Technical publications

Example financial statements

Andrew Rigele Andrew Rigele

The Financial Reporting Advisory team at Grant Thornton Australia produces example financial statements to illustrate the application of the requirements in Australian Accounting Standards (AASBs) which incorporate International Financial Reporting Standards (IFRSs) as issued by the International Accounting Standards Board (IASB).

The full year and half-year periods ending 31 December 2018 represent a major change for many Australian businesses due to the first time application of new revenue and financial instruments requirements. AASB 15 Revenue from Contracts with Customers (for-profit entities) and AASB 9 Financial Instruments (for-profit and not-for-profit entities) apply for the first time this reporting period. More significant changes are on their way with AASB 15 and AASB 1058 Income of Not-for-Profit Entities (not-for-profit entities) and AASB 16 Leases (for-profit and not-for-profit entities) coming into effect from 1 January 2019.

ASIC is also ramping up its surveillance activities with increased focus on the first time application of new major standards and quantification of the expected impact of accounting standards issued but not yet effective. Adding to the complexity in financial reporting, there is uncertainty as to when and how the Australian government will respond to the recommendations arising from the legislative review of the Australian Charities and Not-for-profits Commission (ACNC), particularly with respect to recommended changes to reporting thresholds for not-for-profit entities. In addition, the Australian government has recently introduced proposals to double the financial reporting thresholds for large proprietary companies effective from 1 July 2019.

To navigate through all these complexities and uncertainties, it is important that Australian entities remain focused and proactive with their implementation projects and work closely with their advisors and auditors.

Example Financial Statements for the year ended 31 December 2014

Grant Thornton Australia has prepared a number of Example Financial Statements for the year ended 31 December 2014, which have been tailored to suit a number of different scenarios. You can access them via the links below:

Example Financial Statements for the year ended 31 December 2013

Grant Thornton Australia has prepared a number of Example Financial Statements for the year ended 31 December 2013, which have been tailored to suit a number of different scenarios. You can access them via the links below:

Example financial statements for the year ending 30 June 2013

Grant Thornton Australia has prepared a number of Example Financial Statements for the year ended 30 June 2013, which have been tailored to suit a number of different scenarios. You can access them via the links below:

Example financial statements for the year ending 31 December 2012

Grant Thornton Australia has prepared a number of Example Financial Statements for the year ended 31 December 2012, which have been tailored to suit a number of different scenarios. You can access them on the links below:

Example financial statements for the half-year ending 31 December 2012
Grant Thornton has prepared Example Interim Financial Statements, which have been tailored to suit a number of different scenarios. You can access them on the links below:

Example financial statements for the year ending 30 June 2012

Grant Thornton Australia has prepared a number of Example Financial Statements for the year ended 30 June 2012, which have been tailored to suit a number of different scenarios. You can access them on the links below:

Example interim consolidated financial statements 

Grant Thornton has prepared Example Interim Financial Statements, which have been tailored to suit a number of different scenarios. You can access them on the links below:

Example consolidated financial statements for the year ending 30 June 2011

Grant Thornton Australia has also prepared a number of Example Financial Statements for 30 June 2011, which have been tailored to suit a number of different scenarios. You can access them on the links below:

Example large reporting entity financial statements [ 767 kb ]

Example listed entity financial statements [ 898 kb ]

Example Reduced Disclosure Regime (RDR) financial statements [ 596 kb ] 

Example unlisted public company financial statements [ 771 kb ]

Example special purpose - single company financial statements [ 397 kb ]

First-time adoption of IFRS [ 824 kb ]

Example consolidated financial statements for first time adopters updated for 2011 changes. 

New Zealand IFRS model financial statements [ 1020 kb ]

Illustrative example of general purpose financial statements for the year ended 30 June 2011 prepared in accordance with the Financial Reporting Act 1993, the Companies Act 1993, applying New Zealand equivalents to International Financial Reporting Standards (NZ IFRS). 

Example IFRS Financial Statements for the year ending 31 December 2010 [ 688 kb ]

These Example Financial Statements have been reviewed and updated to reflect changes in IFRSs that are effective for the year ending 31 December 2010.

Example IFRS Financial Statements for the half year ending 30 June 2010 [ 464 kb ]

These Example Financial Statements have been reviewed and updated to reflect changes in IFRSs that are effective for the  half year ended 30 June 2010.

Example IFRS Financial Statements for the half year ended 30 December 2009 [ 761 kb ] These Example Financial Statements have been reviewed and updated to reflect changes in IFRSs that are effective for the year ending 31 December 2009.

Example IFRS Financial Statements for the year ending 30 June 2009 [ 431 kb ] This document illustrates a set of IFRS consolidated financial statements for the 6 month period ended 30 June 2009.  This document illustrates the impact of the new standards which take effect in 2009 on interim reports in accordance with IAS 34 (AASB 134) Interim Financial Reports

IFRS Example Financial Statements [ 663 kb ]

This document illustrates a set of IFRS consolidated financial statements for the 12 month period ended 31 December 2008. This includes the early adoption of IAS 1(AASB 101) Presentation of Financial Statements and IFRS 8 (AASB 8) Operating Segments.