BDO has published its 31 December 2024 Illustrative IFRS Financial Statements.
This update includes disclosures relating to the adoption of amendments to IAS 1, IAS 7 and IFRS 7 amongst others, as well as information about other standards that have been issued, but are not yet effective.
Main provisions
1. Illustrative financial statements (December 2024)
- BDO presents the financial statements under IFRS as at December 31, 2024.
- Amendments to IAS 1, IAS 7 and IFRS 7, as well as standards that are not yet effective, are covered.
- IFRS require disclosure of climate change risks on financial performance.
- Consistency between management comments and financial estimates is a key requirement.
- New standards and amendments are expected to be issued in 2024.
- An overview of these decisions is to be published in BDO's annual IFRS Bulletin.
- The Company complies with IFRS by not applying standards that are not relevant to its operations (e.g., IFRS 17, IFRS 15, IAS 20).
- Avoids disclosures that are not relevant to its operations (IFRS 7).
- IAS 1 requires a clear presentation of the statements, separation of components and specific information about the entity.
- Notes and comparative information should be presented in a structured manner and cross-referenced.
These provisions are aimed at ensuring transparency, consistency and compliance with international financial reporting standards.
Experts of BDO in Ukraine will help you optimize the process of preparing financial statements, ensuring compliance with IFRS and support in the implementation of international standards. We offer the following services:
- Transition to IFRS accounting
- Transformation of reporting under IFRS
- Consultations on IFRS matters
- Automation of accounting and reporting under IFRS
- Development of accounting policies under IFRS
Contact BDO in Ukraine for IFRS advisory and support services. We will provide you with all the necessary expertise and assistance.
Source BDO Global
