the types of products and services from which each reportable segment generates revenues. Give reconciliations of balance sheet amounts for reportable segments to the entitys balance sheet amounts for each date at which a balance sheet is presented. Provide reconciliations (and narrative to describe the reconciling items) of the following: (a) the total of reportable segments revenues to the entitys revenue; (b) the total of the reportable segments measure of prot or loss to the entitys prot or loss before tax and discontinued operations, unless items such as tax income and expense are allocated to segments, in which case the reconciliation may be to the entitys prot or loss after those items; (c) the total of the reportable segments assets to those of the entity; (d) the total of the liabilities of the reportable segments to those of the entity (where segment liabilities are reported); and (e) for any other material item from the total for the reportable segments to the corresponding amount for the entity. Where there has been a change in the composition of the entitys reportable segments, disclose whether it has restated the corresponding items of segment information for earlier periods. Where there is such a change, restate corresponding information unless the information is not available and the cost to develop would be excessive. Make this decision for each individual item of disclosure.
IFRS8p22
2.
IFRS8p21
3.
IFRS8p28
4.
IFRS8p29
5.
IFRS8p30
6.
Where there has been a change in the composition of the entitys reportable segments and segment information for prior periods is not restated, restate in the year in which the change occurs, segment information for the current year on both the old basis and the new basis of segmentation (unless the necessary information is not available and the cost to develop it would be excessive).
2. Information about prot or loss, assets and liabilities

IFRS8p23 1. Report a measure of prot or loss and total assets for each reportable segment, and a measure of liabilities for each reportable segment if that amount is regularly provided to the chief operating decisionmaker. Disclose the following information for each reportable segment if the information is included in the measure of segment prot or loss reviewed by the chief operating decision-maker, or is otherwise regularly provided to them:
IFRS8p23
2.
119
Section I
International Financial Reporting Standards Disclosure checklist 2007 Section I
Y-NA-NM
REF
(a) revenues from external customers; (b) revenues from transactions with other operating segments of the same entity; (c) interest revenue; (d) interest expense; (e) depreciation and amortisation; (f) material items of income and expense disclosed in accordance with IAS 1.86; (g) the entitys interest in the prot or loss of associates and joint ventures accounted for by the equity method; (h) income tax income or expense; and (i) material non-cash items (other than depreciation and amortisation). Disclose interest revenue net of interest expense only when the majority of the segments revenues are from interest and the chief operating decision-maker relies primarily on net interest revenue in assessing the performance of the segment. Disclose when this has been done. IFRS8p24 3. Disclose the following about segment assets for each reportable segment if the information is included in the measure of segment assets reviewed by the chief operating decision-maker or is otherwise regularly provided to the chief operating decision maker: (a) the amount of investments in associates and joint ventures accounted for using the equity method; and (b) the amount of additions to non-current assets other than nancial instruments, deferred tax assets, post-employment benet assets and rights arising under insurance contracts. Provide an explanation of the measurements of prot or loss, assets and liabilities for each reportable segment, including: (a) the basis of accounting for any transactions between reportable segments; (b) the nature of any differences between the measurements of prots or losses of the reportable segments and those of the entity before income tax and discontinued operations; (c) the nature of any differences between the measurement of the assets of the reportable segments and those of the entity; (d) the nature of any differences between the measurement of the liabilities of the reportable segments and those of the entity; (e) the nature and effect of any changes from previous periods in the measurement methods used to determined reported segment prot or loss; and (f) the nature and effect of any asymmetrical allocations to reportable segments (for example, where depreciation expense is allocated to a segment but the related asset is not).
IFRS8p27
4.
3. Entity-wide disclosures
IFRS8p31 Provide the following information if it is not provided as part of the reportable segment information. Disclose it, based on the nancial information used to produce the entitys nancial statements: 1. The revenues from external customers for each group of similar products and services, unless the information is not available and the cost to develop it would be excessive, in which case, disclose that fact. The amounts of the revenues are based on the revenue per the nancial statements.
IFRS8p32
120
Y-NA-NM
REF
IFRS8p33
2.
The following geographical information, unless the necessary information is not available and the cost to develop it would be excessive (if this is the case, disclose this fact): (a) revenues for external customers split between those attributable to the entitys country of domicile and all foreign countries in total from which the entity derives revenues. Disclose the basis for attributing revenues to individual countries, and the revenue attributed to an individual foreign country if that revenue is material; and (b) non-current assets (other than nancial instruments, deferred tax assets, post-employment benet assets and rights arising under insurance contracts) split between those located in the entitys country of domicile and those located in all foreign countries in total in which the entity holds assets. If assets in an individual foreign country are material, disclose those assets separately. The amounts of the assets and revenues are based on the amounts per the nancial statements.
IFRS8p34
3.
Information about the extent of the entitys reliance on its major customers. If revenues from transactions with a single external customer are 10% or more of the entitys revenues, disclose that fact, along with the total amounts of revenues from each such customer and the identity of the segments reporting the revenues.
121
Section I
122
Section J Disclosures for interim nancial reports
123
124
International Financial Reporting Standards Disclosure checklist 2007 Section J
Y-NA-NM
REF
Disclosures for interim nancial reports

1. An entity should publish in its interim nancial report either: (a) a complete set of nancial statements; or (b) a set of condensed nancial statements. If a complete set of financial statements is published, the form and content of those statements should conform to the requirements of IAS 1 all applicable sections of this disclosure checklist should be applied for such interim financial reports. If a set of condensed financial statements is published, generally only Section J of this disclosure checklist should be applied for the interim financial report.
34p9, 10
34p9
34p20
2.
Interim reports should include interim nancial statements (condensed or complete) for periods as follows: (a) balance sheet as of the end of the current interim period and a comparative balance sheet as of the end of the immediately preceding nancial year; (b) income statements for the current interim period and cumulatively for the current nancial year to date, with comparative income statements for the comparable interim periods (current and yearto-date) of the immediately preceding nancial year; (c) statement showing changes in equity cumulatively for the current nancial year to date, with a comparative statement for the comparable year-to-date period of the immediately preceding nancial year; and (d) cash ow statement cumulatively for the current nancial year to date, with a comparative statement for the comparable year-todate period of the immediately preceding nancial year. An interim nancial report should include, at a minimum, the following components: (a) condensed balance sheet; (b) condensed income statement; (c) condensed statement showing either: (i) all changes in equity; or (ii) changes in equity except those arising from capital transactions with owners and distributions to owners (ie, statement of income and expense recognised in equity); (d) condensed cash ow statement; and (e) selected explanatory notes (refer to para 6 below). Condensed primary statements should include, at a minimum, each of the headings and subtotals that were included in the most recent annual nancial statements. Additional line items and notes should be included if their omission would make the condensed interim nancial statements misleading.
34p8
3.
34p10
4.
125
Y-NA-NM
REF
34p11 34p16
5. 6.
Basic and diluted earnings per share should be presented on the face of an interim income statement, if applicable. Disclose, as a minimum, the following information in the notes, if material and if it is not disclosed elsewhere in the interim nancial report: (a) a statement that the same accounting policies are followed in the interim nancial statements as compared with the most recent annual nancial statements; or, if those policies have been changed, a description of the nature and effect of the change; (b) explanatory comments about the seasonality or cyclicality of interim operations; (c) the nature and amount of items affecting assets, liabilities, equity, net income, or cash ows that are unusual because of their nature, size, or incidence (refer to examples in IAS 34 para 17); (d) the nature and amount of changes in estimates of amounts reported in prior interim periods of the current year, or in prior years, if those changes have a material effect in the current interim period (for example, changes in estimates relating to inventory write-downs and impairment losses); (e) issuances, repurchases, and repayments of debt and equity securities; (f) dividends paid (aggregate or per share), separately for ordinary shares and other shares; (g) segment revenue and segment result for segments in primary segment format (only if IAS 14 is applicable for this entity refer to Section D1); (h) material events subsequent to the end of the interim period that have not been reected in the nancial statements for the interim period; (i) the effect of changes in the composition of the entity during the interim period (for example, business combinations, disposals, restructurings and discontinued operations). In the case of business combinations, the entity should disclose the information required to be disclosed under IFRS 3 paras 66-73; and (j) changes in contingent liabilities and assets since the last annual balance sheet date. Examples of the types of disclosure that are required by IAS 34 para 16 are set under IAS 34 para 17.

34p16 7.
126
In addition to the items in para 6 above, the entity should also disclose any other events or transactions that are material to an understanding of the current interim period.
Y-NA-NM
REF
34p19
8.
Disclose that the interim nancial statements comply with IAS 34. An interim financial report should not be described as complying with IFRS unless it complies with all of the requirements of each applicable standard and each applicable interpretation of the International Financial Reporting Interpretations Committee.
DV34p21
9.
For an entity whose business is highly seasonal, financial information for the 12 months ending on the interim reporting date and comparative information for the prior 12-month period may be useful.
For a first-time adopter preparing its first IFRS financial statements, the entity should satisfy the IAS 34 requirements and the requirements set out in B8.5.
IFRS Disclosure Checklist 2007 is designed for the information of readers. While every effort has been made to ensure accuracy, information contained in this publication may not be comprehensive or may have been omitted that may be relevant to a particular reader. In particular, this checklist is not intended as a study of all aspects of IFRS, or as a substitute for reading the standards and interpretations when dealing with specic issues. No responsibility for loss to any person acting or refraining from acting as a result of any material in this checklist can be accepted by PricewaterhouseCoopers. Recipients should not act on the basis of this checklist without seeking professional advice.
127
Notes
128
PricewaterhouseCoopers IFRS and corporate governance publications and tools 2007

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2007 PricewaterhouseCoopers. All rights reserved. PricewaterhouseCoopers refers to the network of member rms of PricewaterhouseCoopers International Limited, each of which is a separate and independent legal entity.
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International Financial Reporting Standards

Disclosure checklist 2007

PricewaterhouseCoopers IFRS and corporate governance publications and tools 2007

International Financial Reporting Standards Disclosure checklist 2007

International Financial Reporting Standards Disclosure Checklist 2007

International Financial Reporting Standards Disclosure checklist 2007

Structure of Disclosure Checklist

Format of Disclosure Checklist

International Financial Reporting Standards Disclosure checklist 2007

Disclosures for consideration by all entities

International Financial Reporting Standards Disclosure checklist 2007

Disclosures required by all entities but only in certain situations

International Financial Reporting Standards Disclosure checklist 2007

Additional disclosures required for listed companies

D2 Section E Section F Section G Section H

Section A Disclosures for consideration by all entities

International Financial Reporting Standards Disclosure checklist 2007 Section A1

Section A Disclosures for consideration by all entities

International Financial Reporting Standards Disclosure checklist 2007

Section A Disclosures for consideration by all entities

2. Presentation and functional currency

International Financial Reporting Standards Disclosure checklist 2007 Section A1

24p12 1p126(c) 24p12 24p12

Section A Disclosures for consideration by all entities

International Financial Reporting Standards Disclosure checklist 2007

Section A Disclosures for consideration by all entities

27p28 28p26 31p33

1p110 31p57 1p110 16p73(a-c)

International Financial Reporting Standards Disclosure checklist 2007 Section A2

1p110 1p110, 23p9, 29(a) IFRS7p21

1p110 2p36(a) 1p110 19p120A(a) IFRS2p44 1p110 18p35(a) 1p110

Section A Disclosures for consideration by all entities

International Financial Reporting Standards Disclosure checklist 2007

Section A Disclosures for consideration by all entities

18p35(a) 1p110, 11p39(b)(c)

3. Changes in accounting policy

International Financial Reporting Standards Disclosure checklist 2007 Section A2

Section A Disclosures for consideration by all entities

International Financial Reporting Standards Disclosure checklist 2007

Section A Disclosures for consideration by all entities

A3 Income statement (and related notes)

International Financial Reporting Standards Disclosure checklist 2007 Section A3

Section A Disclosures for consideration by all entities

International Financial Reporting Standards Disclosure checklist 2007

Section A Disclosures for consideration by all entities

International Financial Reporting Standards Disclosure checklist 2007 Section A3

Section A Disclosures for consideration by all entities

International Financial Reporting Standards Disclosure checklist 2007

Section A Disclosures for consideration by all entities

A4 Statement of changes in shareholders equity (and related notes)

1. Statement of changes in equity

1p97(a) 32p34 32p22

32p35 32p22 1p97(a) 1p97(c) 32p35

32p34 16p77(f) 38p124(b) IFRS7p20 IFRS7p23 21p52(b)

International Financial Reporting Standards Disclosure checklist 2007 Section A4

12p81(a) IFRS2p50 1p97(b) 32p28 IFRIC1p6(d) 2.

2. Statement of recognised income and expense

2. 1p97(a) 32p34 32p22

32p35 1p97(a) 1p97(c)

Section A Disclosures for consideration by all entities