Preparing financial statements in accordance with International Financial Reporting Standards (IFRS) can be challenging. Each year, the International Accounting Standards Board (IASB) publishes new Standards and amendments, which can significantly impact how preparers should present a complete set of financial statements.
Each year, new Standards and amendments are published by the International Accounting Standards Board (IASB) with the potential to significantly impact the presentation of a complete set of financial statements.
The Interim Financial Statements illustrate a six-month accounting period beginning on 1 January 2024. They are based on the activities and results of Illustrative Corporation Ltd and its subsidiaries (‘the Group’) — a fictional consulting, service, and retail entity that has been preparing IFRS financial statements for several years. The Group produces half-yearly interim financial statements in accordance with IAS 34 ‘Interim Financial Reporting’ at 30 June 2024.
This publication aims to provide you some information and insight into preparing IFRS Interim Consolidated Financial Statements.
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