IFRSDisc Checklist

A S S U R A N C E A N D A D V I S O RY
B U S I N E S S S E RV I C E S
IFRS Disclosure
Checklist 2004
For financial periods ending
31 December 2004 based on IFRS
in issue at 31 December 2004
!@#
E
International Financial Reporting Standards Disclosure Checklist 2004
Entity: Prepared:
Financial statement date: Reviewed:
(Signature and Date)

Instructions and explanatory comments
This checklist should be completed in relation to financial statements prepared in accordance with International
Financial Reporting Standards (IFRS). It shows all the disclosures required by these standards, but does not explain
their other accounting requirements. In some instances, to simplify use of the checklist, disclosure requirements
have been paraphrased, therefore if necessary reference should be made to the standards themselves for full details.
In addition to the mandatory disclosure requirements this checklist includes, in italics, the encouraged and suggested
disclosure requirements under IAS. In addition, comment boxes have been included that summarise and/or refer
to relevant IAS guidance regarding the scope and interpretation of certain disclosure requirements.
This checklist covers all Standards and Interpretations mandatorily applicable to accounting periods beginning on or
after 1 January 2004 (that is, it has been designed to deal with 31 December 2004 year-ends). The checklist takes
account of all IFRS guidance that was approved and effective as at 31 December 2004, IFRS 1 and IFRIC 1 (users
should note that although IFRIC 1 has been included in this checklist it is only applicable for annual periods
beginning on or after 1 September 2004). This checklist does not include the amendments made by the
Improvement Project or the revised IAS 32 and IAS 39 issued in December 2003. Early adoption is encouraged in
respect of these newly issued standards. For early adopters refer to the International GAAP® Disclosure Checklist
2005.
To provide the user with insight of changes in the IFRS reporting requirements that have occurred within the
previous 12 months, new disclosure requirements included in the checklist have been side-lined.
The checklist contains a separate section (starting on page 85) that contains all disclosure requirements related to
interim reporting, which does not need to be completed for annual financial statements.
Each item should be responded to with a tick in the appropriate column:
Yes = disclosure has been made;
No = disclosure has not been made even though it is mandatory for the
entity to make such disclosure; or
N/A = the question is not applicable to the entity or disclosure is not
mandatory for the entity and has not been made.
Any item marked “No” should be explained on the checklist or on a separate Working Paper, the explanation
should include the amounts involved.
Copyright © 2004 Ernst & Young. All rights reserved. Ernst & Young is a registered trademark.
E i
TABLE OF CONTENTS
General........................................................................................................................................................................................... 1
First-time adoption....................................................................................................................................................................... 4
IFRS 1....................................................................................................................................................................................... 4
SIC-8 ......................................................................................................................................................................................... 5
Financial review by management ............................................................................................................................................... 6
Balance sheet................................................................................................................................................................................. 7
Income statement......................................................................................................................................................................... 9
Earnings per share ................................................................................................................................................................ 11
Cash flow statement................................................................................................................................................................... 13
Statement of changes in equity................................................................................................................................................. 16
Notes to the financial statements............................................................................................................................................. 17
Significant accounting policies ............................................................................................................................................ 17
Specific accounting policies ................................................................................................................................................. 18
Changes in accounting policies ........................................................................................................................................... 22
Consolidated financial statements....................................................................................................................................... 23
Business combinations ......................................................................................................................................................... 24
Capitalisation of borrowing costs ....................................................................................................................................... 25
Discontinuing operations..................................................................................................................................................... 25
Employee benefits ................................................................................................................................................................ 27
Events after the balance sheet date .................................................................................................................................... 31
Financial instruments............................................................................................................................................................ 31
Foreign currency translation................................................................................................................................................ 42
Fourth quarter information ................................................................................................................................................. 43
Fundamental errors............................................................................................................................................................... 43
Government grants............................................................................................................................................................... 44
Hyperinflation........................................................................................................................................................................ 44
Impairment of assets ............................................................................................................................................................ 45
Information reflecting the effects of changing prices...................................................................................................... 46
Intangible assets .................................................................................................................................................................... 47
Intangible assets – goodwill................................................................................................................................................. 49
Investment property ............................................................................................................................................................. 51
Investments in associates ..................................................................................................................................................... 53
Investments in joint ventures .............................................................................................................................................. 53
Inventories ............................................................................................................................................................................. 54
Lease disclosures by lessees ................................................................................................................................................. 54
Property, plant and equipment............................................................................................................................................ 56
Provisions, contingent liabilities and contingent assets ................................................................................................... 57
Related parties ....................................................................................................................................................................... 58
Revenue .................................................................................................................................................................................. 59
Segment reporting................................................................................................................................................................. 60
Shareholders’ equity.............................................................................................................................................................. 63
Taxation.................................................................................................................................................................................. 64
Agriculture................................................................................................................................................................................... 66
Business combinations accounted under IFRS 3................................................................................................................... 68
Banks and similar financial institutions ................................................................................................................................... 77
Construction contractors........................................................................................................................................................... 80
Lease disclosures by lessors ...................................................................................................................................................... 81
Reporting by retirement benefit plans..................................................................................................................................... 82
Interim reporting ........................................................................................................................................................................ 85
Index ............................................................................................................................................................................................ 89
International Financial Reporting Standards..................................................................................................................... 89
International Accounting Standard..................................................................................................................................... 89
SIC Interpretations ............................................................................................................................................................... 91
ii E
General IFRS Disclosure checklist 2004
Disclosure made
Yes No N/A
GENERAL
Identification and components of financial statements
1. IAS 1.44 Are the financial statements clearly identified and distinguished from other
information in the same document.
2. IAS 1.7 Do the financial statements include, and clearly identify, the following
IAS 1.4 components:
a. balance sheet;
b. income statement;
c. a statement showing either:
i. all changes in equity; or
ii. changes in equity other than those arising from capital transactions with
owners and distributions to owners.
d. cash flow statement; and
e. accounting policies and explanatory notes.
3. IAS 1.46 Has each component of the financial statements been clearly identified using an
unambiguous title.
4. IAS 1.46 Is the following information prominently displayed and repeated when necessary
for a proper understanding of the information presented:
a. the name of the reporting entity or other means of identification;
b. whether the financial statements cover the individual entity or a group of
entities;
c. the balance sheet date or the period covered by the financial statements,
whichever is appropriate to the related component of the financial
statements;
d. the reporting currency; and
e. the level of precision used in the presentation of figures in the financial
statements.
Corporate information
5. IAS 1.102 Does the entity disclose the following information, if not disclosed elsewhere in
information published with the financial statements:
a. the domicile of the entity;
b. legal form of the entity;
c. the entity’s country of incorporation;
d. the address of the registered office (or principal place of business, if different
from the registered office);
e. a description of the nature of the entity’s operations and its principal activities;
f. the name of the parent entity;
g. the name of the ultimate parent entity of the group; and
h. either the number of employees at the end of the period or the average for
the period.
Compliance with International Accounting Standards
6. IAS 1.11 Does the entity disclose that its financial statements comply with International
Accounting Standards.
E 1
IFRS Disclosure checklist 2004 General
Disclosure made
Yes No N/A
Financial statements should not be described as complying with International

Accounting Standards unless they comply with all the requirements of each
applicable Standard and each applicable Interpretation of the Standing
Interpretations Committee.
7. IAS 1.19 When, in accordance with specific provisions in that Standard, an International
Accounting Standard is applied before its effective date, is that fact disclosed in
the financial statements.
8. IAS 1.13 In the extremely rare circumstances when management concludes that
compliance with a requirement in an International Accounting Standard would
be misleading, and therefore that departure from a requirement is necessary to
achieve a fair presentation, does the entity disclose:
a. that management has concluded that the financial statements fairly present
the entity’s financial position, financial performance and cash flows;
b. that it has complied in all material respects with applicable International
Accounting Standards except that it has departed from a Standard in order to
achieve a fair presentation;
c. the Standard from which the entity has departed, the nature of the departure,
including the treatment that the Standard would require, the reason why that
treatment would be misleading in the circumstances and the treatment
adopted; and
d. the financial impact of the departure on the entity’s net profit or loss, assets,
liabilities, equity and cash flows for each period presented.
Audit teams will need to obtain approval from their areas IAS Desks before
issuing an audit opinion on financial statements which are based on accounting
policies that are not in accordance with IAS.
Comparative information
IAS 1.38 Comparative information should be disclosed in respect of the previous period
for all numerical information in the financial statements, unless an International
Accounting Standard permits or requires otherwise.
9. IAS 1.38 Does the entity disclose comparative information in narrative and descriptive form
when it is relevant to an understanding of the current period’s financial statements.
Reporting period
10. IAS 1.49 When, in exceptional circumstances, the entity’s balance sheet date changes and
annual financial statements are presented for a period longer or shorter than one
year, does the entity disclose:
a. the reason for a period other than one year being used; and
b. that the income statement, changes in equity, cash flows and related notes are
not comparable with amounts for the preceding year.
Going concern
IAS 10.13 An enterprise should not prepare its financial statements on a going concern basis if
management determines after the balance sheet date either that it intends to liquidate
the enterprise or to cease trading, or that it has no realistic alternative but to do so.
11. IAS 1.23 When management is aware, in making its assessment of an entity’s ability to
continue as a going concern, of material uncertainties related to events or
conditions which may cast significant doubt upon the entity’s ability to continue
as a going concern, are those uncertainties disclosed.
12. IAS 1.23 When the financial statements are not prepared on a going concern basis, is the
following information disclosed:
a. the fact that the financial statements are not prepared on a going concern basis;
2 E
General IFRS Disclosure checklist 2004
Disclosure made
Yes No N/A
b. the basis on which the financial statements are prepared; and

c. the reason why the entity is not considered to be a going concern.
Date of authorisation
13. IAS 10.16 Does the entity disclose the following information:
a. the date the financial statements were authorised for issue;
b. who authorised the financial statements; and
c. if applicable, the fact that the entity’s owners or others have the power to
amend the financial statements after issue.
E 3
IFRS Disclosure checklist 2004 First-time adoption
Disclosure made
Yes No N/A
FIRST‐TIME ADOPTION
IFRS 1
IFRS 1.47 An entities are required to apply IFRS 1 First-time Adoption of International Financial
Reporting Standards in their first IFRS financial statements if these are for a period
beginning on or after 1 January 2004. Early application of IFRS 1 is encouraged.
IFRS 1 defines the following terms:

– Date of transition to IFRSs – The beginning of the earliest period for which an
entity presents full comparative information under IFRSs in its first IFRS
financial statements;
– Opening IFRS balance sheet – An entity’s balance sheet (published or
unpublished) at the date of transition to IFRSs;
– Reporting date – The end of the latest period covered by financial statements or
by an interim financial report;
– First IFRS financial statements – The first annual financial statements in which an
entity adopts International Financial Reporting Standards (IFRSs), by an
explicit and unreserved statement of compliance with IFRSs; and
– Previous GAAP – The basis of accounting that a first-time adopter used
immediately before adopting IFRSs.
An entity shall explain how the transition from previous GAAP to IFRSs
affected its reported financial position, financial performance and cash flows.
Reconciliations
IFRS 1.42 Please note that IAS 8 Net Profit or Loss for the Period, Fundamental Errors and Changes in
Accounting Policies does not deal with changes in accounting policies that occur when
an entity first adopts IFRSs. Therefore, IAS 8’s requirements for disclosures about
changes in accounting policies do not apply in an entity’s first IFRS financial
statements.
The IFRS 1 requirements for entities that present interim financial reports under
IAS 34 Interim Financial Reporting for part of the period covered by its first IFRS
financial statements are included in the section on Interim Reporting (starting on
page 85), which contains all disclosure requirements related to interim reporting.
That section does not need to be completed for annual financial statements.
14. IFRS 1.39 Does the entity explain how the transition from previous GAAP to IFRSs
affected its reported financial position, financial performance and cash flows.
Paragraph 63 of the Implementation Guidance to IFRS 1 provides an example of
the level of detail required in the reconciliations from previous GAAP to IFRS.
15. IFRS 1.39 Do the entity’s first IFRS financial statements include:
IFRS 1.40
a. reconciliations – that give sufficient detail to enable users to understand the
material adjustments to the balance sheet – of its equity reported under
previous GAAP to its equity under IFRSs for:
– the date of transition to IFRSs; and
– the end of the latest period presented in the entity’s most recent annual
financial statements under previous GAAP;
b. a reconciliation – that gives sufficient detail to enable users to understand the
material adjustments to the income statement – of the profit or loss reported
under previous GAAP for the latest period in the entity’s most recent annual
financial statements to its profit or loss under IFRSs for the same period; and
c. the disclosures in items 205. to 209. that would have been required by IAS 36
Impairment of Assets if the entity had recognised those impairment losses or
reversals in the period beginning with the date of transition to IFRSs.
4 E
First-time adoption IFRS Disclosure checklist 2004
Disclosure made
Yes No N/A
16. IFRS 1.40 If the entity presented a cash flow statement under its previous GAAP, does it
explain the material adjustments to the cash flow statement.
17. IFRS 1.41 Does the entity separately disclose:
a. in the reconciliations of equity:
– any errors made under previous GAAP; and
– changes in accounting policies;
b. in the reconciliation of profit or loss:
– changes in accounting policies.
18. IFRS 1.43 If an entity did not present financial statements for previous periods, has that
fact been disclosed.
Use of fair value as deemed cost
19. IFRS 1.44 If an entity uses fair value in its opening IFRS balance sheet as deemed cost for an
item of property, plant and equipment, an investment property or an intangible
asset, does it 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.
SIC‐8
IFRS 1.47 Entities are allowed to apply SIC-8 First-time Application of IASs as the Primary Basis of
Accounting for periods beginning before 1 January 2004. After that date application
of IFRS 1 First-time Adoption of International Financial Reporting Standards is mandatory.
20. SIC-8.7 In the period when IASs are applied in full for the first time as the primary
accounting basis, does the entity disclose:
a. if the amount of the adjustment to the opening balance of retained earnings
cannot be reasonably determined, that fact;
b. if it is impracticable to provide comparative information, that fact; and
c. for each IAS that permits a choice of transitional accounting policies, the
policy selected.
21. SIC-8.8 Does the entity disclose the fact that IASs are being applied in full for the first time.
E 5
IFRS Disclosure checklist 2004 Financial review by management
Disclosure made
Yes No N/A
FINANCIAL REVIEW BY MANAGEMENT
22. IAS 1.8 Does the entity present (outside the financial statements) a financial review by management which
describes and explains the main features of the entity’s financial performance and financial position
and the principal uncertainties it faces, including:
a. the main factors and influences determining performance, including:
– changes in the environment in which the entity operates;
– the entity’s response to those changes and their effect;
– the entity’s policy for investment to maintain and enhance performance; and
– the entity’s dividend policy;
b. the entity’s sources of funding, its policy on gearing and its risk management policies; and
c. the strengths and resources of the entity whose value is not reflected in the balance sheet
under International Accounting Standards.
23. IAS 1.9 Does the entity present outside the financial statements, additional statements such as
environmental reports and value added statements when management believes they will assist
users in making economic decisions, particularly in industries where environmental factors are
significant and when employees are considered to be an important user group.
24. SIC-6.5 Does the entity present, outside the financial statements, information about the principal
uncertainties they face as a result of the need for major software modifications such as that in
connection with the introduction of the euro (for example a description of the activities and
expenditure both incurred and planned to be incurred in future periods, in respect of significant
software modifications).
6 E
Balance sheet IFRS Disclosure checklist 2004
Disclosure made
Yes No N/A
BALANCE SHEET
IAS 1.42 The Appendix to IAS 1 provides a recommended format for the balance sheet,
which the entity may follow as appropriate in its own circumstances.
IAS 1.33 Assets and liabilities should not be offset, unless this is required or permitted by
an International Accounting Standard.
25. IAS 1.29 Are all material items presented separately in the balance sheet.
26. IAS 1.34 Are assets and liabilities presented separately and not offset (items may only be
offset when this is required or permitted by an International Accounting Standard).
27. IAS 1.38 Is comparative information presented for the previous period.
28. IAS 1.40 When the presentation or classification of items in the balance sheet is amended:
a. does the entity reclassify comparative amounts and disclose:
– the nature of the reclassification;
– the amount of the reclassification; and
– the reason for the reclassification;
b. if reclassification of comparative amounts is impracticable, does the entity
disclose:
– the reason for not reclassifying; and
– the nature of the changes that would have been made if amounts were
reclassified.
Current/non‐current distinction
29. IAS 1.53 If the entity does not present separately current and non-current assets, and
current and non-current liabilities, does it present assets and liabilities broadly in
order of their liquidity.
30. If the entity presents current and non-current assets, and current and non-
current liabilities, separately:
IAS 1.57 a. does the entity classify an asset as current when:
i. it is expected to be realised in, or is held for sale or consumption in, the
normal course of the entity’s operating cycle; or
ii. it is held primarily for trading purposes or for the short-term and is
expected to be realised within twelve months of the balance sheet date; or
iii. it is cash or a cash equivalent asset, which is not restricted in its use.
IAS 1.60 b. does the entity classify a liability as current when:
i. it is expected to be settled in the normal course of the entity’s operating
cycle; or
ii. it is due to be settled within twelve months of the balance sheet date.
IAS 1.63 c. does the entity classify its long-term interest-bearing liabilities as non-current,
even when they are due to be settled within twelve months of the balance
sheet date because:
i. the original term was for a period of more than twelve months;
ii. the entity intends to refinance the obligation on a long-term basis; and
iii. that intention is supported by an agreement to refinance or to reschedule
payments, which is completed before the financial statements are
authorised for issue.
IAS 1.63 Does the entity disclose in the notes to the balance sheet, the amount of any
liability that has been excluded from current liabilities in accordance with this
requirement, together with information in support of this presentation.
E 7
IFRS Disclosure checklist 2004 Balance sheet
Disclosure made
Yes No N/A
31. IAS 1.54 Whether or not current and non-current assets are presented separately, does the
entity disclose, for each asset and liability item that combines amounts expected
to be recovered or settled both before and after twelve months from the balance
sheet date, the amount expected to be recovered or settled after more than
twelve months.
Information to be presented on the face of the balance sheet
32. IAS 1.66 Are the following line items included on the face of the balance sheet:
a. property, plant and equipment;
b. intangible assets;
c. financial assets (excluding amounts shown under d., f. and g.);
d. investments accounted for using the equity method;
e. inventories;
f. trade and other receivables;
g. cash and cash equivalents;
h. trade and other payables;
i. tax liabilities and assets (as required by IAS 12 Income Taxes, see item 35.);
j. provisions;
k. non-current interest-bearing liabilities;
l. minority interest; and
m. issued capital and reserves.
33. IAS 1.67 Are additional line items, headings and sub-totals presented on the face of the
balance sheet when such presentation is necessary to present fairly the entity’s
financial position.
34. IAS 1.72 Does the entity disclose (either on the face of the balance sheet or in the notes
to the balance sheet) further sub-classifications of the line items presented,
classified in a manner appropriate to the entity’s operations and by its nature.
IAS requires balance sheet disclosure with respect to the following items:
– Minority interest (IAS 27.26, see item 116.);
– Negative goodwill (IAS 22.64, see item 222.);
– Associates (IAS 28.28, see item 232.); and
– Construction contracts (IAS 11.42, see item 345).
Taxation
35. IAS 12.69 Have the following items been presented separately in the balance sheet:
a. current tax assets (tax receivable);
b. current tax liabilities (tax payable);
c. deferred tax assets; and
d. deferred tax liabilities.
IAS 12.71 Guidance on offsetting current and deferred tax items is provided in IAS 12.71
IAS 12.74 and IAS 12.74, respectively.
36. IAS 12.70 When the entity makes a distinction between current and non-current assets and
liabilities in its financial statements, has it presented deferred tax assets and
deferred tax liabilities as non-current items.
8 E
Income statement IFRS Disclosure checklist 2004
Disclosure made
Yes No N/A
INCOME STATEMENT
IAS 1.42 The Appendix to IAS 1 provides a recommended format for the income
statement, which the entity may follow as appropriate in its own circumstances.
37. IAS 1.29 Are all material items presented separately in the income statement.
38. IAS 1.34 Are items of income and expense presented separately and not offset (items may
only be offset when this is required or permitted by an International Accounting
Standard).
IAS 1.36 Examples of items which are offset in the income statement include the
IAS 1.37 following:
a. gains and losses on the disposal of non-current assets, including
investments and operating assets, are reported by deducting from the
proceeds on disposal the carrying amount of the asset and related selling
expenses;
b. expenditure that is reimbursed under a contractual arrangement with a third
party (a sub-letting agreement, for example) are netted against the related
reimbursement;
c. extraordinary items may be presented net of related taxation and minority
interest with the gross amounts shown in the notes; and
d. gains and losses arising from a group of similar transactions are reported on
a net basis, for example foreign exchange gains and losses or gains and
losses arising on financial instruments held for trading purposes.
40. IAS 1.40 When the presentation or classification of items in the income statement is
amended:
disclose:
reclassified.
Information to be presented on the face of the income statement
IAS 32.30 Interest, dividends, losses and gains relating to a financial instrument classified as
a financial liability, or a component part of one, should be reported in the income
statement as expense or income. Distributions to holders of a financial
instrument classified as an equity instrument should be debited by the issuer
directly to equity.
41. IAS 1.75 Does the income statement include line items that present the following
amounts:
a. revenue;
b. the results of operating activities;
c. finance costs;
d. share of profits and losses of associates and joint ventures accounted for
using the equity method;
e. tax expense;
f. profit or loss from ordinary activities;
g. extraordinary items;
E 9
IFRS Disclosure checklist 2004 Income statement
Disclosure made
Yes No N/A
h. minority interest; and

i. net profit or loss for the period.
42. IAS 1.75 Are additional line items, headings and sub-totals presented on the face of the
income statement when such presentation is necessary to present fairly the
entity’s financial performance.
43. IAS 1.77 Does the entity present an analysis of expenses using a classification based on
either:
IAS 1.81 a. the nature of expenses (in which case the presentation of the ‘change in
finished goods’ should not imply that such amounts represent income); or
b. the function of expenses within the entity.
IAS 1.78 Disclosure of this analysis on the face of the income statement is encouraged.
44. IAS 1.83 If the entity classifies expenses by function, does it disclose additional
information on:
a. the nature of expenses;
b. depreciation and amortisation expense; and
c. staff costs.
45. IAS 1.85 Does the entity disclose (either on the face of the income statement or in the
IAS 10.12 notes) the amount of dividends per share, declared or proposed, for the period
covered by the financial statements.
IAS requires disclosure in the income statement of the following items:
– Minority interest (IAS 27.26, see item 117.); and
– Associates (IAS 28.28, see item 233.).
Changes in accounting estimate
46. IAS 8.28 Have the effects of changes in accounting estimates been included in the same
income statement classification that was used previously for the estimate.
47. IAS 8.30 Has the following information been disclosed for changes in accounting
estimates that have a material effect in the current period or are expected to have
a material effect in subsequent periods:
a. the amount of the change;
b. the nature of the change; and
c. if applicable, the fact that it is impracticable to quantify the amount.
Ordinary and extraordinary profits and losses
48. IAS 8.10 Are the following components of net profit and loss for the period disclosed on
the face of the income statements:
a. profit and loss from ordinary activities; and
b. extraordinary items.
49. IAS 8.16 When items of income and expense within profit or loss from ordinary activities
are of such a size, nature or incidence that their disclosure is relevant to explain
the performance of the entity for the period (see IAS 8.18 for examples), has the
following information been disclosed separately:
a. the amount; and
b. the nature of the item.
10 E
Income statement IFRS Disclosure checklist 2004
Disclosure made
Yes No N/A
IAS 8.18 Circumstances that may give rise to the separate disclosure of items of income
and expense:
a. the write-down of inventories to net realisable value or property, plant and
equipment to recoverable amount, as well as the reversal of such write-downs;
b. a restructuring of the activities of an enterprise and the reversal of any
provisions for the costs of restructuring;
c. disposals of items of property, plant and equipment;
d. disposals of long-term investments;
e. discontinued operations;
f. litigation settlements; and
g. other reversals of provisions.
IAS 19.131 Although IAS 19 does not require specific disclosures about other long-term
employee benefits, IAS 8 Net Profit or Loss for the Period, Fundamental Errors and Changes
in Accounting Policies may require disclosures, for example when the expense resulting
from such benefits is of such a size, nature or incidence that its disclosure is relevant
to explain the performance of the entity for the period.
50. IAS 8.11 Is the following information disclosed for each extraordinary item:
a. the amount; and
b. the nature of the item.
Taxation
51. IAS 12.77 Does the entity present tax expense (income) related to profit or loss from
ordinary activities on the face of the income statement.
IAS 12.78 provides additional guidance on the presentation of exchange
differences on deferred foreign tax liabilities or assets in the income statement.
EARNINGS PER SHARE
IAS 33.1 IAS 33 Earnings per Share should be applied by the entity if:
IAS 33.4 a. its ordinary shares or potential ordinary shares are publicly traded;
b. it is in the process of issuing ordinary shares or potential ordinary shares in
public securities markets; or
c. it discloses earnings per share on a voluntary basis.
IAS 33.2 When both parent and consolidated financial statements are presented, the
disclosures required by IAS 33 need be presented only on the basis of
consolidated information.
IAS 33.52 IAS 33 encourages disclosure of information that helps users to evaluate the
performance of the entity which may take the form of per share amounts for
various components of net profit. However, when such amounts are disclosed,
the denominators are calculated in accordance with IAS 33 to ensure the
comparability of the per share amounts disclosed.
IAS 33.48 IAS 33 requires an entity to present basic and diluted earnings per share, even if
the amounts disclosed are negative (a loss per share).
52. IAS 33.43 If the number of ordinary or potential ordinary shares outstanding increases as a
result of a capitalisation or bonus issue or share split, or decreases as a result of a
reverse share split (even if these changes occur after the balance sheet date but
before issue of the financial statements):
a. has the calculation of basic and diluted earnings per share for all periods
presented been adjusted retrospectively; and
b. has the fact that per share calculations reflect such changes in the number of
shares been disclosed.
E 11
IFRS Disclosure checklist 2004 Income statement
Disclosure made
Yes No N/A
53. IAS 33.45 Does the entity disclose a description of ordinary share transactions or potential ordinary share
transactions, other than capitalisation issues and share splits, which occur after the balance sheet
date and are of such importance that non-disclosure would affect the ability of the users of the
financial statements to make proper evaluations and decisions (see IAS 33.45 for examples of
such transactions).
54. IAS 33.47 Does the entity present basic and diluted earnings per share on the face of the
income statement for each class of ordinary shares that has a different right to
share in the net profit for the period.
55. IAS 33.47 Does the entity present basic and diluted earnings per share with equal
prominence for all periods presented.
56. IAS 33.49 Does the entity disclose the following:
a. the amounts used as the numerators in calculating basic and diluted earnings
per share;
b. a reconciliation of the amounts used as the numerators in calculating basic
and diluted earnings per share to the net profit or loss for the period;
c. the weighted average number of ordinary shares used as the denominator in
calculating basic and diluted earnings per share; and
d. a reconciliation of the weighted average number of ordinary shares, used as
the denominator in calculating basic earnings per share, to that used for
calculating the diluted earnings per share.
57. IAS 33.50 Does the entity disclose the terms and conditions of financial instruments and other contracts
generating potential ordinary shares which affect the measurement of basic and diluted earnings
per share (even when the disclosure of the terms and conditions is not required by IAS 32).
58. IAS 33.51 If the entity discloses, in addition to basic and diluted earnings per share, per
share amounts using a reported component of net profit other than net profit or
loss for the period attributable to ordinary shareholders:
a. have such amounts been calculated using the weighted average number of
ordinary shares determined in accordance with IAS 33;
b. has a reconciliation been provided between the component used and a line
item which is reported in the income statement, where a component of net
profit is used that is not reported as a line item in the income statement; and
c. are basic and diluted per share amounts disclosed with equal prominence.
12 E
Cash flow statement IFRS Disclosure checklist 2004
Disclosure made
Yes No N/A
CASH FLOW STATEMENT
IAS 1.42 The Appendix to IAS 7 provides a recommended format for the cash flow
statement, which the entity may follow as appropriate in its own circumstances.
IAS 7.19 Entities are encouraged to report cash flows from operating activities using the
direct method.
59. IAS 1.29 Are all material items presented separately in the cash flow statement.
61. IAS 1.40 When the presentation or classification of an item in the cash flow statement is
amended:
disclose:
reclassified.
Presentation
62. IAS 7.10 Are the cash flows during the period classified by operating, investing and
financing activities (definitions of these different categories of cash flows are
presented in IAS 7.13-15, IAS 7.16 and IAS 7.17, respectively).
63. IAS 7.18 Does the entity report cash flows from operating activities using either:
i. the direct method, whereby major classes of gross cash receipts and gross
cash payments are disclosed (this method is encouraged); or
ii. the indirect method, whereby net profit or loss is adjusted for the effects of
transactions of a non-cash nature, any deferrals or accruals of past or future
operating cash receipts or payments, and items of income or expense
associated with investing or financing cash flows.
64. IAS 7.21 Does the entity report major classes of gross receipts and gross cash payments
arising from investing and financing activities separately.
65. IAS 7.22 Are cash flows arising from the following operating, investing or financing
activities reported on a net basis:
a. cash receipts and payments on behalf of customers when the cash flows
reflect 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.
IAS 7.24 Cash flows arising from each of the following activities of a financial institution
may be reported on a net basis:
a. cash receipts and payments for the acceptance and repayment of deposits
with a fixed maturity date;
b. the placement of deposits with and withdrawal of deposits from other
financial institutions; and
c. cash advances and loans made to customers and the repayment of those
advances and loans.
E 13
IFRS Disclosure checklist 2004 Cash flow statement
Disclosure made
Yes No N/A
Components of cash and cash equivalents
IAS 7.8 Bank borrowings are generally considered to be financing activities. However, in
some countries, bank overdrafts that are repayable on demand form an integral
part of the entity’s cash management. In these circumstances, bank overdrafts are
included as a component of cash and cash equivalents. A characteristic of such
banking arrangements is that the bank balance often fluctuates from being
positive to overdrawn.
66. IAS 7.4 Does the entity disclose the components of cash and cash equivalents.
67. IAS 7.46 Does the entity disclose the policy adopted in determining the composition of
cash and cash equivalents.
68. IAS 7.45 Has a reconciliation of the amounts of cash and cash equivalents in the cash flow
statement with the equivalent items in the balance sheet been provided.
Acquisitions of subsidiaries and business units
69. IAS 7.39 Have the aggregate cash flows arising from acquisitions of subsidiaries or other
business units been presented separately and classified as investing activities in
the cash flow statement.
70. IAS 7.40 Has the following information been disclosed, in aggregate, for acquisitions of
subsidiaries or other business units during the period:
a. the total purchase consideration;
b. the portion of the 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.
Disposals of subsidiaries and business units
71. IAS 7.39 Have the aggregate cash flows arising from disposals of subsidiaries or other
business units been presented separately and classified as investing activities in
the cash flow statement.
72. IAS 7.40 Has the following information been disclosed, in aggregate, for disposals of
subsidiaries or other business units during the period:
a. the total disposal consideration;
b. the portion of the 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.
Other cash flow information
73. IAS 7.29 Have extraordinary items arising from operating, investing and financing
activities been disclosed separately.
74. Have the following cash flows been disclosed separately:
IAS 7.31 a. cash inflow from interest;
IAS 7.31 b. cash outflow from interest;
IAS 7.31 c. cash inflow from dividends;
14 E
Cash flow statement IFRS Disclosure checklist 2004
Disclosure made
Yes No N/A
IAS 7.31 d. cash outflow from dividends; and

IAS 7.35 e. cash flows from taxes.
75. IAS 7.36 When tax cash flows are allocated over more than one class of activity, has the
total amount of taxes paid been disclosed.
76. IAS 7.43 Are investing and financing transactions that do not require the use of cash or
cash equivalents:
a. excluded from the cash flow statement; and
b. disclosed elsewhere in the financial statements in a way that provides all the
relevant information about these investing and financing activities.
77. IAS 7.48 Has the entity disclosed the following information regarding significant cash and
cash equivalent balances held, but that are not available for use by the group:
a. the amount; and
b. a commentary by management.
78. IAS 7.50 Has the entity disclosed the following information:
a. the amount of undrawn borrowing facilities that may be available for future operating
activities and to settle capital commitments, indicating any restrictions on the sue of these
facilities.
b. the aggregate amounts of the cash flows from each of operating, investing and financing
activities related to interests in joint ventures reported using proportionate consolidation;
c. the aggregate amount of cash flows that represent increases in operating capacity separately
from those cash flows that are required to maintain operating capacity; and
d. cash flows of each reported industry and geographical segment arising from:
– operating activities;
– investing activities; and
– financing activities.
Disclosure requirements regarding business and geographical segments are
addressed in the section on Segment reporting.
E 15
IFRS Disclosure checklist 2004 Statement of changes in equity
Disclosure made
Yes No N/A
STATEMENT OF CHANGES IN EQUITY
IAS 1.42 The Appendix to IAS 1 provides a recommended formats for the statement of
changes in equity, which the entity may follow as appropriate in its own
circumstances.
79. IAS 1.29 Are all material items presented separately in the statement of changes in equity.
81. IAS 1.40 When the presentation or classification of items in the statement of changes in
equity is amended:
disclose:
reclassified.
Content of the statement of changes in equity
82. IAS 1.86 Does the statement of changes in equity include:

a. the net profit or loss for the period;
IFRIC 1.6 b. each item of income and expense, gain or loss which, as required by other
Standards, is recognised directly in equity; including any change in the
revaluation surplus arising from a change in the decommissioning,
restoration and similar liability.
c. the total of the items under b. above; and
d. the cumulative effect of changes in accounting policy and the correction of
fundamental errors dealt with by adjusting the opening balance of retained
earnings (the IAS 8 benchmark treatment).
Note: although IFRIC 1 has been included in this checklist it is only applicable for
entities with annual periods beginning on or after 1 September 2004.
83. IAS 1.86 Is the following information presented either within the statement of changes in
equity or in the notes:
a. capital transactions with owners and distributions to owners;
b. the balance of accumulated profit or loss at the beginning of the period and
at the balance sheet date, and the movements for the period; and
c. a reconciliation between the carrying amount of each class of equity capital,
share premium and each reserve at the beginning and the end of the period,
separately disclosing each movement.
16 E
Notes – Significant accounting policies IFRS Disclosure checklist 2004
Disclosure made
Yes No N/A
NOTES TO THE FINANCIAL STATEMENTS
84. IAS 1.91 Do the notes to the financial statements:

a. present information about the basis of preparation of the financial
statements;
b. present the specific accounting policies selected and applied for significant
transactions and events;
c. disclose the information required by International Accounting Standards that
is not presented elsewhere in the financial statements; and
d. provide additional information which is not presented on the face of the
financial statements but that is necessary for a fair presentation.
85. IAS 1.92 Are the notes to the financial statements presented in a systematic manner and
are there cross references from the items on the face of the balance sheet,
income statement and cash flow statement to related information in the notes.
SIGNIFICANT ACCOUNTING POLICIES
86. IAS 1.97 Do the accounting policies section of the notes to the financial statements
describe the following:
a. the measurement basis (historical cost, current cost, realisable value, fair
value or present value) used in preparing the financial statements; and
b. each specific accounting policy that is necessary for a proper understanding
of the financial statements.
87. IAS 27.21 If it is not practicable to use uniform accounting policies in preparing the
consolidated financial statements, has the following information been disclosed:
a. the fact that different accounting policies have been applied; and
b. the proportions of the items in the consolidated financial statements to
which the different accounting policies have been applied.
88. IAS 1.99 Are accounting policies disclosed for the following:
a. revenue recognition;
b. consolidation principles, including subsidiaries and associates;
c. business combinations;
d. joint ventures;
e. recognition and depreciation/amortisation of tangible and intangible assets;
f. capitalisation of borrowing costs and other expenditure;
g. construction contracts;
h. investment properties;
i. financial instruments and investments;
j. leases;
k. research and development costs;
l. inventories;
m. taxes, including deferred taxes;
n. provisions;
o. employee benefit costs;
p. foreign currency translation and hedging;
q. definition of business and geographical segments and the basis for allocation
of costs between segments;
r. definition of cash and cash equivalents;
s. inflation accounting; and
t. government grants.
E 17
IFRS Disclosure checklist 2004 Notes – Specific accounting policies
Disclosure made
Yes No N/A
89. IAS 1.101 Does the entity disclose each accounting policy selected and applied that is not
covered by existing International Accounting Standards (see IAS 1.20 for
additional guidance on how management should develop accounting policies that
result in relevant and reliable information).
SPECIFIC ACCOUNTING POLICIES
The questions on accounting policies below are repeated under section headings
which conform to the sections of the checklist.
90. IAS 23.9 Capitalisation of borrowing costs (page 25) – Does the entity disclose whether it
IAS 23.29 expenses borrowing costs as incurred (benchmark treatment) or whether it
capitalises borrowing costs (allowed alternative treatment).
91. IAS 7.46 Cash and cash equivalents (page 14) – Does the entity disclose the policy adopted in
determining the composition of cash and cash equivalents.
92. IAS 27.32 Consolidated financial statements (page 23) – Does the entity disclose in its separate
financial statements a description of the method used to account for subsidiaries.
93. IAS 19.120 Employee Benefits: Defined benefit plans (page 27) – Does the entity disclose its
accounting policy for recognising actuarial gains and losses on defined benefit
plans.
94. IAS 19.147 Employee Benefits: Equity compensation plans (page 29) – Does the entity disclose its
accounting policy for equity compensation plans.
95. IAS 32.47 Financial instruments (page 31) – Does the entity describe for each class of financial
asset, financial liability and equity instrument, both recognised and unrecognised:
a. the accounting policies and methods adopted;
b. the criteria for recognition;
c. the basis of measurement applied;
IAS 32.54 d. the method of applying the basis of measurement (weighted average, FIFO
or LIFO);
IAS 39.167 e. the methods and significant assumptions applied in estimating fair values of
financial assets and financial liabilities that are carried at fair value, separately
for significant classes of financial assets (IAS 32.46 provides guidance on
determining classes of financial assets);
IAS 39.168 f. the following significant assumptions:
– prepayment rates;
– rates of estimated credit losses; and
– interest or discount rates;
IAS 32.54 g. for financial assets and financial liabilities carried at cost the accounting for:
– costs of acquisition or issuance;
– premiums and discounts on monetary financial assets and financial
liabilities;
– changes in the estimated amount of determinable future cash flows
associated with a monetary financial instrument (such as a bond indexed
to a commodity price);
– changes in circumstances that result in significant uncertainty about the
timely collection of all contractual amounts due from monetary financial
assets;
– declines in the fair value of financial assets below their carrying amount;
and
– restructured financial liabilities;
IAS 32.54 h. for financial assets and financial liabilities carried at fair value:
18 E
Notes – Specific accounting policies IFRS Disclosure checklist 2004
Disclosure made
Yes No N/A
– whether carrying amounts are determined from quoted market prices,

independent appraisals, discounted cash flow analysis or another
appropriate method; and
– any significant assumptions made in applying those methods;
IAS 39.167 i. whether gains and losses arising from changes in the fair value of those
available-for-sale financial assets that are measured at fair value subsequent to
initial recognition are included in net profit or loss for the period or are
recognised directly in equity until the financial asset is disposed of;
j. for each category of financial assets (trading, held-to-maturity, available-for-
sale, and loans and receivables originated by the entity), whether ‘regular way’
purchases and sales of financial assets are accounted for at trade date or
settlement date;
IAS 32.52 k. the criteria applied in determining when to recognise a financial asset or
financial liability on the balance sheet and when to cease to recognise it;
l. the basis of measurement applied to financial assets and financial liabilities
both on initial recognition and subsequently; and
m. the basis on which income and expense arising from financial assets and
financial liabilities is recognised and measured.
96. IAS 32.55 Financial instruments (page 31) – Does the entity disclose the basis for reporting
realised and unrealised gains and losses, interest and other items of income and
expense associated with financial assets and financial liabilities in the income
statement.
97. IAS 32.55 Financial instruments (page 31) – Does the entity disclose the basis on which income
and expense arising from financial instruments held for hedging purposes are
recognised.
98. IAS 20.39 Government grants (page 44) – Has the following information on government grants
been disclosed:
a. the accounting policy adopted for government grants; and
b. the methods of presentation adopted in the financial statements.
In respect of intangible assets acquired in business combinations the IAS 38
(1998) Intangible Assets disclosures shown below apply only if the business
combination agreement date is prior to 31 March 2004.
For intangible assets acquired in business combinations for which the agreement
date is on or after 31 March 2004, the entity shall apply IAS 38 (Revised) Intangible
Assets and the disclosures shown in the section ‘Business Combinations accounted
for under IFRS 3’ on p 68 apply, reference to these disclosures are distinguished
by an (R) subsequent to the IFRS 3 paragraph reference.
If an entity has early adopted IFRS 3 Business Combinations, IAS 38 (Revised) also
needs to be applied from the date the entity has applied IFRS 3 and therefore the
disclosures shown in the section ‘Business Combinations accounted for under
IFRS 3’ on p 68 apply, reference to these disclosures are distinguished by an (R)
subsequent to the IFRS 3 paragraph reference.
99. IAS 38.107 Intangible assets (page 47) – Has the following information been disclosed for each
class of intangible assets, distinguishing between internally generated intangible
assets and other intangible assets:
a. the useful lives or the amortisation rates used;
b. the amortisation methods used; and
IAS 38.111 c. if an intangible asset is amortised over more than twenty years, the reasons
the presumption that the useful life of that intangible asset will not exceed
twenty years from the date when the asset is available for use is rebutted; and
d. in providing the reasons why the presumption that the useful life of an
intangible asset will not exceed twenty years from the date when the asset is
available for use is rebutted, does the entity describe the factor(s) that played
a significant role in determining the useful life of the asset.
E 19
IFRS Disclosure checklist 2004 Notes – Specific accounting policies
Disclosure made
Yes No N/A
IAS 38.80 Factors that the entity should consider in determining the useful life of an
intangible asset include:
a. the expected usage of the asset by the enterprise and whether the asset
could be efficiently managed by another management team;
b. typical product life cycles for the asset and public information on estimates
of useful lives of similar types of assets that are used in a similar way;
c. technical, technological or other types of obsolescence;
d. the stability of the industry in which the asset operates and changes in the
market demand for the products or services output from the asset;
e. expected actions by competitors or potential competitors;
f. the level of maintenance expenditure required to obtain the expected future
economic benefits from the asset and the company's ability and intent to
reach such a level;
g. the period of control over the asset and legal or similar limits on the use of
the asset, such as the expiry dates of related leases; and
h. whether the useful life of the asset is dependent on the useful life of other
assets of the enterprise.
For business combinations having an agreement date prior to 31 March 2004 (or
an earlier date if IFRS 3 Business Combinations has been early adopted by the
entity) the disclosure shown below apply.
For business combinations having an agreement date on or after 31 March 2004

(or an earlier date if IFRS 3 Business Combinations has been early adopted by the
entity), the disclosures shown in the section ‘Business Combinations accounted
under IFRS 3’ on p 68 apply, reference to these disclosures are distinguished by
an (R) subsequent to the IFRS 3 paragraph reference.
100. IAS 22.88 Intangible assets: goodwill (page 49) – Has the following information been disclosed
in the financial statements regarding goodwill:
a. the amortisation period(s) adopted;
b. the line item(s) of the income statement in which the amortisation of
goodwill is included;
c. if goodwill is amortised over more than twenty years, the reasons the
presumption that the useful life of goodwill will not exceed twenty years
from initial recognition is rebutted;
d. in providing the reasons the presumption that the useful life of goodwill will
not exceed twenty years from initial recognition is rebutted, does the entity
describe the factor(s) that played a significant role in determining the useful
life of the goodwill;
20 E
Notes – Specific accounting policies IFRS Disclosure checklist 2004
Disclosure made
Yes No N/A
IAS 22.48 Factors that the entity should consider in determining the useful life of goodwill
include:
a. the nature and foreseeable life of the acquired business ;
b. the stability and foreseeable life of the industry to which the goodwill
relates;
c. public information on the characteristics of goodwill in similar businesses
or industries and typical lifecycles of similar businesses;
d. the effects of product obsolescence, changes in demand and other
economic factors on the acquired business;
e. the service life expectancies of key individuals or groups of employees and
whether the acquired business could be efficiently managed by another
management team;
f. the level of maintenance expenditure or of funding required to obtain the
expected future economic benefits from the acquired business and the
company's ability and intent to reach such a level;
g. expected actions by competitors or potential competitors; and
h. the period of control over the acquired business and legal, regulatory or
contractual provisions affecting its useful life.
e. if goodwill is not amortised on a straight-line basis, the method used and

reason that method is more appropriate than the straight-line method; and
IAS 21.45 f. whether the entity treats goodwill and fair value adjustments arising on the
acquisition of a foreign entity as:
i. non-monetary items which are carried in terms of historical cost
denominated in a foreign currency that are reported using the exchange
rate at the date of the transaction; or
ii. assets or liabilities of the foreign entity that are translated at the closing
rate;

under IFRS 3’ on p 68 apply, reference to these disclosures are distinguished by
an (R) subsequent to the IFRS 3 paragraph reference.
101. IAS 22.91 Intangible assets: goodwill (page 49) – Has the following information been disclosed
in the financial statements regarding negative goodwill:
a. the period(s) over which negative goodwill is recognised as income; and
b. the line item(s) of the income statement in which negative goodwill is
recognised as income.
102. IAS 2.34 Inventories (page 54) – Does the entity disclose the accounting policies adopted in
measuring inventories, including the cost formula used.
103. IAS 40.66 Investment property (page 51) – Does the entity disclose the following:
a. when classification is difficult, the criteria developed by the entity to
distinguish investment property from owner-occupied property and from
property held for sale in the ordinary course of business; and
b. the methods and significant assumptions applied in determining the fair value
of investment property.
104. IAS 16.61 Property, plant and equipment (page 56) – Has the accounting policy for the estimated
costs of restoring the site of items of property, plant or equipment been
disclosed.
105. IAS 18.35 Revenue (page 59) – Does the entity disclose:
E 21
IFRS Disclosure checklist 2004 Notes – Changes in accounting policies
Disclosure made
Yes No N/A
a. the accounting policies adopted for the recognition of revenue; and

b. the methods adopted to determine the stage of completion of transactions
involving the rendering of services.
CHANGES IN ACCOUNTING POLICIES
IAS 8.49 IAS 8 provides a benchmark treatment and an allowed alternative treatment in
IAS 8.54 accounting for changes in accounting policies. The disclosure requirements differ
depending on whether the entity applies the benchmark treatment (which requires
any adjustment to be reported as an adjustment to the opening equity) or the
allowed alternative method (which requires any adjustment to be included in the
determination of the net profit or loss for the year). However, one treatment or
the other must be consistently applied.
Benchmark treatment
106. IAS 8.49 Has the adjustment resulting from the change in accounting policy been reported
by adjusting the opening balance of retained earnings.
107. IAS 8.49 Has the comparative information been restated (unless it is impracticable to do so).
108. IAS 8.53 When the change in accounting policy has a material effect on the current period
or any prior period presented (or may have material effect in subsequent
periods), does the entity disclose the following:
a. the reasons for the change;
b. the amount of the adjustment for the current period and for each prior
period presented;
c. the amount of the adjustment relating to periods prior to those included in
the comparative information; and
d. the fact that comparative information has been restated or that it is
impracticable to do so.
Allowed alternative treatment
109. IAS 8.54 Has the adjustment resulting from the change in accounting policy been included
in the determination of net profit for the current period.
110. IAS 8.54 Does the entity present pro forma restated comparative information (unless it is
impracticable to do so).
111. IAS 8.57 When the change in accounting policy has a material effect on the current period
or any prior period presented (or may have material effect in subsequent
periods), does the entity disclose the following:
a. the reasons for the change;
b. the amount of the adjustment recognised in net profit or loss for the current
period; and
c. the amount of the adjustment included in each period for which pro forma
information is presented;
d. the amount of the adjustment relating to periods prior to those included in
the pro forma information;
e. if it is impracticable to present pro forma information, has this fact been
disclosed.
New standards
112. IAS 8.48 When the entity has not adopted a new International Accounting Standard which has been
published by the International Accounting Standards Committee but which is not yet effective,
has the entity disclosed:
a. the nature of the future change in accounting policy; and
b. an estimate of the effect of the change on its net profit or loss and financial position.
22 E
Notes – Consolidated financial statements IFRS Disclosure checklist 2004
Disclosure made
Yes No N/A
CONSOLIDATED FINANCIAL STATEMENTS
IAS 27.8 A parent that is a wholly owned subsidiary, or is virtually wholly owned, need not
present consolidated financial statements provided, in the case of one that is
virtually wholly owned, the parent obtains the approval of the owners of the
minority interest.
113. IAS 27.8 Does a parent that is not required to present consolidated financial statements
disclose the following information:
a. the reasons why consolidated financial statements have not been presented;
b. the bases on which subsidiaries are accounted for in its separate financial
statements;
c. the name of its parent that publishes consolidated financial statements; and
d. the registered office of its parent that publishes consolidated financial
statements.
114. Have the following disclosures been made:
IAS 27.32 a. in consolidated financial statements a listing of significant subsidiaries including:
– the name;
– the country of incorporation or residence;
– the proportion of ownership interest; and
– if different, the proportion of voting power held;
IAS 27.32 b. in consolidated financial statements, where applicable:
– the reasons for not consolidating subsidiaries;
– the nature of the relationships between the parent and any subsidiaries
where the parent does not own, directly or indirectly through subsidiaries,
more than one half of the voting power;
– the names of any entities in which more than one half of the voting
power is owned, directly or indirectly through subsidiaries, but which,
because of the absence of control, are not subsidiaries; and
– the effect of the acquisition and disposal of subsidiaries on:
– the financial position at the reporting date;
– the results for the reporting period and on the corresponding
amounts for the preceding period;
IAS 27.32 c. in the parent’s separate financial statements, a description of the method
used to account for subsidiaries.
115. IAS 27.21 If it is not practicable to use uniform accounting policies in preparing the
consolidated financial statements, has the following information been disclosed:
a. the fact that different accounting policies have been applied; and
b. the proportions of the items in the consolidated financial statements to
which the different accounting policies have been applied.
116. IAS 27.26 Has any minority interest in the net assets of consolidated subsidiaries been
presented in the consolidated balance sheet separately from liabilities and the
parent shareholders’ equity.
117. IAS 27.26 Has any minority interest in the income of the group been presented separately
in the consolidated income statement.
E 23
IFRS Disclosure checklist 2004 Notes – Business combinations
Disclosure made
Yes No N/A
BUSINESS COMBINATIONS

under IFRS 3’ p 68 apply, reference to these disclosures are distinguished by an
(R) subsequent to the IFRS 3 paragraph reference.
118. IAS 22.86 Have the following disclosures been made in the financial statements for each
business combination:
a. the names and descriptions of the combining entities;
b. the method of accounting for the combination;
c. the effective date of the combination for accounting purposes; and
d. any operations resulting from the business combination which the entity has
decided to dispose of.
Acquisitions
Disclosure requirements regarding cash flows from acquisitions and disposals of

subsidiaries or other business units are addressed in the section on Cash Flow
Statements.
119. IAS 22.93 If, in an acquisition, the fair values of the identifiable assets and liabilities or the
purchase consideration can only be determined on a provisional basis at the end
of the period in which the acquisition took place, has the following information
been disclosed:
a. the fact that the fair values of the identifiable assets and liabilities or the
purchase consideration can only be determined on a provisional basis and the
reasons for this; and
b. an explanation of subsequent adjustments to provisional fair values.
120. IAS 22.87 For a business combination which is an acquisition, have the following additional
disclosures been made in the financial statements for the period during which
the acquisition has taken place:
a. the percentage of voting shares acquired; and
b. the cost of acquisition; and
c. a description of the purchase consideration paid or contingently payable.
121. SIC-22.8 If adjustments have been made during the allocation period (which ends by the
end of the first annual accounting period commencing after acquisition, see
IAS 22.71) to the carrying amounts of identifiable assets or liabilities, or goodwill
or negative goodwill, has the following information been disclosed:
a. an explanation of the adjustments;
b. the amount of the adjustments; and
c. the amount that relates to prior and comparative periods.
122. SIC-28.7 When a published price of an equity instrument issued as purchase consideration
exists at the date of exchange, but has not been used as the instruments’ fair
value, does the entity disclose:
a. that fact;
b. the reasons why the published price is not the fair value of the equity
instruments;
c. the method and significant assumptions applied to determine the fair value; and
d. the aggregate amount of the difference between the published price and the
amount determined to be the fair value of the equity instruments.
24 E
Notes – Capitalisation of borrowing costs IFRS Disclosure checklist 2004
Disclosure made
Yes No N/A
123. SIC-28.8 When an equity instrument issued as purchase consideration does not have a
published price at the date of exchange, does the entity disclose:
a. that fact; and
b. the method and significant assumptions applied to determine the fair value.
Uniting of interests
124. IAS 22.94 For a business combination which is a uniting of interests, have the following
additional disclosures been made in the financial statements for the period
during which the uniting of interests took place:
a. a description of and the number of shares issued of each entity’s voting
shares exchanged to effect the uniting of interests;
b. the percentage of each entity’s voting shares exchanged to effect the uniting
of interests;
c. the amounts of assets and liabilities contributed by each entity; and
d. for each entity prior to the date of the combination that is included in the net
profit or loss shown by the combined entity’s financial statements:
– sales revenue;
– other operating revenues;
– extraordinary items; and
– net profit or loss.
CAPITALISATION OF BORROWING COSTS
125. IAS 23.9 If the entity applies the benchmark treatment under which borrowing costs are
expensed as incurred, does it disclose the accounting policy adopted for
borrowing costs.
126. IAS 23.29 If the entity applies the allowed alternative treatment under which borrowing
costs are capitalised, does it disclose the following information:
a. the accounting policy adopted for borrowing costs;
b. the amount of borrowing costs capitalised during the period; and
c. the capitalisation rate used to determine the amount of borrowing costs
eligible for capitalisation.
DISCONTINUING OPERATIONS
IAS 35.2 A restructuring, transaction, or event that does not meet the definition of a
IAS 35.43 discontinuing operation, should not be called a discontinuing operation.
IAS 35.27 An initial disclosure event may occur after the end of the entity’s financial
IAS 35.29 reporting period, but before the financial statements for that period are approved
by the board of directors or similar governing body. When this occurs, the
financial statements should also include the disclosures specified below for the
period covered by those financial statements.
IAS 35.38 The disclosures required on discontinued operations should be presented

separately for each discontinuing operation.
IAS 35.39 The disclosures required on discontinued operations may generally be presented
either in the notes to the financial statements or on the face of the financial
statements (exceptions to this rule are noted specifically).
127. IAS 35.27 Has the entity included the following information relating to a discontinuing
operation in its financial statements, beginning with the financial statements for
the period in which the initial disclosure event occurs (as described above the
initial disclosure event may occur after balance sheet date):
a. a description of the discontinuing operation;
E 25
IFRS Disclosure checklist 2004 Notes – Discontinuing operations
Disclosure made
Yes No N/A
b. the business or geographical segment(s) in which it is reported (in accordance

with IAS 14);
c. the date and nature of the initial disclosure event;
d. the date or period in which the discontinuance is expected to be completed,
if known or determinable;
e. the carrying amounts as at the balance sheet date of:
– the total assets to be disposed of;
– the total liabilities to be disposed of;
f. the following income statement amounts attributable to the discontinuing
operation during the current financial reporting period (the IASC encourages
these disclosures to be made on the face of the income statement):
– revenue;
– expenses;
– pre-tax profit or loss from ordinary activities;
– the tax expense relating to the gain or loss on discontinuance; and
– the tax expense relating to the profit or loss from the ordinary activities
of the discontinued operation for the period, together with the
corresponding amounts for each prior period presented.
g. the amounts of net cash flows of the discontinuing operation during the
current financial reporting period (the IASC encourages these disclosures to
be made on the face of the cash flow statement) attributable to:
– financing activities.
128. IAS 35.31 When the entity disposes of assets or settles liabilities attributable to a
discontinuing operation, or enters into binding agreements for the sale of such
assets or the settlement of such liabilities, has it included in its financial
statements the following information when the events occur:
a. for any gain or loss that is recognised on the disposal of assets or settlement
of liabilities attributable to the discontinuing operation:
– the amount of the pre-tax gain or loss (this amount must be shown on
the face of the income statement);
– the tax expense relating to the gain or loss on discontinuance; and
– the tax expense relating to the profit or loss from the ordinary activities
of the discontinued operation for the period, together with the
corresponding amounts for each prior period presented.
b. of those net assets for which the entity has entered into one or more binding
sale agreements:
– the net selling price or range of prices (which is after deducting the
expected disposal costs)
– the expected timing of receipt of those cash flows; and
– the carrying amount of those net assets.
129. IAS 35.33 Has the entity disclosed in its financial statements, for periods subsequent to the
one in which the initial disclosure event occurs, a description of any significant
changes in:
a. the amount or timing of cash flows relating to the assets and liabilities to be
disposed of or settled; and
b. the events causing those changes.
130. IAS 35.35 Have the above disclosures been included in financial statements for periods up
to and including the period in which the discontinuance is completed (a
discontinuance is completed when the plan is substantially completed or
abandoned, though payments from the buyer(s) to the seller may not yet be
completed).
26 E
Notes – Employee benefits IFRS Disclosure checklist 2004
Disclosure made
Yes No N/A
131. IAS 35.36 If the entity abandons or withdraws from a plan that was previously reported as
a discontinuing operation, does the entity disclose:
a. that it abandons or withdraws from a plan that was previously reported as a
discontinuing operation;
b. the effect of the abandonment or withdrawal from that plan; and
IAS 35.37 c. the effect of the reversal of any prior impairment loss or provision that was
recognised with respect to the discontinuing operation.
132. IAS 35.41 Does the entity present the gain or loss on discontinuing operations as profit or
loss from ordinary activities.
133. IAS 35.45 Has comparative information for prior periods, that is presented in financial
statements prepared after the initial disclosure event, been restated to segregate
continuing and discontinuing assets, liabilities, income, expenses, and cash flows
in a manner similar to that required by items 127. to 132.
EMPLOYEE BENEFITS
134. IAS 19.159 If earlier adoption of IAS 19 (revised 2000) affects the financial statements, has
this fact been disclosed.
Short‐term employee benefits
IAS 19.23 Although IAS 19 does not require specific disclosures about short-term employee
benefits, other International Accounting Standards may require disclosures. For
example, when required by IAS 24 Related Party Disclosures, the entity discloses
information about employee benefits for key management personnel. IAS 1
Presentation of Financial Statements requires that the entity should disclose staff costs.
Multi‐employer plans
IAS 19.29 If a multi-employer plan is a defined benefit plan and the entity has sufficient
information available to account for the plan as a defined benefit plan then the
disclosures for defined benefit plans should be made accordingly.
135. IAS 19.30 When sufficient information is not available to use defined benefit accounting
for a multi-employer plan that is a defined benefit plan, does the entity disclose:
a. the fact that the plan is a defined benefit plan;
b. the reason why sufficient information is not available to enable the entity to
account for the plan as a defined benefit plan; and
c. to the extent that a surplus or deficit in the plan may affect the amount of
future contributions, disclose in addition:
– any available information about that surplus or deficit;
– the basis used to determine that surplus or deficit; and
– the implications, if any, for the entity.
Defined contribution plans
136. IAS 19.46 Does the entity disclose the amount recognised as an expense for defined
contribution plans.
137. IAS 19.47 Does the entity disclose contributions to defined contribution plans for key
management personnel when required by IAS 24 Related Party Disclosures.
Defined benefit plans
IAS 19.122 When the entity has more than one defined benefit plan, disclosures may be made
in total, separately for each plan, or in such grouping as are considered to be the
most useful.
E 27
IFRS Disclosure checklist 2004 Notes – Employee benefits
Disclosure made
Yes No N/A
138. IAS 19.120 Does the entity disclose the following information about defined benefit plans:
a. the entity’s accounting policy for recognising actuarial gains and losses;
b. a general description of the type of plan;
c. a reconciliation of the assets and liabilities recognised in the balance sheet,
showing at least:
– the present value at the balance sheet date of defined benefit obligations
that are wholly unfunded;
– the present value (before deducting the fair value of plan assets) at the
balance sheet date of defined benefit obligations that are wholly or partly
funded;
– the fair value of any plan assets at the balance sheet date;
– the net actuarial gains or losses not recognised in the balance sheet (for
guidance see IAS 19.92);
– the past service cost not yet recognised in the balance sheet (for
guidance see IAS 19.96);
– any amount not recognised as an asset, because of the limit in
IAS 19.58(b);
– the fair value at the balance sheet date of any reimbursement right
recognised as an asset (under IAS 19.104A) with a brief description of
the link between the reimbursement right and the related obligation; and
– the other amounts recognised in the balance sheet;
d. the amounts included in the fair value of plan assets for:
– each category of the reporting entity’s own financial instruments; and
– any property occupied by, or other assets used by, the reporting entity;
e. a reconciliation showing the movements during the period in the net liability
(or asset) recognised in the balance sheet;
f. the total expense recognised in the income statement for each of the following,
and the line item(s) of the income statement in which they are included:
– current service cost;
– interest cost;
– expected return on plan assets;
– expected return on any reimbursement right recognised as an asset
(under IAS 19.104A);
– actuarial gains and losses;
– past service cost; and
– the effect of any curtailment or settlement;
g. the actual return on plan assets, as well as the actual return on any
reimbursement right unrecognised as an asset (under IAS 19.104A); and
h. the principal actuarial assumptions (expressed in absolute terms and not just
as a margin between different percentages or other variables) used as at the
balance sheet date, including, where applicable:
– the discount rates;
– the expected rates of return on any plan assets for the periods presented
in the financial statements;
– the expected rates of return for the periods presented in the financial
statements on any reimbursement right recognised as an asset (under
IAS 19.104A);
– the expected rates of salary increases (and of changes in an index or
other variable specified in the formal or constructive terms of a plan as
the basis for future benefit increases);
– medical cost trend rates; and
– any other material actuarial assumptions used.
28 E
Notes – Employee benefits IFRS Disclosure checklist 2004
Disclosure made
Yes No N/A
139. IAS 19.122 When the entity provides disclosures in total for a grouping of defined benefit
plans, are such disclosures provided in the form of weighted averages or of
relatively narrow ranges.
140. IAS 19.124 Does the entity disclose the following information when required by IAS 24
Related Party Disclosures:
a. related party transactions with post-employment benefit plans; and
b. post-employment benefits for key management personnel.
141. IAS 19.125 When required by IAS 37 Provisions, Contingent Liabilities and Contingent Assets, does
the entity disclose information about contingent liabilities arising from post-
employment benefit obligations.
Other long‐term employee benefits
IAS 19.131 Although IAS 19 does not require specific disclosures about other long-term
employee benefits, other International Accounting Standards may require
disclosures, for example where the expense resulting from such benefits is of such
size, nature or incidence that its disclosure is relevant to explain the performance
of the entity for the period (see IAS 8 Net Profit or Loss for the Period, Fundamental
Errors and Changes in Accounting Policies). Where required by IAS 24 Related Party
Disclosures, the entity discloses information about other long-term employee
benefits for key management personnel.
Termination benefits
142. IAS 19.141 There may be uncertainty about the number of employees who will accept an
offer of termination benefits, a contingent liability exists. Does the entity
disclose, as required by IAS 37 Provisions, Contingent Liabilities and Contingent Assets,
information about the contingent liability unless the possibility of an outflow in
settlement is remote.
143. IAS 19.142 Does the entity disclose, as required by IAS 8 Net Profit or Loss for the Period,
Fundamental Errors and Changes in Accounting Policies, the nature and amount of
termination benefits of such size, nature or incidence that its disclosure is
relevant to explain the performance of the entity for the period.
144. IAS 19.143 When required by IAS 24 Related Party Disclosures, does the entity disclose
information about termination benefits for key management personnel.
Equity compensation benefits
145. IAS 19.147 Has the following information been disclosed in the financial statements:
a. the nature and terms (including any vesting provisions) of equity
compensation plans;
b. the accounting policy for equity compensation plans;
c. the amounts recognised in the financial statements for equity compensation
plans;
d. the following information about the entity‘s own equity financial instruments
that are held by equity compensation plans or held by employees, at the
beginning and end of the period:
– number;
– terms, including when applicable:
– dividend rights;
– voting rights;
– conversion rights;
– exercise dates;
– exercise prices; and
– expiry dates;
E 29
IFRS Disclosure checklist 2004 Notes – Employee benefits
Disclosure made
Yes No N/A
– the extent to which employees’ entitlements to those instruments are

vested;
e. the following information on the entity‘s own equity financial instruments
which were issued to equity compensation plans or to employees (or of the
entity’s own equity financial instruments distributed by equity compensation,
during the period:
– number;
– terms, including when applicable:
– dividend rights;
– voting rights;
– conversion rights;
– exercise dates;
– exercise prices; and
– expiry dates;
– the fair value of any consideration received from the equity
compensation plans or the employees;
f. for share options exercised under equity compensation plans during the
period:
– the number of shares;
– the exercise dates; and
– the exercise prices;
g. the number of share options held by equity compensation plans, or held by
employees under such plans, that lapsed during the period; and
h. for any loans or guarantees granted by the reporting entity to, or on behalf
of, equity compensation plans:
– the amount; and
– the principal terms.
146. IAS 19.148 Has the following information been disclosed:
a. the fair value, at the beginning and end of the period, of the entity’s own
equity financial instruments (other than share options) held by equity
compensation plans;
b. the fair value, at the date of issue, of the entity’s own equity financial
instruments (other than share options) issued by the entity to equity
compensation plans or to employees, or by equity compensation plans to
employees, during the period; and
c. if it is not practicable to determine the fair value of the equity financial
instruments (other than share options), that fact.
147. IAS 19.149 When the entity provides disclosures in total for a grouping of equity
compensation plans, are such disclosures provided in the form of weighted
averages or of relatively narrow ranges.
148. IAS 19.151 Does the entity disclose the following information when required by IAS 24
Related Party Disclosures:
a. equity compensation benefits provided to key management personnel;
b. equity compensation benefits in the form of instruments issued by the
entity’s parent; and
c. related party transactions with equity compensation plans.
30 E
Notes – Events after the balance sheet date IFRS Disclosure checklist 2004
Disclosure made
Yes No N/A
EVENTS AFTER THE BALANCE SHEET DATE
149. IAS 10.18 Have the disclosures in the financial statements been updated to reflect
information that has become available after the balance sheet date but which
relates to conditions that existed at the balance sheet date.
150. IAS 10.20 Where non-adjusting events after the balance sheet date are of such importance
that non-disclosure would affect the ability of the users of the financial
statements to make proper evaluations and decisions, does the entity disclose the
following information for each significant category of non-adjusting event after
balance sheet date (IAS 10.21 provides examples of such events):
a. the nature of the event; and
b. an estimate of its financial effect, or a statement that such an estimate cannot
be made.
IAS 33 Earnings Per Share requires restatement of certain information, although
this would not normally be required by IAS 10.
FINANCIAL INSTRUMENTS
IAS 32.1 IAS 32 Financial Instruments: Disclosure and Presentation should be applied in
presenting and disclosing information about all types of financial instruments,
both recognised and unrecognised, other than:
a. interests in subsidiaries, as defined in IAS 27 Consolidated Financial Statements
and Accounting for Investments in Subsidiaries;
b. interests in associates, as defined in IAS 28 Accounting for Investments in
Associates;
c. interests in joint ventures, as defined in IAS 31 Financial Reporting of Interests
in Joint Ventures;
d. employers’ and plans’ obligations for post-employment benefits of all types,
including retirement benefits as described in IAS 19 Retirement Benefit Costs
and IAS 26 Accounting and Reporting by Retirement Benefit Plans;
e. employers’ obligations under employee stock option and stock purchase
plans; and
f. obligations arising under insurance contracts.
E 31
IFRS Disclosure checklist 2004 Notes – Financial instruments
Disclosure made
Yes No N/A
IAS 39.1 There is an important difference in scope between IAS 39 Financial Instruments:
Disclosure and Presentation and IAS 32 that should be taken into account when
completing this checklist. IAS 39 excludes the following items from its scope:
a. all items excluded from the scope of IAS 32 (see above);
b. rights and obligations under leases, to which IAS 17 Leases, applies;
however:
– lease receivables recognised on a lessor's balance sheet are subject to the
derecognition provisions of IAS 39 paragraphs 35-65 and .170(d)); and
– this Standard does apply to derivatives that are embedded in leases
(IAS 39 paragraphs 22-26);
c. equity instruments issued by the reporting entity including options,
warrants, and other financial instruments that are classified as shareholders'
equity of the reporting entity;
d. financial guarantee contracts, including letters of credit, that provide for
payments to be made if the debtor fails to make payment when due.
Financial guarantee contracts are subject to IAS 39 if they provide for
payments to be made in response to changes in a specified interest rate,
security price, commodity price, credit rating, foreign exchange rate, index
of prices or rates, or other variable. Also, IAS 39 does require recognition
of financial guarantees incurred or retained as a result of the derecognition
standards set out in paragraphs 35-65;
e. contracts for contingent consideration in a business combination (IAS 22
Business Combinations paragraphs 65-76); and
f. contracts that require a payment based on climatic, geological, or other
physical variables, but IAS 39 does apply to other types of derivatives that
are embedded in such contracts.
IAS 32.3 If the entity has obligations under insurance contracts, it is encouraged to
considered the appropriateness of applying the provisions of IAS 32 in presenting
and disclosing information about such obligations.
Accounting policies
151. IAS 32.47 Does the entity describe for each class of financial asset, financial liability and
equity instrument, both recognised and unrecognised:
a. the accounting policies and methods adopted;
b. the criteria for recognition;
c. the basis of measurement applied;
IAS 32.54 d. the method of applying the basis of measurement (weighted average, FIFO
or LIFO);
IAS 39.167 e. the methods and significant assumptions applied in estimating fair values of
financial assets and financial liabilities that are carried at fair value, separately
for significant classes of financial assets (IAS 32.46 provides guidance on
determining classes of financial assets);
IAS 39.168 f. the following significant assumptions:
– prepayment rates;
– rates of estimated credit losses; and
– interest or discount rates;
IAS 32.54 g. for financial assets and financial liabilities carried at cost the accounting for:
– costs of acquisition or issuance;
– premiums and discounts on monetary financial assets and financial
liabilities;
– changes in the estimated amount of determinable future cash flows
associated with a monetary financial instrument (such as a bond indexed
to a commodity price);
32 E
Notes – Financial instruments IFRS Disclosure checklist 2004
Disclosure made
Yes No N/A
– changes in circumstances that result in significant uncertainty about the

timely collection of all contractual amounts due from monetary financial
assets;
– declines in the fair value of financial assets below their carrying amount;
and
– restructured financial liabilities;
IAS 32.54 h. for financial assets and financial liabilities carried at fair value:
– whether carrying amounts are determined from quoted market prices,
independent appraisals, discounted cash flow analysis or another
appropriate method; and
– any significant assumptions made in applying those methods;
IAS 39.167 i. whether gains and losses arising from changes in the fair value of those
available-for-sale financial assets that are measured at fair value subsequent to
initial recognition are included in net profit or loss for the period or are
recognised directly in equity until the financial asset is disposed of; and
j. for each category of financial assets (trading, held-to-maturity, available-for-
sale, and loans and receivables originated by the entity), whether ‘regular way’
purchases and sales of financial assets are accounted for at trade date or
settlement date;
IAS 32.52 k. the criteria applied in determining when to recognise a financial asset or
financial liability on the balance sheet and when to cease to recognise it;
l. the basis of measurement applied to financial assets and financial liabilities
both on initial recognition and subsequently; and
m. the basis on which income and expense arising from financial assets and
financial liabilities is recognised and measured.
152. IAS 32.55 Does the entity disclose the basis for reporting realised and unrealised gains and
losses, interest and other items of income and expense associated with financial
assets and financial liabilities in the income statement.
153. IAS 32.55 Does the entity disclose the basis on which income and expense arising from
financial instruments held for hedging purposes are recognised.
154. IAS 32.55 When an entity presents income and expense items on a net basis even though
the corresponding financial assets and financial liabilities on the balance sheet
have not been offset, does it disclose the reason for that presentation if the
effect is significant.
Financial assets and financial liabilities
155. IAS 39.170 Do the financial statements include all of the following disclosures relating to
financial instruments:
a. if a gain or loss from remeasuring available-for-sale financial assets to fair
value (other than assets relating to hedges) has been recognised directly in
equity, through the statement of changes in equity:
– the amount that was so recognised in equity during the current period;
and
– the amount that was removed from equity and reported in net profit or
loss for the period;
b. if the presumption that fair value can be reliably measured for all financial
assets that are available for sale or held for trading has been overcome (see
IAS 39.70 for guidance) and the entity is measuring any such financial assets
at amortised cost:
– the fact that fair value cannot be reliably measured and that financial
assets are carried at amortised cost;
– a description of these financial assets;
– the carrying amount of these financial assets;
– an explanation of why fair value cannot be reliably measured; and
E 33
Disclosure made
Yes No N/A
– if possible, the range of estimates within which fair value is highly likely
to lie;
c. if financial assets whose fair value previously could not be measured reliably
are sold:
– the fact that these financial assets have been sold;
– the carrying amount of such financial assets at the time of sale; and
– the amount of gain or loss recognised;
d. significant items of income, expense, gains and losses resulting from financial
assets and financial liabilities, whether included in net profit or loss or as a
separate component of equity. For this purpose:
– are total interest income and total interest expense (both on a historical
cost basis) have to be disclosed separately;
– with respect to available-for-sale financial assets that are adjusted to fair
value after initial acquisition, total gains and losses from derecognition of
such financial assets included in net profit or loss for the period have to
be reported separately from total gains and losses from fair value
adjustments of recognised assets and liabilities included in net profit or
loss for the period; and
– the amount of interest income that has been accrued on impaired loans
(which have to be recognised based on the rate of interest that was used
to discount the future cash flows for the purpose of measuring the
recoverable amount) and that has not yet been received in cash.
156. IAS 39.170 If the entity has reclassified a financial asset as one required to be reported at
amortised cost rather than at fair value (in accordance with IAS 39.92), has the
reason for that reclassification been disclosed.
157. IAS 39.170 Has the entity disclosed, separately for each significant class of financial asset, in
respect of impairment losses (or reversal of impairment losses) recognised for a
financial asset, the following:
a. nature of the impairment loss or reversal of impairment loss; and
b. amount of any impairment loss or reversal.
158. IAS 39.170 Does the entity as a borrower disclose:
IAS 32.47 a. the carrying amount of financial assets pledged as collateral for liabilities;
IAS 32.49 and
b. any significant terms and conditions relating to pledged assets.
159. IAS 39.170 Does the entity as a lender disclose:
IAS 32.47 a. the fair value of collateral (both financial and non-financial assets) that it has
IAS 32.49 accepted and that it is permitted to sell or repledge in the absence of default;
b. the fair value of collateral that it has sold or repledged; and
c. any significant terms and conditions associated with its use of collateral.
Securitisation
160. IAS 39.170 If the entity has entered into a securitisation or repurchase agreement; has the
following information been disclosed, separately for such transactions occurring
in the current financial reporting period and for remaining retained interests
from transactions occurring in prior financial reporting periods:
a. the nature and extent of such transactions;
b. a description of any collateral;
c. quantitative information about the key assumptions used in calculating the
fair values of new and retained interests; and
d. whether the financial assets have been derecognised.
34 E
Disclosure made
Yes No N/A
Terms and conditions
IAS 32.46 When amounts disclosed in notes or supplementary schedules relate to recognised
assets and liabilities, sufficient information should be provided to permit a
reconciliation to relevant line items on the balance sheet.
161. IAS 32.47 Does the entity disclose for each class of financial asset, financial liability and
equity instrument, both recognised and unrecognised:
a. information about the extent and nature of the financial instruments; and
b. for financial instruments held or issued by the entity that (either individually
or as a class) have significant terms and conditions that may affect the
amount, timing and certainty of future cash flows (i.e. they create a potential
significant exposure to price risk, credit risk, liquidity risk and/or cash flow
risk), such as:
IAS 32.49 i. the principal, stated, face or other similar amount which, for some
derivative instruments, such as interest rate swaps, may be the amount
(referred to as the notional amount) on which future payments are
based;
ii. the date of maturity, expiry or execution;
iii. early settlement options held by either party to the instrument, including
the period in which, or date at which, the options may be exercised and
the exercise price or range of prices;
iv. options held by either party to the instrument to convert the instrument
into, or exchange it for, another financial instrument or some other asset
or liability, including the period in which, or date at which, the options
may be exercised and the conversion or exchange ratio(s);
v. the amount and timing of scheduled future cash receipts or payments of
the principal amount of the instrument, including instalment repayments
and any sinking fund or similar requirements;
vi. stated rate or amount of interest, dividend or other periodic return on
principal and the timing of payments;
vii. collateral held, in the case of a financial asset, or pledged, in the case of a
financial liability;
viii. in the case of an instrument for which cash flows are denominated in a
currency other than the entity’s reporting currency, the currency in
which receipts or payments are required;
ix. in the case of an instrument that provides for an exchange, information
described in items i. to viii. for the instrument to be acquired in the
exchange; and
x. any condition of the instrument or an associated covenant that, if
contravened, would significantly alter any of the other terms (for
example, a maximum debt-to-equity ratio in a bond covenant that, if
contravened, would make the full principal amount of the bond due and
payable immediately).
162. IAS 32.50 When the balance sheet presentation of a financial instrument differs from the instrument’s legal
form, does the entity explain in the notes to the financial statements the nature of the
instrument.
163. IAS 32.51 The usefulness of information about the extent and nature of financial
instruments is enhanced when the entity highlights any relationships between
individual instruments that may affect the amount, timing or certainty of the
future cash flows of an entity. Where it is not apparent the entity should disclose
for example:
a. hedging relationships such as might exist when an entity holds an investment
in shares for which it has purchased a put option; and
E 35
Disclosure made
Yes No N/A
b. relationships between the components of "synthetic instruments" such as

fixed rate debt created by borrowing at a floating rate and entering into a
floating to fixed interest rate swap.
Risk management policies
164. IAS 32.43A Does the entity describe the following in its financial statements:
a. its financial risk management objectives and policies; and
b. its policy for hedging each major type of forecasted transaction for which
hedge accounting is used.
165. IAS 32.42 Does the entity disclose a discussion of:
a. the extent of the entity’s use of financial instruments;
b. the risks associated with these financial instruments;
c. the business purposes that these financial instruments serve; and
d. management’s policies for controlling the risks associated with the financial instruments,
including:
– policies on matters such as hedging of risk exposures;
– avoidance of undue concentrations of risk; and
– policies on matters such as hedging of risk exposures.
36 E
Disclosure made
Yes No N/A
Interest rate risk
IAS 32.64 When an entity has a significant number of financial instruments exposed to
interest rate price or cash flow risks, it may adopt one or more of the following
approaches to presenting information:
– The carrying amounts of financial instruments exposed to interest rate price
risk may be presented in tabular form, grouped by those that are contracted
to mature or be repriced:
(i) within one year of the balance sheet date;
(ii) more than one year and less than five years from the balance sheet
date; and
(iii) five years or more from the balance sheet date;
– When the performance of an entity is significantly affected by the level of
its exposure to interest rate price risk or changes in that exposure, more
detailed information is desirable. An entity may disclose, for example,
separate groupings of the carrying amounts of financial instruments
contracted to mature or be repriced:
(i) within one month of the balance sheet date;
(ii) more than one and less than three months from the balance sheet
date; and
(iii) more than three and less than twelve months from the balance sheet
date;
– Similarly, an entity may indicate its exposure to interest rate cash flow risk
through a table indicating the aggregate carrying amount of groups of
floating rate financial assets and financial liabilities maturing within various
future time periods; and
– Interest rate information may be disclosed for individual financial
instruments or weighted average rates or a range of rates may be presented
for each class of financial instrument. An entity groups instruments
denominated in different currencies or having substantially different credit
risks into separate classes when these factors result in instruments having
substantially different effective interest rates.
166. IAS 32.56 Does the entity disclose for each class of financial asset and financial liability,
both recognised and unrecognised, information about its exposure to interest
rate risk, including:
a. contractual repricing or maturity dates, whichever dates are earlier; and
b. effective interest rates, when applicable.
IAS 32.61 The effective interest rate (effective yield) of a monetary financial instrument is
IAS 32.62 the rate that, when used in a present value calculation, results in the carrying
amount of the instrument. The effective interest rate is sometimes termed the
level yield to maturity or to the next repricing date, and is the internal rate of
return of the instrument for that period.
The requirement to disclose the “effective interest rates” applies to bonds, notes
and similar monetary financial instruments involving future payments that create a
return to the holder and a cost to the issuer reflecting the time value of money.
The requirement does not apply to financial instruments such as non-monetary
and derivative instruments that do not bear a determinable effective interest rate.
However, when providing effective interest rate information, an enterprise
discloses the effect on its interest rate risk exposure of hedging or "conversion"
transactions such as interest rate swaps.
167. IAS 32.59 Does the entity disclose the expected repricing or maturity dates, when they differ significantly
from the contractual dates, information about:
a. the fact that the additional information is based on management's expectations of future
events;
b. the assumptions made about repricing or maturity dates; and
c. how those assumptions differ from the contractual dates.
E 37
Disclosure made
Yes No N/A
168. IAS 32.60 Does the entity indicate which of its financial assets and financial liabilities are:
a. exposed to interest rate price risk, such as monetary financial assets and
financial liabilities with a fixed interest rate;
b. exposed to interest rate cash flow risk, such as monetary financial assets and
financial liabilities with a floating interest rate that is reset as market rates
change; and
c. not exposed to interest rate risk, such as some investments in equity
securities.
169. IAS 32.63 An entity may retain an exposure to the interest rate risks associated with
financial assets removed from its balance sheet as a result of a transaction (such
as a securitisation) or it may become exposed to interest rate risks as a result of a
transaction in which no financial asset or financial liability is recognised on its
balance sheet (such as a commitment to lend funds at a fixed interest rate).
Does the entity, in such circumstances, disclose:
a. information that will permit financial statement users to understand the
nature and extent of its exposure;
b. in the case of a securitisation or similar transfer of financial assets, the following
information:
– the nature of the assets transferred;
– their stated principal;
– interest rate;
– term to maturity; and
– the terms of the transaction giving rise to the retained exposure to interest rate risk;
c. in the case of a commitment to lend funds, the following information:
– the stated principal;
– interest rate;
– term to maturity of the amount to be lent; and
– the significant terms of the transaction giving rise to the exposure to risk.
170. IAS 32.65 When the entity discloses interest rate sensitivity information, does it disclose the
basis on which it has prepared the information (including any significant
assumptions).
IAS 32.65 An entity may be able to provide useful information about its exposure to interest
rate risks by indicating the effect of a hypothetical change in the prevailing level of
market interest rates on the fair value of its financial instruments and future earnings
and cash flows. The reported interest rate sensitivity may be restricted to the direct
effects of an interest rate change on interest-bearing financial instruments on hand at
the balance sheet date since the indirect effects of a rate change on financial markets
and individual enterprises cannot normally be predicted reliably.
Credit risk
171. IAS 32.66 Does the entity disclose for each class of financial asset, both recognised and
unrecognised, information about its exposure to credit risk, including:
a. the amount that best represents its maximum credit risk exposure at the
balance sheet date, without taking account of the fair value of any collateral,
in the event other parties fail to perform their obligations under financial
instruments; and
b. significant concentrations of credit risk.
IAS 32.69 An entity's maximum potential loss from some recognised financial assets may
IAS 32.72 differ significantly from their carrying amount and from other disclosed amounts
such as their fair value or principal amount. In such circumstances, additional
disclosure is necessary to meet the requirements of item 171.a.
38 E
Disclosure made
Yes No N/A
IAS 32.67 Guaranteeing an obligation of another party exposes the entity (as a guarantor) to
IAS 32. 73 credit risk and should be taken into account in making the above disclosures.
However, the entity does not need to disclose an assessment of the probability of
losses arising in the future.
172. IAS 32.70 When a financial asset subject to a legally enforceable right of set-off against a
financial liability is presented on the balance sheet net of the liability because
settlement is intended to take place on a net basis or simultaneously, does the
entity disclose the existence of the legal right of set-off.
173. IAS 32.71 When a master netting arrangement significantly reduces the credit risk
associated with financial assets not offset against financial liabilities with the
same counterparty, does the entity provide disclosures on the effect of the
arrangement that indicate:
a. the credit risk associated with financial assets subject to a master netting
arrangement is eliminated only to the extent that financial liabilities due to
the same counterparty will be settled after the assets are realised;
b. the extent to which the entity's overall exposure to credit risk is reduced
through a master netting arrangement may change substantially within a
short period following the balance sheet date because the exposure is
affected by each transaction subject to the arrangement; and
c. the terms of its master netting arrangements that determine the extent of the reduction in its
credit risk.
174. IAS 32.73 If the entity is obligated under recourse provisions of a transaction (for example
a securitisation) to indemnify the purchaser of the assets for credit losses, does it
disclose:
a. the nature of the assets removed from its balance sheet;
b. the amount and timing of the future cash flows contractually due from the
assets;
c. the terms of the recourse obligation; and
d. the maximum loss that could arise under that obligation.
175. IAS 32.74 Have concentrations of credit risk been disclosed when they are not apparent from
other disclosures about the nature and financial position of the business and they
result in a significant exposure to loss in the event of default by other parties.
176. IAS 32.76 Does the disclosure of concentrations of credit risk include:
a. a description of the shared characteristic that identifies each concentration; and
b. the amount of the maximum credit risk exposure associated with all
recognised and unrecognised financial assets sharing that characteristic
IAS 32.75 Concentrations of credit risk may arise from exposures to a single debtor or to
groups of debtors having a similar characteristic such that their ability to meet
their obligations is expected to be affected similarly by changes in economic or
other conditions. Characteristics that may give rise to a concentration of risk
include the nature of the activities undertaken by debtors, such as:
– the industry in which they operate;
– the geographic area in which activities are undertaken; and
– the level of creditworthiness of groups of borrowers.
E 39
Disclosure made
Yes No N/A
Fair value
IAS 32.87 Fair value information relating to classes of financial assets or financial liabilities
that are carried on the balance sheet at other than fair value is provided in a way
that permits comparison between the carrying amount and the fair value.
Accordingly, the fair values of recognised financial assets and financial liabilities
are grouped into classes and offset only to the extent that their related carrying
amounts are offset. Fair values of unrecognised financial assets and financial
liabilities are presented in a class or classes separate from recognised items and are
offset only to the extent that they meet the offsetting criteria for recognised
financial assets and financial liabilities.
177. IAS 32.77 Does the entity disclose for each class of financial asset and financial liability,
IAS 39.166 both recognised and unrecognised, information about fair value (except for
financial assets and financial liabilities that are carried at fair value).
IAS 32.84 When an instrument is not traded in an organised financial market, it may not be
appropriate for the entity to determine and disclose a single amount that
represents an estimate of fair value. Instead, it may be more useful to disclose a
range of amounts within which the fair value of a financial instrument is
reasonably believed to lie.
178. IAS 32.77 When it is not practicable within constraints of timeliness or cost to determine
IAS 39.166 the fair value of a financial asset or financial liability with sufficient reliability, has
disclosure been made (except for financial assets and financial liabilities that are
carried at fair value) of:
a. the fact it is not practicable within constraints of timeliness or cost to
determine the fair value; and
b. information about the principal characteristics of the underlying financial
instrument that are pertinent to its fair value.
179. IAS 32.85 When disclosure of fair value information it omitted because it is not practicable
to determine fair value with sufficient reliability; does the entity disclose
information to assist users of the financial statements in making their own
judgements about the extent of possible differences between the carrying
amount of financial assets and financial liabilities and their fair value, such as:
a. an explanation of the reason for the omission;
b. the principal characteristics of the financial instruments that are pertinent to
their value;
c. information about the market for the instruments; and
d. when management has a reasonable basis for doing so, an indication of its
opinion as to the relationship between fair value and the carrying amount.
180. IAS 32.79 Does the entity disclose the method adopted and any significant assumptions
made in determining fair values.
Financial assets carried at an amount in excess of fair value
181. IAS 32.88 When the entity carries one or more financial assets at an amount in excess of
IAS 39.166 their fair value, does the entity disclose (except for financial assets and financial
liabilities that are carried at fair value):
a. the carrying amount and the fair value of either the individual assets or
appropriate groupings of those individual assets;
b. the reasons for not reducing the carrying amount; and
c. the nature of the evidence that provides the basis for management’s belief
that the carrying amount will be recovered.
IAS 32.89 When appropriate, the above disclosures should be grouped in a manner that
reflects management's reasons for not reducing the carrying amount.
40 E
Disclosure made
Yes No N/A
Hedges
182. IAS 39.169 Do the financial statements include all of the following disclosures relating to
hedging:
a. a description of the entity’s financial risk management objectives and policies
including a description of the entity’s policy for hedging each major type of
forecasted transaction (IAS 39.142(a) for additional guidance);
In the case of hedges of risks relating to future sales, the description should
indicate the nature of the risks being hedged, approximately how many months or
years of expected future sales have been hedged, and the approximate percentage
of sales in those future months or years.
b. for designated fair value hedges:

– a description of the hedge;
– a description of the financial instruments designated as hedging
instruments for the hedge and their fair values at the balance sheet date;
and
– the nature of the risks being hedged;
c. for designated cash flow hedges:
– the nature of the risks being hedged;
– the periods in which the hedged forecasted transactions are expected to
occur;
– when the hedged forecasted transactions are expected to enter into the
determination of net profit or loss;
– a description of any forecasted transaction for which hedge accounting
had previously been used but that is no longer expected to occur;
– if a gain or loss on derivative and non-derivative financial assets and
liabilities designated as hedging instruments in cash flow hedges has
been recognised directly in equity, through the statement of changes in
equity, disclose:
– the amount that was so recognised in equity during the current
period;
– the amount that was removed from equity and reported in net profit
or loss for the period; and
– the amount that was removed from equity and added to the initial
measurement of the acquisition cost or other carrying amount of the
asset or liability in a hedged forecasted transaction during the current
period; and
d. for designated hedges of a net investment in a foreign entity:
and
– the nature of the risks being hedged.
Other disclosures
183. IAS 32.94 Additional disclosures are encouraged when they are likely to enhance financial statement users’
understanding of financial instruments. If it is desirable to disclose such information, does the
entity disclose the following:
a. the total amount of the change in the fair value of financial assets and financial liabilities that
has been recognised as income or expense for the period;
E 41
IFRS Disclosure checklist 2004 Notes – Foreign currency translation
Disclosure made
Yes No N/A
b. the average aggregate carrying amount during the year of recognised financial assets and
financial liabilities;
c. the average aggregate principal, stated, notional or other similar amount during the year of
unrecognised financial assets and financial liabilities; and
d. the average aggregate fair value during the year of all financial assets and financial
liabilities, particularly when the amounts on hand at the balance sheet date are
unrepresentative of amounts on hand during the year.
FOREIGN CURRENCY TRANSLATION
a. the amount of exchange differences included in the net profit or loss for the
period;
b. net exchange differences classified as a separate component of equity, and a
reconciliation of the amount of such exchange differences at the beginning
and end of the period; and
IAS 21.21 c. the amount of exchange differences arising during the period, which is
SIC-11.4 included in the carrying amount of an asset in accordance with the IAS 21
allowed alternative treatment for currency losses that result from a severe
devaluation or depreciation of a currency against which there is not practical
means of hedging.
185. IAS 21.43 If the reporting currency is different from the currency of the country in which the
entity is domiciled, has the reason for using a different currency been disclosed.
186. IAS 21.43 Has the reason for a change, if any, in the reporting currency been disclosed.
187. IAS 21.44 If there is a change in the classification of a significant foreign operation, has the
entity disclosed:
a. the nature of the change in classification;
b. the reason for the change;
c. the impact of the change in classification on shareholders’ equity; and
d. the impact on net profit or loss for each prior period presented had the change
in classification occurred at the beginning of the earliest period presented.
188. IAS 21.45 Does the entity disclose whether it treats goodwill and fair value adjustments
arising on the acquisition of a foreign entity as:
i. non-monetary items which are carried in terms of historical cost
denominated in a foreign currency that are reported using the exchange rate
at the date of the transaction; or
ii. assets or liabilities of the foreign entity that are translated at the closing rate;
189. IAS 21.46 When a change in exchange rates after the balance sheet date is of such
importance that non-disclosure would affect the ability of users of the financial
statements to make proper evaluations and decisions, does the entity disclose:
a. the effect on foreign currency monetary items; and
b. the effect on the financial statements of a foreign operation.
190. IAS 21.47 Has the entity disclosed its foreign currency risk management policy.
Measurement and presentation currency
191. SIC-19.10 Has the entity disclosed the following:

a. when the measurement currency is different from the currency of the
country in which the entity is domiciled, the reason for using a different
currency;
b. the reason for any change in the measurement currency or presentation
currency; and
42 E
Notes – Fourth quarter information IFRS Disclosure checklist 2004
Disclosure made
Yes No N/A
c. when the financial statements are presented in a currency different from the
entity’s measurement currency:
– the measurement currency;
– the reason for using a different presentation currency; and
– a description of the method used in the translation process.
192. SIC-30.8 When financial statements are presented in a currency other than the
measurement currency determined under SIC-19, does the entity state the fact
that the measurement currency reflects the economic substance of the
underlying events and circumstances of the enterprise.
193. SIC-30.9 When (1) financial statements are presented in a currency other than the
measurement currency determined under SIC-19 and (2) the measurement
currency is the currency of a hyperinflationary economy, does the entity disclose
the closing exchange rates between the measurement currency and the
presentation currency existing at the date of each balance sheet presented.
194. SIC-30.10 When additional information that is not required by International Accounting
Standards is displayed in financial statements in a currency other than the one
used in presenting the financial statements, does the entity:
a. clearly identify the information as supplementary information to distinguish
it from the information required by International Accounting Standards and
translated in accordance with SIC-30.6 and 7;
b. disclose the measurement currency used to prepare the financial statements
and the method of translation used to determine the supplementary
information displayed;
c. disclose the fact that the measurement currency reflects the economic
substance of the underlying events and circumstances of the entity and that
the supplementary information is displayed in another currency for
convenience purposes only, and
d. disclose the currency in which the supplementary information is displayed.
FOURTH QUARTER INFORMATION
195. IAS 34.26 If an estimate of an amount reported in an interim period is changed

significantly during the final interim period of the financial year but a separate
financial report is not published for that final interim period, has the following
information been disclosed in a note to the annual financial statements for that
financial year:
a. the nature of that change in estimate; and
b. the amount of that change in estimate.
FUNDAMENTAL ERRORS
IAS 8.34 IAS 8 provides a benchmark treatment and an allowed alternative treatment in
IAS 8.38 accounting for fundamental errors. The disclosure requirements differ depending
on whether the entity applies the benchmark treatment (which requires any
adjustment to be reported as an adjustment to the opening equity) or the allowed
alternative method (which requires any adjustment to be included in the
determination of the net profit or loss for the year). However, one treatment or
the other must be consistently applied.
Benchmark treatment
196. IAS 8.34 Has the amount of the correction of the fundamental error that relates to prior
periods been reported by adjusting the opening balance of retained earnings.
197. IAS 8.34 Has the comparative information been restated (unless it is impracticable to do so).
a. the nature of the fundamental error;
E 43
IFRS Disclosure checklist 2004 Notes – Government grants
Disclosure made
Yes No N/A
b. the amount of the correction for the current period and for each prior period
presented;
c. the amount of the correction relating to periods prior to those included in
the comparative information; and
d. the fact that comparative information has been restated, or that it is
impracticable to do so.
Allowed alternative treatment
199. IAS 8.38 Has the amount of the correction of the fundamental error been included in the
determination of net profit for the current period.
200. IAS 8.38 Does the entity present pro forma restated comparative information (unless it is
impracticable to do so).
a. the nature of the fundamental error;
b. the amount of the correction recognised in net profit or loss for the current
period;
c. the amount of the correction included in each period for which pro forma
information is presented;
d. the amount of the correction relating to periods prior to those included in
the pro forma information; and
e. if it is impracticable to present pro forma information, has this fact been
disclosed.
GOVERNMENT GRANTS
202. IAS 20.39 Has the following information on government grants been disclosed:
a. the accounting policy adopted for government grants;
a. the methods of presentation adopted in the financial statements;
c. the nature and extent of government grants recognised in the financial
statements;
d. an indication of other forms of government assistance from which the entity
has directly benefited; and
e. any unfulfilled conditions and other contingencies attaching to government
assistance that has been recognised.
HYPERINFLATION
IAS 29.1 IAS 29 Hyperinflation should be applied to the primary financial statements,
including the consolidated financial statements, of any enterprise that reports in
the currency of a hyperinflationary economy.
203. IAS 29.39 Have the following disclosures been made:

a. the fact that the financial statements and the corresponding figures for
previous periods have been restated for the changes in the general
purchasing power of the reporting currency and, as a result, are stated in
terms of the measuring unit current at the balance sheet date;
b. whether the financial statements are based on a historical cost approach or a
current cost approach; and
c. the identity and level of the price index at the balance sheet date and the
movement in the index during the current and the previous reporting period.
204. IAS 29.9 Has the gain or loss on the net monetary position (which results from the
application of IAS 29.27-28) been disclosed separately.
44 E
Notes – Impairment of assets IFRS Disclosure checklist 2004
Disclosure made
Yes No N/A
IMPAIRMENT OF ASSETS
In respect of goodwill and intangible assets acquired in business combinations,

the IAS 36 (1998) Impairment of Assets disclosures shown below apply only if the
business combination agreement date is prior to 31 March 2004.
For goodwill and intangible assets acquired in business combinations for which
the agreement date is on or after 31 March 2004, the entity shall apply IAS 36
(Revised) Impairment of Assets and the disclosures shown in the section ‘Business
Combinations accounted under IFRS 3 on p 68 apply, reference to these
disclosures are distinguished by an (R) subsequent to the IFRS 3 paragraph
reference.
disclosures shown in the section ‘Business Combinations accounted under IFRS 3
on p 68 apply, reference to these disclosures are distinguished by an (R)
subsequent to the IFRS 3 paragraph reference.
205. IAS 36.113 Has the following information been disclosed for each class of assets in the
financial statements:
a. the amount of impairment losses recognised in the income statement during
the period and the line item(s) of the income statement in which those
impairment losses are included;
b. the amount of reversals of impairment losses recognised in the income
statement during the period and the line item(s) of the income statement in
which those impairment losses are reversed;
c. the amount of impairment losses recognised directly in equity during the
period; and
d. the amount of reversals of impairment losses recognised directly in equity
during the period.
206. IAS 36.116 If the entity applies IAS 14 Segment Reporting does it disclose the following for each
reportable segment based on an entity’s primary format (as defined in IAS 14):
a. the amount of impairment losses recognised in the income statement and
directly in equity during the period; and
b. the amount of reversals of impairment losses recognised in the income
statement and directly in equity during the period.
207. IAS 36.117 If an impairment loss for an individual asset or a cash-generating unit is
recognised or reversed during the period and is material to the financial
statements of the reporting entity as a whole, does the entity 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:
– the nature of the asset; and
– the reportable segment to which the asset belongs, based on the entity’s
primary format (as defined in IAS 14, if the entity applies IAS 14);
d. for a cash-generating unit:
– a description of the cash-generating unit (such as whether it is a product
line, a plant, a business operation, a geographical area, a reportable
segment as defined in IAS 14 or other);
– the amount of the impairment loss recognised or reversed by class of
assets and by reportable segment based on the entity’s primary format
(as defined in IAS 14, if the entity applies IAS 14); and
E 45
IFRS Disclosure checklist 2004 Notes – Information reflecting the effects of changing prices
Disclosure made
Yes No N/A
– if the aggregation of assets for identifying the cash-generating unit has

changed since the previous estimate of the cash-generating unit’s
recoverable amount, the entity should describe the current and former
way of aggregating assets and the reasons for changing the way the cash-
generating unit is identified;
e. whether the recoverable amount of the asset (cash-generating unit) is its net
selling price or its value in use;
f. if recoverable amount is net selling price, the basis used to determine net
selling price (such as whether selling price was determined by reference to an
active market or in some other way); and
g. if recoverable amount is value in use, the discount rate(s) used in the current
estimate and previous estimate of value in use.
208. IAS 36.118 If impairment losses recognised (reversed) during the period are material in
aggregate to the financial statements of the reporting entity as a whole, does the
entity disclose a brief description of the following:
a. the main classes of assets affected by impairment losses (reversals of
impairment losses) for which no information is disclosed under IAS 36.117,
above; and
b. the main events and circumstances that led to the recognition (reversal) of
these impairment losses for which no information is disclosed under
IAS 36.117, above.
209. IAS 36.119 Does the entity disclose the key assumptions used to determine the recoverable amount of assets
(cash-generating units) during the period.
Transition
210. IAS 36.122 If the entity applies IAS 36 for financial statements covering periods beginning
before 1 July 1999, has that fact been disclosed.
INFORMATION REFLECTING THE EFFECTS OF CHANGING PRICES
The Board of the IASC has decided that entities need not disclose the
information required by IAS 15 for their financial statements to conform with
International Accounting Standards. However, the Board encourages entities to
present such information and urges those that do to disclose the items required
by IAS 15.
211. IAS 15.21 Has the following information been presented:

a. the amount of the adjustment to or the adjusted amount of depreciation of property, plant
and equipment;
b. the amount of the adjustment to or the adjusted amount of cost of sales;
c. the adjustments relating to monetary items, the effect of borrowing, or equity interests when
such adjustments have been taken into account in determining income under the accounting
method adopted; and
d. the overall effect on results of the adjustments described in a. and b. and, where appropriate,
c., as well as any other items reflecting the effects of changing prices that are reported under
the accounting method adopted.
212. IAS 15.22 When a current cost method is adopted, is there a disclosure of the current cost of property, plant
and equipment, and of inventories.
213. IAS 15.23 Do the financial statements include a description of the methods adopted to compute the
information called for in items 211. and 212., including the nature of any indices used.
214. IAS 15.26 Does the entity:
a. present a discussion of the significance of the information in the circumstances of the entity;
b. disclose any adjustments to tax provisions or tax balances.
46 E
Notes – Intangible assets IFRS Disclosure checklist 2004
Disclosure made
Yes No N/A
INTANGIBLE ASSETS
In respect of intangible assets acquired in business combinations the IAS 38

(1998) Intangible Assets disclosures shown below apply only if the business
combination agreement date is prior to 31 March 2004.
For intangible assets acquired in business combinations for which the agreement
date is on or after 31 March 2004, the entity shall apply IAS 38 (Revised) Intangible
Assets and the disclosures shown in the section ‘Business Combinations
accounted for under IFRS 3’ on p 68 apply, reference to these disclosures are
distinguished by an (R) subsequent to the IFRS 3 paragraph reference.
disclosures shown in the section ‘Business Combinations accounted for under
IFRS 3’ on p 68 apply, reference to these disclosures are distinguished by an (R)
subsequent to the IFRS 3 paragraph reference..
215. IAS 38.107 Has the following information been disclosed for each class of intangible assets,
distinguishing between internally generated intangible assets and other intangible
assets:
a. the useful lives or the amortisation rates used;
b. the amortisation methods used;
c. the gross carrying amount and the accumulated amortisation (aggregated
with accumulated impairment losses):
– at the beginning of the period; and
– at the end of the period;
d. the line item(s) of the income statement in which the amortisation of
intangible assets is included;
e. a reconciliation of the carrying amount at the beginning and end of the
period (comparative information is not required) showing:
– additions, indicating separately those from internal development and
through business combinations;
– retirements and disposals;
– increases or decreases during the period resulting from revaluations and
from impairment losses recognised or reversed directly in equity under
IAS 36 Impairment of Assets;
– impairment losses recognised in the income statement during the period
under IAS 36;
– impairment losses reversed in the income statement during the period
under IAS 36;
– amortisation recognised during the period;
– net exchange differences arising on the translation of the financial
statements of a foreign entity; and
– other changes in the carrying amount during the period.
216. IAS 38.111 Do the financial statements disclose:
a. if an intangible asset is amortised over more than twenty years, the reasons
the presumption that the useful life of that intangible asset will not exceed
twenty years from the date when the asset is available for use is rebutted;
b. in providing the reasons the presumption that the useful life of an intangible
asset will not exceed twenty years from the date when the asset is available
for use is rebutted, does the entity describe the factor(s) that played a
significant role in determining the useful life of the asset;
c. a description, the carrying amount and remaining amortisation period of any
individual intangible asset that is material to the financial statements of the
entity as a whole;
E 47
IFRS Disclosure checklist 2004 Notes – Intangible assets
Disclosure made
Yes No N/A
d. for intangible assets acquired by way of a government grant and initially

recognised at fair value:
– the fair value initially recognised for these assets;
– their carrying amount; and
– whether they are carried under the benchmark or the allowed alternative
treatment for subsequent measurement;
e. the existence and carrying amounts of intangible assets whose title is
restricted and the carrying amounts of intangible assets pledged as security
for liabilities; and
f. the amount of commitments for the acquisition of intangible assets.
IAS 38.80 Factors that the entity should consider in determining the useful life of an
intangible asset include:
a. the expected usage of the asset by the enterprise and whether the asset
could be efficiently managed by another management team;
b. typical product life cycles for the asset and public information on estimates
of useful lives of similar types of assets that are used in a similar way;
c. technical, technological or other types of obsolescence;
d. the stability of the industry in which the asset operates and changes in the
market demand for the products or services output from the asset;
e. expected actions by competitors or potential competitors;
f. the level of maintenance expenditure required to obtain the expected future
economic benefits from the asset and the company's ability and intent to
reach such a level;
g. the period of control over the asset and legal or similar limits on the use of
the asset, such as the expiry dates of related leases; and
h. whether the useful life of the asset is dependent on the useful life of other
assets of the enterprise.
Revalued intangible assets
217. IAS 38.113 If intangible assets are carried at revalued amounts, has the following
information been disclosed:
a. by class of intangible assets:
– the effective date of the revaluation;
– the carrying amount of revalued intangible assets; and
– the carrying amount that would have been included in the financial
statements had the revalued intangible assets been carried under the
benchmark treatment (amortised historical cost); and
b. the amount of the revaluation surplus that relates to intangible assets at the
beginning and end of the period, indicating the changes during the period
and any restrictions on the distribution of the balance to shareholders.
Research and development
218. IAS 38.115 Do the financial statements disclose the aggregate amount of research and
development expenditure recognised as an expense during the period.
Other information
a. a description of any fully amortised intangible asset that is still in use; and
b. a brief description of significant intangible assets controlled by the entity but not recognised as
assets because they did not meet the recognition criteria of IAS 38 or because they were
acquired or generated before IAS 38 was effective.
48 E
Notes – Intangible assets – goodwill IFRS Disclosure checklist 2004
Disclosure made
Yes No N/A
Transition
220. IAS 38.122 If the entity applies IAS 38 for financial statements covering periods beginning
before 1 July 1999, has that fact been disclosed.
INTANGIBLE ASSETS – GOODWILL
Goodwill
In respect of goodwill acquired in business combinations, the IAS 22 Business

Combinations disclosures shown below apply only if the business combination
agreement date is prior to 31 March 2004.
For goodwill acquired in business combinations for which the agreement date is
on or after 31 March 2004, the entity shall apply IAS 36 (Revised) Impairment of
Assets and IAS 38 (Revised) Intangible Assets and the disclosures shown in the
section ‘Business Combinations accounted under IFRS 3’ outlining IFRS 3
disclosures on p 68 apply, reference to these disclosures are distinguished by an
(R) subsequent to the IFRS 3 paragraph reference..
If an entity has early adopted IFRS 3 Business Combinations, IAS 36 (Revised) and
IAS 38 (Revised) also needs to be applied from the date the entity has applied
IFRS 3 and therefore the disclosures shown in the section ‘Business
Combinations accounted for under IFRS 3’ on p 68 apply, reference to these
disclosures are distinguished by an (R) subsequent to the IFRS 3 paragraph
reference.
221. IAS 22.88 Has the following information been disclosed in the financial statements
regarding goodwill:
a. the amortisation period(s) adopted;
b. if goodwill is amortised over more than twenty years, the reasons the
presumption that the useful life of goodwill will not exceed twenty years
from initial recognition is rebutted;
c. in providing the reasons the presumption that the useful life of goodwill will
not exceed twenty years from initial recognition is rebutted, the factor(s) that
played a significant role in determining the useful life of the goodwill;
IAS 22.48 Factors that the entity should consider in determining the useful life of goodwill
include:
a. the nature and foreseeable life of the acquired business ;
b. the stability and foreseeable life of the industry to which the goodwill
relates;
c. public information on the characteristics of goodwill in similar businesses
or industries and typical lifecycles of similar businesses;
d. the effects of product obsolescence, changes in demand and other
economic factors on the acquired business;
e. the service life expectancies of key individuals or groups of employees and
whether the acquired business could be efficiently managed by another
management team;
f. the level of maintenance expenditure or of funding required to obtain the
expected future economic benefits from the acquired business and the
company's ability and intent to reach such a level;
g. expected actions by competitors or potential competitors; and
h. the period of control over the acquired business and legal, regulatory or
contractual provisions affecting its useful life.
d. if goodwill is not amortised on the straight-line basis, the basis used and
reason why that basis is more appropriate than the straight-line basis;
E 49
IFRS Disclosure checklist 2004 Notes – Intangible assets – goodwill
Disclosure made
Yes No N/A
e. the line item(s) of the income statement in which the amortisation of

goodwill is included; and
f. a reconciliation, of the carrying amount of goodwill, at the beginning and end
of the period showing (comparative information is not required):
– the gross amount, and the accumulated amortisation (aggregated with
accumulated impairment losses), at the beginning of the period;
– any additional goodwill recognised during the period;
– any adjustments resulting from subsequent identification or changes in
value of identifiable assets and liabilities;
– any goodwill derecognised on the disposal of all or part of the business
to which it relates during the period;
– amortisation recognised during the period;
– impairment losses recognised during the period under IAS 36 Impairment
of Assets;
– impairment losses reversed during the period under IAS 36;
– other changes in the carrying amount during the period; and
– the gross amount, and the accumulated amortisation (aggregated with
accumulated impairment losses), at the end of the period.
Negative goodwill
222. IAS 22.64 Has negative goodwill been presented as a deduction from the assets of the
reporting entity, in the same balance sheet classification as goodwill.
223. IAS 22.91 Has the following information been disclosed in the financial statements
regarding negative goodwill:
a. to the extent that negative goodwill will be recognised in income in the same
period as the related identifiable future losses and expenses (under IAS 22.61):
– a description of those losses and expenses;
– the amount; and
– the timing of those losses and expenses;
b. the period(s) over which negative goodwill is recognised as income;
c. the line item(s) of the income statement in which negative goodwill is
recognised as income; and
d. a reconciliation of the carrying amount of negative goodwill at the beginning
and end of the period (comparative information is not required) showing:
– the gross amount of negative goodwill, and the accumulated amount of
negative goodwill that has been recognised as income, at the beginning
of the period;
– any additional negative goodwill recognised during the period;
– any adjustments resulting from subsequent identification or changes in
value of identifiable assets and liabilities;
– any negative goodwill derecognised on the disposal of all or part of the
business to which it relates during the period;
– negative goodwill recognised as income during the period, showing
separately the portion of negative goodwill recognised as income which
relates to identifiable losses (under IAS 22.61);
– other changes in the carrying amount during the period; and
– the gross amount of negative goodwill, and the accumulated amount of
negative goodwill that has been recognised as income, at the end of the
period.
50 E
Notes – Investment property IFRS Disclosure checklist 2004
Disclosure made
Yes No N/A
INVESTMENT PROPERTY
IAS 40.24 IAS 40 Investment Property permits entities to choose either:

a. a fair value model – investment property should be measured at fair value and
changes in fair value should be recognised in the income statement; or
b. a cost model – investment property should be measured at depreciated cost
(less any accumulated impairment losses). The cost model is the
benchmark treatment in IAS 16 Property, Plant and Equipment.
Fair value model and cost model

a. when classification is difficult, the criteria developed by the entity to
distinguish investment property from owner-occupied property and from
property held for sale in the ordinary course of business;
b. the methods and significant assumptions applied in determining the fair value
of investment property;
c. a statement whether the determination of fair value was supported by market
evidence or was more heavily based on other factors (which the entity should
disclose) because of the nature of the property and lack of comparable
market data;
d. the extent to which the fair value of investment property (as measured or
disclosed in the financial statements) is based on a valuation by an
independent valuer who holds a recognised and relevant professional
qualification and who has recent experience in the location and category of
the investment property being valued;
e. if there has been no valuation by an independent valuer (as described in d.
above), that fact;
f. the amounts included in the income statement for:
– rental income from investment property;
– direct operating expenses (including repairs and maintenance) arising from
investment property that generated rental income during the period; and
– direct operating expenses (including repairs and maintenance) arising from
investment property that did not generate rental income during the period;
g. the existence and amounts of restrictions on the realisability of investment
property or the remittance of income and proceeds of disposal; and
h. material contractual obligations to purchase, construct or develop investment
property or for repairs, maintenance or enhancements.
225. IAS 40.74 If the entity applies IAS 40 for periods beginning before 1 January 2001, has that
Fair value model
226. IAS 40.67 If the entity applies the fair value model (described in IAS 40.27-49), does it also
disclose a reconciliation of the carrying amount of investment property at the
beginning and end of the period showing the following (comparative
information is not required):
a. additions, disclosing separately those additions resulting from acquisitions
and those resulting from capitalised subsequent expenditure;
b. additions resulting from acquisitions through business combinations;
c. disposals;
d. net gains or losses from fair value adjustments;
e. the net exchange differences arising on the translation of the financial
statements of a foreign entity;
f. transfers to and from inventories and owner-occupied property; and
E 51
IFRS Disclosure checklist 2004 Notes – Investment property
Disclosure made
Yes No N/A
g. other movements.
227. IAS 40.68 In the exceptional cases when the entity’s policy is to account for investment
properties at fair value, but because of the lack of a reliable fair value, it measures
investment property at cost less any accumulated depreciation and any
accumulated impairment losses (the benchmark treatment in IAS 16 Property,
Plant and Equipment), does the entity disclose:
a. a reconciliation – relating to that investment property separately – of the
carrying amount at the beginning and end of the period;
b. a description of the investment property;
c. an explanation of why fair value cannot be reliably measured;
d. if possible, the range of estimates within which fair value is highly likely to
lie; and
e. on disposal of investment property not carried at fair value:
– the fact that the entity has disposed of investment property not carried at
fair value;
– the carrying amount of that investment property at the time of sale; and
– the amount of gain or loss recognised.
228. IAS 40.70 If the entity has not previously publicly disclosed information on the fair value of
its investment property, it should not restate comparative information. Where
this is the case, does the entity disclose that fact when it first adopts IAS 40.
Cost model
229. IAS 40.69 If the entity applies the cost model, does it disclose:
a. the depreciation methods used;
b. the useful lives or the depreciation rates used;
c. the gross carrying amount and the accumulated depreciation (aggregated with
accumulated impairment losses) at the beginning and end of the period;
d. a reconciliation of the carrying amount of investment property at the
beginning and end of the period showing the following (comparative
– additions, disclosing separately those additions resulting from
acquisitions and those resulting from capitalised subsequent expenditure;
– additions resulting from acquisitions through business combinations;
– disposals;
– depreciation;
– the amount of impairment losses recognised, and the amount of
impairment losses reversed, during the period under IAS 36 Impairment of
Assets;
– the net exchange differences arising on the translation of the financial
– transfers to and from inventories and owner-occupied property; and
– other movements;
e. the fair value of investment property; and
f. in the exceptional cases (see IAS 40.47 for guidance), when the entity cannot
determine the fair value of the investment property reliably, has the entity
disclosed:
– a description of the investment property;
– an explanation of why fair value cannot be determined reliably; and
– if possible, the range of estimates within which fair value is highly likely
to lie.
52 E
Notes – Investments in associates IFRS Disclosure checklist 2004
Disclosure made
Yes No N/A
INVESTMENTS IN ASSOCIATES
230. IAS 28.20 If an associate uses accounting policies other than those adopted by the investor
for like transactions and events in similar circumstances, and it is not practicable
for adjustments to the investors accounting policies to be calculated, has that
231. IAS 28.27 Has the entity disclosed the following:
a. listing of significant associates:
– description of the associates;
– the proportion of ownership interest; and
– if different, the proportion of voting power held; and
b. the methods used to account for such investments.
232. IAS 28.28 Have investments in associates accounted for using the equity method been:
a. classified as long-term assets; and
b. disclosed as a separate item in the balance sheet.
233. IAS 28.28 Has the entity’s share of:
a. the profits or losses of such investments been disclosed as a separate item in
the income statement; and
b. any extraordinary or prior period items been disclosed separately.
234. SIC-20.10 If the entity discontinues recognition of its share of losses of an investee, does it
disclose in the notes to the financial statements the amount of its unrecognised
share of losses of the investee:
a. during the period; and
b. cumulatively.
INVESTMENTS IN JOINT VENTURES
IAS 31.48 A venturer which does not issue consolidated financial statements, because it does
not have subsidiaries, should also disclose the information identified in items 235.
to 238.
235. IAS 31.45 Does the entity (venturer) disclose the aggregate amount of the following
contingent liabilities in connection with joint ventures, unless the probability of
loss is remote, separately from the amount of 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
which 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. those contingent liabilities that arise because the venturer is contingently
liable for the liabilities of the other venturers of a joint venture.
236. IAS 31.46 Does the entity (venturer) disclose the aggregate amount of the following
commitments, in respect of its interests in joint ventures, separately from other
commitments:
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.
237. IAS 31.47 Does the entity (venturer) disclose:
a. a listing of interests in significant joint ventures;
b. a description of interests in significant joint ventures; and
c. the proportion of ownership interest held in jointly controlled entities.
E 53
IFRS Disclosure checklist 2004 Notes – Inventories
Disclosure made
Yes No N/A
238. IAS 31.47 If the entity (venturer) reports its interests in jointly controlled entities using the
line-by-line reporting format for proportionate consolidation or the equity
method, does it disclose the aggregate amounts related to its interests in joint
ventures of each of:
a. current assets;
b. long-term assets;
c. current liabilities;
d. long-term liabilities;
e. income; and
f. expenses,
INVENTORIES
239. IAS 2.34 Is the following information disclosed:

a. the accounting policies adopted in measuring inventories, including the cost
formula used;
IAS 2.35 b. the total carrying amount of inventories and the carrying amount in
classifications appropriate to the entity (Common classifications of
inventories are merchandise, production supplies, materials, work in progress
and finished goods. The inventories of a service provider may simply be
described as work in progress);
c. the carrying amount of inventories carried at net realisable value;
d. the amount of any reversal of any write-down that is recognised as income in
the period;
e. the circumstances or events that led to the reversal of a write-down of
inventories; and
f. the carrying amount of inventories pledged as security for liabilities.
240. IAS 2.36 When the cost of inventories is determined using the LIFO formula (the allowed
alternative treatment), the financial statements should disclose the difference
between the amount of inventories as shown in the balance sheet and either:
a. the lower of the amount arrived at based on the benchmark treatment (FIFO
or weighted average cost) and net realisable value; or
b. the lower of current cost at the balance sheet date and net realisable value.
241. IAS 2.37 Do the financial statements disclose either:
a. the cost of inventories recognised as an expense during the period; or
b. the operating costs, applicable to revenues, recognised as an expense during
the period, classified by their nature (as explained in IAS 2.39).
LEASE DISCLOSURES BY LESSEES
Finance leases
IAS 17.24 The requirements on disclosure under the following standards also apply to assets
acquired under finance leases:
a. IAS 16 Property, Plant and Equipment;
b. IAS 32 Financial Instruments: Disclosure and Presentation;
c. IAS 36 Impairment of Assets;
d. IAS 38 Intangible Assets;
e. IAS 40 Investment Property; and
f. IAS 41 Agriculture.
242. IAS 17.23 Has the following information been disclosed by the entity for finance leases (in
which it is the lessee):
a. for each class of asset, the net carrying amount at the balance sheet date;
54 E
Notes – Lease disclosures by lessees IFRS Disclosure checklist 2004
Disclosure made
Yes No N/A
b. a reconciliation between the total of minimum lease payments at the balance

sheet date, and their present value.
c. the total of minimum lease payments at the balance sheet date, and their
present value, for each of the following periods:
– not later than one year;
– later than one year and not later than five years; and
– later than five years;
d. contingent rents recognised in income 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 lessee’s significant leasing arrangements
including, but not limited to, the following:
– the basis on which contingent rent payments are determined;
– the existence and terms of renewal or purchase options and escalation
clauses; and
– restrictions imposed by lease arrangements, such as those concerning
dividends, additional debt and further leasing.
Operating leases
IAS 17.27 The requirements on disclosure under IAS 32 Financial Instruments: Disclosure and
Presentation also apply to operating leases.
243. IAS 17.27 Has the following information been disclosed by the entity for operating leases
(in which it is the lessee):
a. the total of future minimum lease payments under non-cancellable operating
leases for each of the following periods:
– later than one year and not later than five years;
b. the total of future minimum sublease payments expected to be received
under non-cancellable subleases at the balance sheet date;
c. lease and sublease payments recognised in income for the period, with
separate amounts for:
– minimum lease payments;
– contingent rents; and
– sublease payments;
d. a general description of the lessee’s significant leasing arrangements
including, but not limited to, the following:
– the basis on which contingent rent payments are determined;
– the existence and terms of renewal or purchase options and escalation
clauses; and
– restrictions imposed by lease arrangements, such as those concerning
dividends, additional debt and further leasing.
Sale and leaseback transactions
244. IAS 17.56 Does the description of the significant leasing arrangements in which the entity
is the seller/lessee include disclosure of any unique or unusual provisions of the
agreement, or terms of the sale and leaseback transactions.
E 55
IFRS Disclosure checklist 2004 Notes – Property, plant and equipment
Disclosure made
Yes No N/A
Substance of transactions involving the legal form of a lease
245. SIC-27.10 All aspects of an arrangement that does not, in substance, involve a lease under
SIC-27.11 IAS 17 should be considered in determining the appropriate disclosures that are
necessary to understand the arrangement and the accounting treatment adopted.
When the entity has entered into arrangements that are leases in form but not in
substance; does the entity disclose, separately for each arrangement or each class of
arrangements, the following information in each period that an arrangement exists:
a. a description of the arrangement including:
– the underlying asset and any restrictions on its use;
– the life and other significant terms of the arrangement;
– the transactions that are linked together, including any options; and
b. the accounting treatment applied to any fee received;
c. the amount of fees recognised as income in the period; and
d. the line item of the income statement in which the fee income is included.
PROPERTY, PLANT AND EQUIPMENT
246. IAS 16.60 Is the following information disclosed for each class of property, plant and
equipment:
a. the measurement bases used for determining the gross carrying amount;
b. when more than one measurement basis has been used, the gross carrying
amount for that basis in each category;
c. the depreciation methods used;
d. the useful lives or the depreciation rates used;
e. the gross carrying amount and the accumulated depreciation (aggregated with
accumulated impairment losses) at the beginning and end of the period;
f. a reconciliation of the carrying amount at the beginning and end of the
period showing (comparative information is not required):
– additions;
– disposals;
– acquisitions through business combinations;
– increases or decreases during the period resulting from revaluations (under
IAS 16 paragraphs .29, .37 and .38) and from impairment losses recognised
or reversed directly in equity under IAS 36 Impairment of Assets;
– impairment losses recognised in the income statement during the period
under IAS 36;
– impairment losses reversed in the income statement during the period
under IAS 36;
– depreciation;
– the net exchange differences arising on the translation of the financial
– other movements.
247. IAS 16.61 Has the following information been disclosed:
a. the existence and amounts of restrictions on title, and property, plant and
equipment pledged as security for liabilities;
b. the accounting policy for the estimated costs of restoring the site of items of
property, plant or equipment;
c. the amount of expenditures on account of property, plant and equipment in
the course of construction; and
d. the amount of commitments for the acquisition of property, plant and
equipment.
56 E
Notes – Provisions, contingent liabilities and contingent assets IFRS Disclosure checklist 2004
Disclosure made
Yes No N/A
248. IAS 16.64 When items of property, plant and equipment are stated at revalued amounts,
has the following information been disclosed:
a. the basis used to revalue the assets;
b. the effective date of the revaluation;
c. whether an independent valuer was involved;
d. the nature of any indices used to determine replacement cost;
e. the carrying amount of each class of property, plant and equipment that
would have been included in the financial statements had the assets been
carried at cost less any accumulated depreciation and any accumulated
impairment losses (the benchmark treatment in IAS 16.28); and
f. the revaluation surplus, indicating the movement for the period and any
restrictions on the distribution of the balance to shareholders.
249. SIC-14.5 Has monetary or non-monetary compensation recognised for the impairment or
loss of items of property, plant and equipment been disclosed separately.
250. IAS 16.66 Has the following additional information been disclosed:
a. the carrying amount of temporarily idle property, plant and equipment;
b. the gross carrying amount of any fully depreciated property, plant and equipment that is
still in use;
c. the carrying amount of property, plant and equipment retired from active use and held for
disposal; and
d. when the benchmark treatment is used, the fair value of property, plant and equipment
when this is materially different from the carrying amount.
PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS
251. IAS 37.92 In extremely rare cases, disclosure of some or all of the information required
regarding provisions, contingent liabilities or contingent assets can be expected
to prejudice seriously the position of the entity in a dispute with other parties.
Has the entity disclosed in such cases:
a. the general nature of the dispute; and
b. the fact that, and reason why, the information has not been disclosed.
Provisions
252. IAS 22.92 Have provisions recognised (on business combinations accounted for as
acquisitions) for terminating or reducing the activities of an acquiree been:
a. treated as a separate class of provisions for the purpose of disclosure under
items 253. and 254.; and
b. disclosed separately for each individual business combination.
253. IAS 37.84 Is the following information disclosed for each class of provision (comparative
a. the carrying amount at the beginning and end of the period;
b. additional provisions made in the period, including increases to existing
provisions;
c. amounts used (i.e. incurred and charged against the provision) during the
period;
d. unused amounts reversed during the period; and
e. 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.
254. IAS 37.85 Has the following information been disclosed for each class of provision:
a. a brief description of the nature of the obligation and the expected timing of
any resulting outflows of economic benefits;
E 57
IFRS Disclosure checklist 2004 Notes – Related parties
Disclosure made
Yes No N/A
b. an indication of the uncertainties about the amount or timing of those

outflows. Where necessary to provide adequate information, the entity
should disclose the major assumptions made concerning future events, (see
IAS 37.49-50 for additional guidance); and
c. the amount of any expected reimbursement, stating the amount of any asset
that has been recognised for that expected reimbursement.
Contingent liabilities
255. IAS 37.86 Unless the possibility of any outflow in settlement is remote, has the entity
disclosed for each class of contingent liability at the balance sheet date:
a. a brief description of the nature of the contingent liability;
b. an estimate of its financial effect, measured in accordance with the
requirements for measuring provisions (under IAS 37.36-52);
c. an indication of the uncertainties relating to the amount or timing of any
outflow;
d. the possibility of any reimbursement; and
IAS 37.91 e. if any of the above information is not disclosed, the fact that it is not
practicable to do so.
256. IAS 37.88 When a provision and a contingent liability arise from the same set of
circumstances, has the entity made the disclosures required under items 253.,
254. and 255. in a way that shows the link between the provision and the
contingent liability.
Contingent assets
257. IAS 37.89 When an inflow of economic benefits is probable, has the entity disclosed:
a. a brief description of the nature of the contingent assets at the balance sheet
date;
b. if practicable, an estimate of their financial effect, measured in accordance
with the requirements for measuring provisions (under IAS 37.36-52);
IAS 37.91 c. when any of the above information is not disclosed, the fact that it is not
practicable to do so.
Transition
258. IAS 37.93 If comparative information has not been restated upon adoption of IAS 37, has
259. IAS 37.95 If the entity applies IAS 37 for periods beginning before 1 July 1999, has this fact
been disclosed.
RELATED PARTIES
IAS 24.4 No disclosure of transactions is required:

a. in consolidated financial statements in respect of intra-group transactions;
b. in parent financial statements when they are made available or published
with the consolidated financial statements;
c. in financial statements of a wholly-owned subsidiary if its parent is
incorporated in the same country and provides consolidated financial
statements in that country; and
d. in financial statements of state-controlled entities of transactions with other
state-controlled entities.
IAS 19.23 Although IAS 19 does not require specific disclosures about short-term and other
IAS 19.131 long-term employee benefits, IAS 24 Related Party Disclosures may require
disclosure of information about short-term and other long-term employee
benefits for key management personnel.
58 E
Notes – Revenue IFRS Disclosure checklist 2004
Disclosure made
Yes No N/A
IAS 24.19 The following are examples of situations of related party transactions that may
lead to disclosures by the reporting entity in the period which they affect:
a. purchases or sales of goods (finished or unfinished);
b. purchases or sales of property and other assets;
c. rendering or receiving of services;
d. agency arrangements;
e. leasing arrangements;
f. transfer of research and development;
g. licence agreements;
h. finance (including loans and equity contributions in cash or in kind);
i. guarantees and collaterals; and
j. management contracts.
260. IAS 24.20 Have related party relationships for which control exists been disclosed
irrespective of whether there have been transactions between the related parties.
261. IAS 24.22 If there have been transactions between related parties, has the reporting entity
IAS 24.24 disclosed the following information (items of a similar nature may be disclosed
in aggregate except when separate disclosure is necessary for an understanding of
the effects of related party transactions on the financial statements of the
reporting entity):
a. the nature of the related party relationships;
b. the types of transactions; and
c. the elements of the transactions necessary for an understanding of the
financial statements, including:
IAS 24.23 – an indication of the volume of transactions, either as an amount or as an
appropriate portion;
– amounts or appropriate proportions of outstanding items; and
– pricing policies.
262. IAS 24.25 Have transactions with associated entities, accounted for under the equity
method, been disclosed separately as related party transactions.
REVENUE
263. IAS 18.35 Does the entity disclose:

a. the accounting policies adopted for the recognition of revenue;
b. the methods adopted to determine the stage of completion of transactions
involving the rendering of services;
c. the amount of each significant category of revenue recognised during the
period including revenue arising from:
– the sale of goods;
– the rendering of services;
– interest;
– royalties;
– dividends; and
d. the amount of revenue arising from exchanges of goods or services included
in each significant category of revenue.
Service concession arrangements
264. SIC-29.6 An entity (the Concession Operator) may enter into an arrangement with another
SIC-29.7 entity (the Concession Provider) to provide services that give the public access to
major economic and social facilities. All aspects of a service concession
arrangement should be considered in determining the appropriate disclosures in the
notes to the financial statements. If the entity is a Concession Operator or a
Concession Provider, does the entity disclose the following in each period for each
E 59
IFRS Disclosure checklist 2004 Notes – Segment reporting
Disclosure made
Yes No N/A
service concession arrangement or each class of service concession arrangements:

a. a description of the arrangement;
b. significant terms of the arrangement that may affect the amount, timing and
certainty of future cash flows such as the period of the concession, re-pricing
dates and the basis upon which repricing or re- negotiation is determined;
c. the nature and extent of:
– rights to use specified assets;
– obligations to provide or rights to expect provision of services;
– obligations to acquire or build items of property, plant and equipment;
– obligations to deliver or rights to receive specified assets at the end of
the concession period;
– renewal and termination options; and
– other rights and obligations; and
d. changes in the arrangement occurring during the period.
SEGMENT REPORTING
IAS 14.4 Entities whose securities are not publicly traded that prepare financial statements
IAS 14.5 complying with International Accounting Standards are encouraged, but not
required, to disclose financial information by segment voluntarily. If such entities
disclose segment information on a voluntary basis such disclosures should be
made in accordance with the requirements of IAS 14.
IAS 14.6 If a single financial report contains the consolidated financial statements of the
entity whose securities are publicly traded and the separate financial statements of
the parent or one or more subsidiaries, segment information need be presented
only on the basis of the consolidated financial statements.
IAS 14.7 If a single financial report contains the financial statements of the entity whose
securities are publicly traded and the separate financial statements of an equity
method associate or joint venture in which the entity has a financial interest, segment
information need be presented only on the basis of the entity’s financial statements.
265. IAS 14.3 If the entity’s equity or debt securities are publicly traded or if the entity is in the
process of issuing equity or debt securities in public securities markets, does it
comply with the requirements of IAS 14 Segment Reporting.
266. IAS 14.27 Has the entity chosen its primary and secondary reporting basis in accordance
with IAS 14.32.
267. IAS 14.40 Does the entity voluntarily report vertically integrated activities as separate segments, with
appropriate description including disclosure of the basis of pricing inter-segment transfers.
Primary segment information
268. IAS 14.50 Has the following information been disclosed for each reportable segment based
on the entity’s primary reporting format:
IAS 14.51 a. the segment revenue from sales to external customers;
IAS 14.51 b. the segment revenue from transactions with other segments;
IAS 14.52 c. the segment result;
IAS 14.53 d. if the entity can compute segment net profit or loss or some other measure of segment
profitability other than segment result without arbitrary allocations:
– segment net profit or loss or some other measure of segment profitability, appropriately
described; and
– if the above amount is prepared on a basis other than the accounting policies adopted
for the consolidated or parent-only financial statements, a clear description of the basis
of measurement;
IAS 14.55 e. the carrying amount of segment assets;
IAS 14.56 f. segment liabilities;
60 E
Notes – Segment reporting IFRS Disclosure checklist 2004
Disclosure made
Yes No N/A
IAS 14.57 g. the total cost incurred during the period to acquire segment assets that are
expected to be used during more than one period (property, plant, equipment,
and intangible assets), measured on an accruals basis, not a cash basis;
IAS 14.58 h. the total amount of expense included in segment result for depreciation and
IAS 14.63 amortisation of segment assets (unless the entity reports segment cash flow
information in accordance with IAS 7.50, see item 268.k.);
IAS 14.59 i. 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 reportable segment for the period;
IAS 14.61 j. the total amount of significant non-cash expenses (other than depreciation
IAS 14.63 and amortisation) that were included in segment expense and, therefore,
deducted in measuring segment result (unless the entity reports segment cash
flow information in accordance with IAS 7.50, see item 268.k.);
IAS 7.50 k. cash flows arising from:
– financing activities;
IAS 14.62 l. significant non-cash revenues that were included in segment revenue and, therefore, added in
measuring segment result;
IAS 14.64 m. the aggregate of the entity’s share of the net profit or loss of associates, joint
ventures, or other investments accounted for under the equity method if
substantially all of those associates’ operations are within that single segment;
and
IAS 14.66 n. the aggregate investments in those associates and joint ventures, if the
entity’s aggregate share of the net profit or loss of associates, joint ventures,
or other investments accounted for under the equity method is disclosed by
reportable segment.
269. IAS 14.67 Does the entity present reconciliations between the following:
a. segment revenue and the entity’s revenue from external customers (including
disclosure of the amount of entity revenue from external customers not
included in any segment’s revenue);
b. segment result and a comparable measure of the entity’s operating profit or
loss;
c. segment result and the entity’s net profit or loss;
d. segment assets and the entity’s assets; and
e. segment liabilities and the entity’s liabilities.
Secondary segment information
IAS 14.49 Entities are encouraged to present all of the primary segment disclosures for each
reportable secondary segment, although requirements for disclosure on the
secondary basis are considerably less.
270. IAS 14.69 If the entity’s primary format for reporting segment information is business
segments, does it also report the following information:
a. segment revenue from external customers by geographical area based on the
geographical location of its customers, for each geographical segment whose
revenue from sales to external customers is 10 per cent or more of total
entity revenue from sales to all external customers;
b. the total carrying amount of segment assets by geographical location of
assets, for each geographical segment whose segment assets are 10 per cent
or more of the total assets of all geographical segments; and
c. the total cost incurred during the period to acquire segment assets that are
expected to be used during more than one period (property, plant,
equipment, and intangible assets) by geographical location of assets, for each
geographical segment whose segment assets are 10 per cent or more of the
total assets of all geographical segments.
E 61
IFRS Disclosure checklist 2004 Notes – Segment reporting
Disclosure made
Yes No N/A
271. IAS 14.70 If the entity’s primary format for reporting segment information is geographical
segments (whether based on location of assets or location of customers), does it
also report the following segment information for each business segment whose
revenue from sales to external customers is 10 per cent or more of total entity
revenue from sales to all external customers or whose segment assets are 10 per
cent or more of the total assets of all business segments:
a. segment revenue from external customers;
b. the total carrying amount of segment assets; and
c. the total cost incurred during the period to acquire segment assets that are
equipment, and intangible assets).
272. IAS 14.71 If (1) the entity’s primary format for reporting segment information is
geographical segments that are based on location of assets and (2) the location of
its customers is different from the location of its assets, does the entity then also
report revenue from sales to external customers for each customer-based
geographical segment whose revenue from sales to external customers is 10 per
cent or more of total entity revenue from sales to all external customers.
273. IAS 14.72 If (1) the entity’s primary format for reporting segment information is geographical
segments that are based on location of customers and (2) the entity’s assets are
located in different geographical areas from its customers, does the entity then also
report the following segment information for each asset-based geographical
segment whose revenue from sales to external customers or segment assets is 10
per cent or more of related consolidated or total entity amounts:
a. the total carrying amount of segment assets by geographical location of the
assets; and
b. the total cost incurred during the period to acquire segment assets that are
equipment, and intangible assets) by location of the assets.
Other segmental disclosures
274. IAS 14.81 Has the following information been disclosed in the financial statements or
elsewhere in the financial report:
a. the types of products and services included in each reported business
segment; and
b. the geographical composition of each reported geographical segment, both
primary and secondary.
275. IAS 14.74 If a business segment or geographical segment for which information is reported to
the board of directors and chief executive officer is not a reportable segment
because it earns a majority of its revenue from sales to other segments, but
nonetheless its revenue from sales to external customers is 10 per cent or more of
total entity revenue from sales to all external customers, does the entity disclose:
a. that the revenue from sales to external customers is 10 per cent or more of
total entity revenue from sales to all external customers;
b. the amounts of revenue from:
– sales to external customers; and
– internal sales to other segments.
276. IAS 14.75 Is the basis of pricing inter-segment transfers and any change therein disclosed
in the financial statements.
277. IAS 14.76 If the entity has adopted changes in accounting policies for segment reporting
that have a material effect on segment information has the following information
been disclosed:
a. a description of the nature of the change;
b. the reasons for the change;
62 E
Notes – Shareholders’ equity IFRS Disclosure checklist 2004
Disclosure made
Yes No N/A
c. the fact that comparative information has been restated or that it is

impracticable to do so;
d. the financial effect of the change, if it is reasonably determinable;
e. for comparative information:
i. restated prior period segment information, unless it is impracticable to
do so; or
ii. segment data for both the old and the new bases of segmentation in the
year in which the entity changes the identification of its segments
(comparative segment information would be presented using the old
basis of segmentation).
SHAREHOLDERS’ EQUITY
IAS 1.74 An entity without share capital, such as a partnership, should disclose information
equivalent to that required below, showing movements during the period in each
category of equity interest and the rights, preferences and restrictions attaching to
each category of equity interest.
278. IAS 1.74 Does the entity disclose the following, either on the face of the balance sheet or
in the notes:
a. for each class of share capital:
– the number of shares authorised;
– the number of shares issued and fully paid, and issued but not fully paid;
– par value per share, or that the shares have no par value;
– a reconciliation of the number of shares outstanding at the beginning
and at the end of the year;
– the rights, preferences and restrictions attaching to that class including
restrictions on the distribution of dividends and the repayment of capital;
– shares in the entity held by the entity itself or by subsidiaries or
associates of the entity; and
– shares reserved for issuance under options and sales contracts, including
the terms and amounts;
b. a description of the nature and purpose of each reserve within owners’
equity;
c. the amount of dividends that were proposed or declared after the balance
sheet date but before the financial statements were authorised for issue; and
d. the amount of any cumulative preference dividends not recognised.
Treasury shares
279. SIC-16.6 Have the amounts of reductions to equity for treasury shares held been disclosed
separately either on the face of the balance sheet or in the notes.
280. SIC-16.7 If the entity or any of its subsidiaries re-acquires its own shares from parties able
to control or exercise significant influence over the entity, has this been disclosed
by the entity.
Cost of an equity transaction
281. SIC-17.9 Has the amount of transaction costs accounted for as a deduction from equity in
the period been disclosed separately.
282. SIC-17.9 Have the related income taxes recognised directly in equity been included in the
disclosure of the aggregate amount of current and deferred income tax credited
or charged to equity.
E 63
IFRS Disclosure checklist 2004 Notes – Taxation
Disclosure made
Yes No N/A
TAXATION
283. IAS 12.91 If earlier adoption of IAS 12 (revised 2000) affects the financial statements, has
284. IAS 12.79 Are the following major components of tax expense (income) disclosed
IAS 12.80 separately:
a. current tax expense (income);
b. any adjustments recognised in the period for current tax of prior periods;
c. the amount of deferred tax expense (income) relating to the origination and
reversal of temporary differences;
d. the amount of deferred tax expense (income) relating to changes in tax rates
or the imposition of new taxes;
e. the amount of the benefit arising from a previously unrecognised tax loss, tax
credit or temporary difference of a prior period that is used to reduce current
tax expense;
f. the amount of the benefit from a previously unrecognised tax loss, tax credit
or temporary difference of a prior period that is used to reduce deferred tax
expense;
g. deferred tax expense arising from the write-down, or reversal of a previous
write-down, of a deferred tax asset where it is no longer probable that
sufficient taxable profit will be available to allow the benefit of part or all of
that deferred tax asset to be utilised (see IAS 12.56); and
h. the amount of tax expense (income) relating to those changes in accounting
policies and fundamental errors which are included in the determination of net
profit or loss for the period in accordance with the allowed alternative
treatment (which requires any adjustment to be included in the determination
of the net profit or loss for the year) in IAS 8 Net Profit or Loss for the Period,
Fundamental Errors and Changes in Accounting Policies.
285. IAS 12.81 Has the following information been disclosed separately:
a. the aggregate current and deferred tax relating to items that are charged or
credited to equity;
b. tax expense (income) relating to extraordinary items recognised during the
period;
c. an explanation of the relationship between tax expense (income) and
accounting profit in either or both of the following forms:
i. a numerical reconciliation between tax expense (income) and the
product of accounting profit multiplied by the applicable tax rate(s),
disclosing also the basis on which the applicable tax rate(s) is (are)
computed; or
ii. 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;
d. an explanation of changes in the applicable tax rate(s) compared to the
previous accounting period;
e. in relation to deductible temporary differences, unused tax losses, and
unused tax credits for which no deferred tax asset is recognised in the
balance sheet:
– the amount; and
– expiry date, if any
f. 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 (see IAS 12.39 for
additional guidance);
64 E
Notes – Taxation IFRS Disclosure checklist 2004
Disclosure made
Yes No N/A
g. for each type of temporary difference, and for each type of unused tax losses
and unused tax credits:
– the amount of the deferred tax assets and liabilities recognised in the
balance sheet for each period presented; and
– 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;
h. for discontinued operations, the tax expense relating to:
– the gain or loss on discontinuance; and
– the profit or loss from the ordinary activities of the discontinued
operation for the period, together with the corresponding amounts for
each prior period presented; and
i. the amount of income tax consequences of dividends to shareholders of the
entity that were proposed or declared before the financial statements were
authorised for issue, but are not recognised as a liability in the financial
statements.
286. IAS 12.87 Has the amount of unrecognised deferred tax liabilities associated with investments in subsidiaries,
branches and associates and interests in joint ventures, for which deferred tax liabilities have not
been recognised, been disclosed.
287. IAS 12.88 When changes in tax rates or tax laws are enacted or announced after the balance
sheet date, has the entity disclosed any significant effect of those changes on its
current and deferred tax assets and liabilities.
288. IAS 12.82 Has the following information been disclosed when (1) the utilisation of the
deferred tax asset is dependent on future taxable profits in excess of the profits
arising from the reversal of existing taxable temporary differences and (2) the
entity has suffered a loss in either the current or preceding period in the tax
jurisdiction to which the deferred tax asset relates:
a. the amount of a deferred tax asset; and
b. the nature of the evidence supporting its recognition.
289. IAS 12.82A In some jurisdictions, income taxes are payable at a higher or lower rate if part or
all of the net profit or retained earnings is paid out as a dividend to shareholders of
the entity. In some other jurisdictions, income taxes may be refundable or payable
if part or all of the net profit or retained earnings is paid out as a dividend to
shareholders of the entity. In these circumstances, does the entity disclose:
a. the nature of the potential income tax consequences that would result from
the payment of dividends to its shareholders;
b. the amounts of the potential income tax consequences practicably
determinable;
c. any potential income tax consequences not practicably determinable; and
IAS 12.87A d. the important features of the income tax systems and the facts that will affect
the amount of the potential income tax consequences of dividends.
290. IAS 12.87B It may sometimes not be practicable to compute the total amount of the
potential income tax consequences that would result from the payment of
dividends to shareholders, however in such circumstances it may be possible to
compute some portions of the total, for example:
a. if in a consolidated group, a parent and some of its subsidiaries (1) have paid
income taxes at a higher rate on undistributed profits and (2) are aware of the
amount that would be refunded on the payment of future dividends to
shareholders from consolidated retained earnings, does the entity disclose the
refundable amount;
b. if applicable, does the entity disclose that there are additional potential
income tax consequences that are not practicably determinable;
c. do the parent’s separate financial statements, if any, disclose the potential
income tax consequences relating to the parent’s retained earnings.
E 65
IFRS Disclosure checklist 2004 Agriculture
Disclosure made
Yes No N/A
AGRICULTURE
IAS 41.58 IAS 41 Agriculture should be applied in accounting for biological assets,
agricultural produce at the point of harvest and government grants covered by the
standard for periods beginning on or after 1 January 2003.
291. IAS 41.39 Does the entity present the carrying amount of its biological assets separately on
the face of its balance sheet.
292. IAS 41.40 Does the entity 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.
293. IAS 41.41 Is a description of each group of biological assets disclosed by the entity.
294. IAS 41.43 Does the entity provide a quantified description of each group of biological
assets, distinguishing between consumable and bearer biological assets or
between mature and immature biological assets.
295. IAS 41.46 If not disclosed elsewhere in information published with the financial
statements, do the financial statements include:
a. the nature of its activities involving each group of biological assets; and
b. non-financial measures or estimates of the physical quantities of:
– each group of the entity’s biological assets at the end of the period; and
– output of agricultural produce during the period.
296. Does the entity disclose the following information in its financial statements:
IAS 41.47 a. the methods and significant assumptions applied in determining the fair value
of each group of agricultural produce at the point of harvest and each group
of biological assets;
IAS 41.48 b. the fair value less estimated point-of-sale costs of costs of agricultural
produce harvested during the period, determined at the point of harvest;
IAS 41.49 c. the existence and carrying amounts of biological assets whose title is restricted;
d. the carrying amounts of biological assets pledged as security for liabilities;
e. the amount of commitments for the development or acquisition of biological
assets;
f. financial risk management strategies related to agricultural activity; and
IAS 41.50 g. 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) that includes at least:
– the gain or loss arising from changes in fair value less estimated point-of-
sale costs;
– increases due to purchases;
– decreases due to sales;
– decreases due to harvest;
– increases resulting from business combinations;
– net exchange differences arising on the translation of financial
– other changes.
297. IAS 41.51 Does the entity disclose, by group or otherwise, the amount of change in fair
value less estimated point-of-sale costs included in net profit or loss due to
physical changes and due to price changes.
Disclosure when fair value cannot be measured reliably
298. IAS 41.54 If the entity measures biological assets at their cost less any accumulated
depreciation and any accumulated impairment losses at the end of the period
(because fair value cannot be measured reliably, see IAS 41.30 for additional
66 E
Agriculture IFRS Disclosure checklist 2004
Disclosure made
Yes No N/A
guidance), has the following information been disclosed for such biological assets:
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.
299. IAS 41.55 If, during the current period, the entity measures biological assets at their cost
less any accumulated depreciation and any accumulated impairment losses, does
the entity disclose:
a. any gain or loss recognised on disposal of such biological assets;
b. a separate reconciliation of changes in the carrying amount of such biological
assets between the beginning and the end of the current period that includes
at least (comparative information is not required):
– increases due to purchases;
– decreases due to sales;
– decreases due to harvest;
– increases resulting from business combinations;
– net exchange differences arising on the translation of financial
– impairment losses included in net profit or loss;
– reversals of impairment losses included in net profit or loss;
– depreciation included in net profit or loss; and
– other changes.
300. IAS 41.56 If the fair value of biological assets previously measured at their cost less any
accumulated depreciation and any accumulated impairment losses becomes
reliably measurable during the current period, does the entity 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.
301. IAS 41.57 Does the entity disclose the following information related to agricultural activity
covered by IAS 41:
a. the nature and extent of government grants recognised in the financial
statements;
b. any unfulfilled conditions and other contingencies attaching to government
grants;
c. significant decreases expected in the level of government grants.
302. IAS 41.58 If the entity applies IAS 41 for periods before 1 January 2003, has this fact been
disclosed.
E 67
IFRS Disclosure checklist 2004 Business combinations accounted under IFRS 3
Disclosure made
Yes No N/A
BUSINESS COMBINATIONS ACCOUNTED UNDER IFRS 3
IFRS 3.78 The IFRS 3 Business Combinations disclosures shown below apply only to
business combinations having an agreement date on or after 31 March 2004 (or
IAS
an earlier date if the Standard has been early adopted by the entity).
36.139(R)
IAS For goodwill and intangible assets acquired in business combination for which
38.130(R)
the agreement date is on or after 31 March 2004, the entity shall apply IAS 36
(Revised) Impairment of Asset and IAS 38 (Revised) Intangible Assets.
IFRS 3.85 Where the entity wishes to apply the requirements of this IFRS to goodwill
existing at or acquired after, and to business combinations occurring from, any
date before the effective dates outlined in paragraphs IFRS 3.78 – 84, the entity
must:
a. use valuations and other information needed to apply the IFRS to past
combinations, that were obtained at the time those combinations were
initially accounted for; and
b. also apply IAS 36 (Revised) and IAS 38 (Revised) prospectively from the
same date, and the valuations and other information needed to apply
those standards from that date were previously obtained by the entity so
there is no need to determine estimates that would to have been made at
a prior date.
Acquisitions
Disclosure requirements regarding cash flows from acquisitions and disposals

of subsidiaries or other business units are addressed in the section on Cash
Flow Statements.
303. IFRS 3.66 Does the acquirer disclose information (refer IFRS 3.67 – 71 below) that
enables users of its financial statements to evaluate the nature and financial
effect of business combinations that were effected:
a. during the period; and
b. after the balance sheet date but before the financial statements were
authorised for issue.
304. IFRS 3.67 To give effect to the principle in IFRS 3.66 above have the following
disclosures been made in the financial statements for each business
combination that was effected during the period:
a. the names and descriptions of the combining entities or businesses;
b. the acquisition date;
c. the percentage of voting power acquired;
d. the cost of the combination;
e. a description of the component of that cost including costs directly

attributable to the combination;
f. when equity instruments are issued or issuable as part of the cost:
- the number of equity instruments issued or issuable; and
- the fair value of those instruments and the basis for determining that
fair value;
68 E
Business combinations accounted under IFRS 3 IFRS Disclosure checklist 2004
Disclosure made
Yes No N/A
- where a published price does not exist for the instruments at the date
of exchange, the significant assumptions used to determine fair
value;
- if a published price exists at the date of exchange but was not used as
the basis for determining the cost of the combination, that fact
together with the reasons, the published price, the methods and
significant assumptions used to attribute a value to equity
instruments and the aggregate amount of difference between the
value attributed to, and the published price of the equity instruments.
g. details of any operation the entity has decided to dispose of as a result of
the combination;
h. the amounts recognised at acquisition date for each class of the
acquiree’s assets, liabilities and contingent liabilities, and, unless
disclosure would be impracticable, the carrying amounts of each of those
classes, determined in accordance with IFRSs, immediately before the
combination (if such disclosure would be impracticable that fact shall be
disclosed together with an explanation of why this is the case);
i. the amount of any excess recognised in the profit or loss associated with
an excess in the acquirer’s interest in the net fair value of the acquirees
identifiable assets, liabilities and contingent liabilities, over cost, and the
line item in the income statement in which the excess if recognised;
j. a description of the factors that contributed to a cost that results in the
recognition of goodwill;
k. a description of each intangible asset that was not recognised separately
from goodwill and an explanation of why the intangible asset’s fair value
could not be measured reliably or a description of the nature of any excess
recognised in the profit or loss in i) above; and
l. the amount of the acquiree’s profit or loss since the acquisition date
included in the acquirer’s profit or loss for the period, unless disclosures
would be impracticable (if such disclosure would be impracticable that fact
shall be disclosed together with an explanation of why this is the case).
IFRS 3.68 Information to be disclosed in IFRS 3.67 above shall be disclosed in aggregate
for business combinations effected during the reporting period that are
individually immaterial.
305. IFRS 3.69 For business combinations where the initial accounting was determined only
provisionally, does the entity disclose:
a. that fact; and
b. an explanation of why this is the case.
306. IFRS 3.70 To give effect to the principle in IFRS 3.66 above have the following
disclosures been made:
a. the revenue of the combined entity for the period as though the
acquisition date for all business combinations effected during the period
had been the beginning of that period;
b. the profit or loss of the combined entity for the period as though the
acquisition date for all business combinations effected during the period
had been the beginning of that period; and
c. where the disclosure of the information required in a. and b. above would
be impracticable, has that fact been disclosed, together with an explanation
E 69
Disclosure made
Yes No N/A
of why this is the case.

Business combinations after balance sheet date
307. IFRS 3.71 For business combinations effected after the balance sheet date, but before
the financial statements are authorised for issue, has the following been
disclosed:
a. information required by IFRS 3.67 noted above; and
b. if it is impracticable to disclose any of this information, has this fact
been disclosed together with an explanation as to why this is the case.
Business combinations – adjustments
308. IFRS 3.72 Has the acquirer disclosed information to enable users of its financial
IFRS 3.73
statements to evaluate the financial effects of gains, losses, error corrections
and other adjustments recognised in the current period that relate to
business combinations that were effected in the current or in previous
periods, by disclosing the following information:
a. the amount and an explanation of any gain or loss recognised in the
current period that:
- relates to the identifiable assets acquired or liabilities or contingent
liabilities assumed in a business combination that was effected in the
current or a previous period; and
- is of such size, nature or incidence that disclosure is relevant to an
understanding of the combined entity’s financial performance; and
b. where the initial accounting for a business combination that was
effected in the immediately preceding period was determined only
provisionally at the end of that period, the amounts and explanations of
the adjustments to the provisional values recognised during the current
period; and
c. the information about error corrections required to be disclosed by IAS
8 for any of the acquiree’s identifiable assets, liabilities or contingent
liabilities, or changes in values assigned to those items that the acquirer
recognises during the current period in accordance with paragraphs
IFRS 3.63 and IFRS 3.64.
Business combinations – other necessary information
309. IFRS 3.77 If the information required to be disclosed by IFRS 3 does not satisfy the
objectives of IFRS 3.66 or IFRS 3.72 noted above, has disclosure been
made of such additional information as is necessary to meet those
objectives.
Impairment of assets
310. IAS 36.126(R) Has the following information been disclosed for each class of assets:
a. the amount of impairment losses recognised in profit or loss during the
period and the line item(s) of the income statement in which those
impairment losses are included;
b. the amount of reversals of impairment losses recognised in profit or
loss during the period and the line item(s) of the income statement in
which those impairment losses are reversed;
c. the amount of impairment losses on revalued assets recognised directly
in equity during the period; and
d. the amount of reversals of impairment losses on revalued assets
recognised directly in equity during the period.
70 E
Disclosure made
Yes No N/A
311. IAS 36.129(R) If the entity reports segment information in accordance with IAS 14 Segment
Reporting does it disclose the following for each reportable segment based on
an entity’s primary reporting format (as defined in IAS 14):
a. the amount of impairment losses recognised in profit or loss and
directly in equity during the period; and
b. the amount of reversals of impairment losses recognised in profit or
loss and directly in equity during the period.
312. IAS 36.130(R) If an impairment loss for an individual asset, including goodwill, or a cash-
generating unit is recognised or reversed during the period and is material,
does the entity 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:
– the nature of the asset; and
– the reportable segment to which the asset belongs, based on the
entity’s primary reporting format (if the entity reports segment
information in accordance with IAS 14);
d. for a cash-generating unit:
– a description of the cash-generating unit (such as whether it is a
product line, a plant, a business operation, a geographical area, or a
reportable segment as defined in IAS 14);
– the amount of the impairment loss recognised or reversed by class
of assets and by reportable segment based on the entity’s primary
reporting format (if the entity reports segment information in
accordance with IAS 14); and
– if the aggregation of assets for identifying the cash-generating unit
has changed since the previous estimate of the cash-generating
unit’s recoverable amount, the entity should disclose a description
of the current and former way of aggregating assets and the reasons
for changing the way the cash-generating unit is identified;
e. whether the recoverable amount of the asset (cash-generating unit) is its
fair value less costs to sell or its value in use;
f. if recoverable amount is fair value less costs to sell, the basis used to
determine fair value less costs to sell (such as whether fair value was
determined by reference to an active market); and
g. if recoverable amount is value in use, the discount rate(s) used in the
current estimate and previous estimate of value in use.
313. IAS 36.131(R) Does the entity disclose the following information for impairment losses
and the aggregate reversals of impairment losses recognised for which no
information is disclosed in accordance with IAS 36.130 above:
a. the main classes of assets affected by impairment losses and the main
classes of assets affected by reversals of impairment losses; and
b. the main events and circumstances that led to the recognition of these
impairment losses and reversals of impairment losses.
E 71
Disclosure made
Yes No N/A
314. IAS 36.132(R) Does the entity disclose the assumptions used to determine the recoverable amount of assets
(cash-generating units) during the period.
315. IAS 36.134(R) Does the entity disclose the following information for each cash-generating
unit (group of units) for which the carrying amount of goodwill or
intangible assets with indefinite useful lives allocated to that unit (group of
units) is significant in comparison with the entity’s total carrying amount of
goodwill or intangible assets with indefinite useful lives:
a. the carrying amount of goodwill allocated to the unit (group of units);
b. the carrying amount of intangible assets with indefinite useful lives
allocated to the unit (group of units);
c. the basis on which the unit’s (group of units’) recoverable amount has
been determined (ie value in use or fair value less costs to sell);
d. if the unit’s (group of units’) recoverable amount is based on value in use:
– a description of each key assumption on which management has
based its cash flow projections for the period covered by the most
recent budgets/forecasts;
– a description of management’s approach to determining the value(s)
assigned to each key assumption, whether those value(s) reflect past
experience or, if appropriate, are consistent with external sources of
information, and, if not, how and why they differ from past
experience or external sources of information;
– the period over which management has projected cash flows based
on financial budgets/forecasts approved by management and, when
a period greater than five years is used for a cash-generating unit
(group of units), an explanation of why that longer period is
justified;
– the growth rate used to extrapolate cash flow projections beyond
the period covered by the most recent budgets/forecasts, and the
justification 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 unit (group of units) is dedicated; and
– the discount rate(s) applied to the cash flow projections; and
e. if the unit’s (group of units’) recoverable amount is based on fair value
less costs to sell, the methodology used to determine fair value less costs
to sell. If fair value less costs to sell is not determined using an observable
market price for the unit (group of units), the following information shall
also be disclosed:
– a description of each key assumption on which management has
based its determination of fair value less costs to sell; and
– a description of management’s approach to determining the value(s)
assigned to each key assumption, whether those value(s) reflect past
information, and, if not, how and why they differ from past
experience 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 unit’s (group of units’)
recoverable amount would cause the unit’s (group of units’) carrying
amount to exceed its recoverable amount:
72 E
Disclosure made
Yes No N/A
– the amount by which the unit’s (group of units’) recoverable

amount exceeds its carrying amount;
– the value assigned to the key assumption; and
– 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 unit’s (group of units’) recoverable amount to be equal to its
carrying amount.
316. IAS 36.135(R) Where some or all of the carrying amount of goodwill or intangible assets
with indefinite useful lives is allocated across multiple cash-generating units
(groups of units), and the amount so allocated to each unit (group of units) is
not significant in comparison with the entity’s total carrying amount of
goodwill or intangible assets with indefinite useful lives, does the entity
disclose:
a. that fact; and
b. the aggregate carrying amount of goodwill or intangible assets with
indefinite useful lives allocated to those units (groups of units).
317. IAS 36.135(R) Where the recoverable amounts of any of those units (groups of units) are
based on the same key assumption(s) and the aggregate carrying amount of
goodwill or intangible assets with indefinite useful lives allocated to them is
significant in comparison with the entity’s total carrying amount of goodwill
or intangible assets with indefinite useful lives, does the entity disclose:
a. that fact;
b. the aggregate carrying amount of goodwill allocated to those units (groups
of units);
c. the aggregate carrying amount of intangible assets with indefinite useful
lives allocated to those units (groups of units);
d. a description of the key assumption(s);
e. a description of management’s approach to determining the value(s)
assigned to the key assumption(s), whether those value(s) reflect past
information, and, if not, how and why they differ from past experience or
external sources of information; and
f. if a reasonably possible change in the key assumption(s) would cause the
aggregate of the units’ (groups of units’) carrying amounts to exceed the
aggregate of their recoverable amounts:
– the amount by which the aggregate of the units’ (groups of units’)
recoverable amounts exceeds the aggregate of their carrying amounts;
– the value(s) assigned to the key assumption(s); and
– the amount by which the value(s) assigned to the key assumption(s)
must change, after incorporating any consequential effects of the
change on the other variables used to measure recoverable amount, in
order for the aggregate of the units’ (groups of units’) recoverable
amounts to be equal to the aggregate of their carrying amounts.
E 73
Disclosure made
Yes No N/A
INTANGIBLE ASSETS
318. IAS 38.118(R) Has the following information been disclosed for each class of intangible
assets, distinguishing between internally generated intangible assets and other
intangible assets:
a. whether the useful lives are indefinite or finite and, if finite the useful
lives or the amortisation rates used;
b. the amortisation methods used for intangible assets with finite useful
lives;
c. the gross carrying amount and the accumulated amortisation (aggregated
with accumulated impairment losses):
– at the beginning of the period; and
– at the end of the period;
d. the line item(s) of the income statement in which any amortisation of
intangible assets is included;
e. a reconciliation of the carrying amount at the beginning and end of the
period showing:
– additions, indicating separately those from internal development,
those acquired separately, and those acquired through business
combinations;
– assets classified as held for sale or included in a disposal group
classified as held for sale in accordance with IFRS 5 and other
disposals;
– increases or decreases during the period resulting from revaluations
and from impairment losses recognised or reversed directly in equity
in accordance with IAS 36 Impairment of Assets, if any;
– impairment losses recognised in profit or loss during the period in
accordance with IAS 36, if any;
– impairment losses reversed in profit or loss during the period in
accordance with IAS 36, if any;
– any amortisation recognised during the period;
– net exchange differences arising on the translation of the financial
statements into the presentation currency, and on the translation of
a foreign operation into the presentation currency of the reporting
entity; and
– other changes in the carrying amount during the period.
319. IAS 38.122(R) Do the financial statements disclose:
a. for an intangible asset assessed as having an indefinite useful life, the
carrying amount of that asset and reasons supporting the assessment of
an indefinite useful life;
b. in giving these reasons, does the entity describe the factor(s) that played
a significant role in determining that the asset has an indefinite useful life;
c. a description, the carrying amount and remaining amortisation period of
any individual intangible asset that is material to the entity’s financial
statements;
d. for intangible assets acquired by way of a government grant and initially
recognised at fair value:
– the fair value initially recognised for these assets;
– their carrying amount; and
– whether they are measured after recognition under the cost model
or the revaluation model;
e. the existence and carrying amounts of intangible assets whose title is
restricted and the carrying amounts of intangible assets pledged as
security for liabilities; and
74 E
Disclosure made
Yes No N/A
f. the amount of contractual commitments for the acquisition of intangible

assets.
Revalued intangible assets
320. IAS 38.124(R) If intangible assets are accounted for at revalued amounts, has the entity
disclosed the following information:
a. by class of intangible assets:
– the effective date of the revaluation;
– the carrying amount of revalued intangible assets; and
– the carrying amount that would have been recognised had the
revalued class of intangible assets been measured after recognition
using the cost model in paragraph IAS 38.74;
b. the amount of the revaluation surplus that relates to intangible assets at
the beginning and end of the period, indicating the changes during the
period and any restrictions on the distribution of the balance to
shareholders; and
c. the method and significant assumptions applied in estimating the assets’
fair values.
Research and development
321. IAS 38.126(R) Does the entity disclose the aggregate amount of research and development
expenditure recognised as an expense during the period.
Other information
322. IAS 38.128(R) Does the entity disclose the following information:
a. a description of any fully amortised intangible asset that is still in use; and
b. a brief description of significant intangible assets controlled by the entity but not recognised
as assets because they did not meet the recognition criteria of IAS 38 or because they were
acquired or generated before the version of IAS 38 Intangible Assets issued in 1998 was
effective.
E 75
Disclosure made
Yes No N/A
Intangible assets – goodwill
323. IFRS 3.74 Has the entity disclosed the following information that enables users of its
financial statements to evaluate changes in the carrying amount of goodwill
IFRS 3.75 during the period:
a. a reconciliation of the carrying amount at the beginning and end of the
period showing:
- the gross amount and accumulated impairment losses at the beginning of
the period;
- additional goodwill recognised during the period except goodwill included
in a disposal group that, on acquisition, meets the criteria to be classified
as held for sale in accordance with IFRS 5;
- adjustments resulting from the subsequent recognition of deferred tax assets
during the period;
- goodwill included in a disposal group classified as held for sale in
accordance with IFRS 5 and goodwill derecognised during the period
without having previously been included in a disposal group classified as
held for sale;
- impairment losses recognised during the period;
- net exchange differences arising during the period;
- any other changes in the carrying amount during the period; and
- the gross amount and accumulated impairment losses at the end of the
period.
324. IFRS 3.77 If the information required to be disclosed by IFRS 3 does not satisfy the
objective of IFRS 3.74 noted above, has disclosure been made of such
additional information as is necessary to meet that objective.
325. IAS 36.133(R) Where the initial allocation of goodwill acquired in a business combination
was incomplete at reporting date, therefore goodwill was not allocated to a
cash generating unit (group of units) at the reporting date, does the entity
disclose:
a. the amount of the unallocated goodwill; and
b. the reasons why that amount remains unallocated.
76 E
Banks and Similar Financial Institutions IFRS Disclosure checklist 2004
Disclosure made
Yes No N/A
BANKS AND SIMILAR FINANCIAL INSTITUTIONS
IAS 30.1 The disclosure requirements below should be applied in the financial statements
of banks and similar financial institutions as defined in IAS 30
IAS 7.33 Interest paid and interest and dividends received are usually classified as operating
cash flows for a financial institution.
326. IAS 30.3 Does the entity present a commentary on the financial statements that deals with
such matters as the management and control of liquidity and risk.
327. IAS 30.8 Has the entity disclosed accounting policies dealing with the following items:
a. the recognition of the principal types of income;
b. the valuation of investment and dealing securities;
c. the distinction between those transactions and other events that result in the
recognition of assets and liabilities on the balance sheet and those transactions
and other events that only give rise to contingencies and commitments;
d. the basis for the determination of losses on loans and advances and for
writing off uncollectible loans and advances;
e. the basis for the determination of charges for general banking risks and the
accounting treatment of such charges.
328. IAS 30.9 Does the entity present an income statement that groups income and expenses
by nature and discloses the amounts of the principal types of income and
expenses.
329. IAS 30.10 Does the entity disclose the following items of income and expense:
a. Interest and similar income;
b. Interest expense and similar charges;
c. Dividend income;
d. Fee and commission income;
e. Fee and commission expense;
f. Gains less losses arising from dealing securities;
g. Gains less losses arising from investment securities;
h. Gains less losses arising from dealing in foreign currencies;
i. Other operating income;
j. Losses on loans and advances;
k. General administrative expenses; and
l. Other operating expenses.
a. a commentary about average interest rates;
b. a commentary about average interest earning assets;
c. a commentary about average interest-bearing liabilities;
d. in countries where governments provide assistance to banks by making
deposits and other credit facilities available at interest rates that are
substantially below market rates, does the entity disclose the extent of these
deposits and facilities and their effect on net income.
331. IAS 30.18 Does the entity present a balance sheet that groups assets and liabilities by nature
and lists them in an order that reflects their relative liquidity.
a. Assets:
– Cash and balance with the central bank;
– Treasury bills and other bills eligible for rediscounting with the central
bank;
E 77
IFRS Disclosure checklist 2004 Banks and Similar Financial Institutions
Disclosure made
Yes No N/A
– Government and other securities held for dealing purposes;

– Placements with, and loans and advances to, other banks;
– Other money market placements;
– Loans and advances to customers; and
– Investment securities.
b. Liabilities:
– Deposits from other banks;
– Other money market deposits;
– Amounts owed to other depositors;
– Certificates of deposits;
– Promissory notes and other liabilities evidenced by paper; and
– Other borrowed funds.
333. IAS 30.24 Does the entity disclose the fair values of each class of its financial assets and
liabilities in accordance with IAS 32 Financial Instruments: Disclosure and Presentation
and IAS 39 Financial Instruments: Recognition and Measurement.
334. IAS 30.25 IAS 39 provides for four classifications of financial assets: loans and receivables
originated by the enterprise, held-to-maturity investments, financial assets held
for trading, and available-for-sale financial assets. Does the entity disclose the
fair values of its financial assets for each of these four classifications.
335. IAS 30.26 Does the entity disclose the following contingent liabilities and commitments:
a. the nature and amount of commitments to extend credit that are irrevocable
because they cannot be withdrawn at the discretion of the entity without the
risk of incurring significant penalty or expense; and
b. the nature and amount of contingencies and commitments arising from off
balance sheet items including those relating to:
– direct credit substitutes including general guarantees of indebtedness,
bank acceptance guarantees and standby letters of credit serving as
financial guarantees for loans and securities;
– certain transaction-related contingent liabilities including performance
bonds, bid bonds, warranties and standby letters of credit related to
particular transactions;
– short-term self-liquidating trade-related contingent liabilities arising from
the movement of goods, such as documentary credits where the
underlying shipment is used as security;
– those sale and repurchase agreements not recognised in the balance
sheet;
– interest and foreign exchange rate related items including swaps, options
and futures; and
– other commitments, note issuance facilities and revolving underwriting
facilities.
336. IAS 30.30 Does the entity disclose an analysis of assets and liabilities into relevant maturity
groupings based on the remaining period at the balance sheet date to the
contractual maturity date (see IAS 30.33-35 for guidance on determining the
maturity groupings).
337. IAS 30.40 Does the entity disclose significant concentrations of its assets, liabilities and off
balance sheet items in terms of:
a. geographical areas;
b. customer or industry groups; or
c. other concentrations of risk
338. IAS 30.40 Does the entity disclose the amount of significant net foreign currency
exposures.
78 E
Banks and Similar Financial Institutions IFRS Disclosure checklist 2004
Disclosure made
Yes No N/A
a. the accounting policy which describes the basis on which uncollectable loans
and advances are recognised as an expense and written off;
b. details of the movements in the provision for losses on loans and advances
during the period, disclosing:
– the amount recognised as an expense in the period for losses on
uncollectable loans and advances;
– the amount charged in the period for loans and advances written off;
and
– the amount credited in the period for loans and advances previously
written off that have been recovered;
c. the aggregate amount of the provision for losses on loans and advances at
the balance sheet date; and
d. the aggregate amount included in the balance sheet for loans and advances
on which interest is not being accrued and the basis used to determine the
carrying amount of such loans and advances.
340. IAS 30.48 When a bank does not accrue interest on a loan or advance (for example when
the borrower is more than a particular period in arrears with respect to the
payment of interest or principal), does it disclose:
a. the aggregate amount of loans and advances at the balance sheet date on
which interest is not being accrued; and
b. the basis used to determine the carrying amount of such loans and advances.
341. IAS 30.50 Does the entity disclose any amounts set aside for general banking risks,
including future losses and other unforeseeable risks or contingencies, as
appropriations of retained earnings.
a. the aggregate amount of secured liabilities;
b. the nature of the assets pledged as security; and
c. carrying amount of the assets pledged as security.
343. IAS 30.55 If the entity is engaged in significant trust activities, has disclosure been made of
that fact and has an indication been given of the extent of those activities in its
financial statements (because of the potential liability if the entity were to fail in
its fiduciary duties).
344. IAS 30.58 Has the entity disclosed the following information to conform with IAS 24:
a. the entity’s lending policy to related parties;
b. for related party transactions, the amount included in or the proportion of:
– each of loans and advances, deposits and acceptances and promissory
notes. (Disclosures may include: the aggregate amounts outstanding at
the beginning of the period, the aggregate amounts outstanding at the
end of the period, advances, deposits, repayments and other changes
during the period.)
– each of the principal types of income, interest expense and commissions
paid;
– the amount of the expense recognised in the period for losses on loans and
advances and the amount of the provision at the balance sheet date; and
– irrevocable commitments and contingencies and commitments arising
from off balance sheet items.
E 79
IFRS Disclosure checklist 2004 Banks and Similar Financial Institutions
Disclosure made
Yes No N/A
CONSTRUCTION CONTRACTORS
345. IAS 11.42 Does the entity present the following amounts in respect of construction
contracts separately in the balance sheet (unless clearly immaterial):
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.
a. the amount of contract revenue recognised as revenue in the period;
b. the methods used to determine the contract revenue recognised in the
period; and
c. the methods used to determine the stage of completion of contracts in
progress.
347. IAS 11.40 Does the entity disclose the following for contracts in progress at the balance
sheet date:
a. the aggregate amount of costs incurred and recognised profits (less
recognised losses) to date;
b. the amount of advances received; and
c. the amount of retentions.
IAS 11.45 The entity should disclose any contingent assets and contingent liabilities in
connection with construction contracts in accordance with IAS 37 Provisions,
Contingent Liabilities and Contingent Assets.
80 E
Lease Disclosures by Lessors IFRS Disclosure checklist 2004
Disclosure made
Yes No N/A
LEASE DISCLOSURES BY LESSORS
Finance leases
IAS 17.39 The disclosure requirements of IAS 32 Financial Instruments: Disclosure and
Presentation also apply to amounts receivable under finance leases.
348. IAS 17.39 Has the following information been disclosed by the entity for finance leases:
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 periods:
c. unearned finance income;
d. the unguaranteed residual values accruing to the benefit of the lessor;
e. the accumulated allowance for uncollectible minimum lease payments
receivable;
f. contingent rents recognised in income; and
g. a general description of the lessor’s significant leasing arrangements.
Operating leases
IAS 17.48 The requirements on disclosure under the following standards also apply to
IAS 17.48A operating leases:
a. IAS 16 Property, Plant and Equipment;
b. IAS 32 Financial Instruments: Disclosure and Presentation;
c. IAS 36 Impairment of Assets;
d. IAS 38 Intangible Assets;
e. IAS 40 Investment Property; and
f. IAS 41 Agriculture.
349. IAS 17.48 Has the following information been disclosed by the entity for operating leases:
a. the future minimum lease payments under non-cancellable operating leases in
the aggregate and for each of the following periods:
b. total contingent rents recognised in income; and
c. a general description of the lessor’s significant leasing arrangements.
Sale and leaseback transactions
350. IAS 17.56 Does the description of the significant leasing arrangements lead to disclosure of
any unique or unusual provisions of the agreement, or terms of the sale and
leaseback transactions, in which the entity is the purchaser/lessor.
E 81
IFRS Disclosure checklist 2004 Reporting by Retirement Benefit Plans
Disclosure made
Yes No N/A
REPORTING BY RETIREMENT BENEFIT PLANS
IAS 26.1 The disclosures in this section only apply to the reports of retirement benefits plans.
Defined contribution plans
351. Does the report of the retirement benefit plan contain the following
information:
IAS 26.35 a. a statement of net assets available for benefits disclosing:
IAS 26.13
– assets at the end of the period suitably classified;
– the basis of valuation of assets;
– details of any single investment exceeding either 5% of the net assets
available for benefits or 5% of any class or type of security;
– details of any investment in the employer; and
– liabilities other than the actuarial present value of promised retirement
benefits;
IAS 26.35 b. a statement of changes in net assets available for benefits showing the
following:
– employer contributions;
– employee contributions;
– investment income such as interest and dividends;
– other income;
– benefits paid or payable (analysed, for example, as retirement, death and
disability benefits, and lump sum payments);
– administrative expenses;
– other expenses;
– taxes on income;
– profits and losses on disposal of investments and changes in value of
investments; and
– transfers from and to other plans;
IAS 26.13 c. a description of the funding policy;
IAS 26.35
IAS 26.34 d. a summary of significant accounting policies; and
IAS 26.36 e. a description of the plan and the effect of any changes in the plan during the
period disclosing:
i. the names of the employers and the employee groups covered;
ii. the number of participants receiving benefits;
iii. the number of other participants;
iv. the type of plan – defined contribution;
v. a note as to whether participants contribute to the plan;
vi. a description of the retirement benefits promised to participants;
vii. a description of any plan termination terms; and
viii. changes in items i. to vii. during the period covered by the report.
352. IAS 26.32 When plan investments are held for which an estimate of fair value is not
possible, has the reason that fair value is not used been disclosed.
353. IAS 26.16 Does the report of a defined contribution plan contain the following additional
information:
a. a description of significant activities for the period and the effect of any
changes relating to the plan, and its membership and terms and conditions;
82 E
Reporting by Retirement Benefit Plans IFRS Disclosure checklist 2004
Disclosure made
Yes No N/A
b. statements reporting on the transactions and investment performance for the

period and the financial position of the plan at the end of the period; and
c. a description of the investment policies.
Defined benefit plans
IAS 26.28 For defined benefit plans, information is presented in one of the following
IAS 26.31 formats which reflect different practices in the disclosure and presentation of
actuarial information:
a. a statement is included in the report that shows the net assets available for
benefits, the actuarial present value of promised retirement benefits, and the
resulting excess or deficit. The report of the plan also contains statements
of changes in net assets available for benefits and changes in the actuarial
present value of promised retirement benefits. The report may include a
separate actuary's report supporting the actuarial present value of promised
retirement benefits;
b. a report that includes a statement of net assets available for benefits and a
statement of changes in net assets available for benefits. The actuarial
present value of promised retirement benefits is disclosed in a note to the
statements. The report may also include a report from an actuary
supporting the actuarial present value of promised retirement benefits; and
c. a report that includes a statement of net assets available for benefits and a
statement of changes in net assets available for benefits with the actuarial
present value of promised retirement benefits contained in a separate
actuarial report.
354. Does the report of the retirement benefit plan contain the following
information:
IAS 26.35 a. a statement of net assets available for benefits disclosing:
– assets at the end of the period suitably classified;
– the basis of valuation of assets;
– details of any single investment exceeding either 5% of the net assets
available for benefits or 5% of any class or type of security;
– details of any investment in the employer; and
– liabilities other than the actuarial present value of promised retirement
benefits;
IAS 26.35 b. a statement of changes in net assets available for benefits showing the
following:
– employer contributions;
– employee contributions;
– investment income such as interest and dividends;
– other income;
– benefits paid or payable (analysed, for example, as retirement, death and
disability benefits, and lump sum payments);
– administrative expenses;
– other expenses;
– taxes on income;
– profits and losses on disposal of investments and changes in value of
investments; and
– transfers from and to other plans;
IAS 26.35 c. a description of the funding policy;
IAS 26.34 d. a summary of significant accounting policies; and
IAS 26.36 e. a description of the plan and the effect of any changes in the plan during the
period disclosing:
i. the names of the employers and the employee groups covered;
ii. the number of participants receiving benefits;
E 83
IFRS Disclosure checklist 2004 Reporting by Retirement Benefit Plans
Disclosure made
Yes No N/A
iii. the number of other participants;

iv. the type of plan – defined benefit;
v. a note as to whether participants contribute to the plan;
vi. a description of the retirement benefits promised to participants;
vii. a description of any plan termination terms; and
viii. changes in items i. to vii. during the period covered by the report.
IAS 26.35 f. a description of significant actuarial assumptions made;
IAS 26.35 g. the method used to calculate the actuarial present value of promised
retirement benefits; and
IAS 26.35 h. the actuarial present value of promised retirement benefits (which may
distinguish between vested benefits and non-vested benefits) based on the
benefits promised under the terms of the plan, on service rendered to date,
and which uses either current salary levels or projected salary levels.
355. IAS 26.18 Have the effects of any change in actuarial assumptions that have had a
significant effect on the actuarial present value of promised retirement benefits
been disclosed.
356. IAS 26.17 If an actuarial valuation has not been prepared at the date of the report, has the
date of the valuation used been disclosed.
357. IAS 26.18 Does the entity disclose the basis used – using either current salary levels or
projected salary levels – to calculate the actuarial present value of promised
retirement benefits.
358. IAS 26.32 Where plan investments are held for which an estimate of fair value is not
possible, has the reason why fair value is not used been disclosed.
359. IAS 26.17 Does the report of a defined benefit plan contain the following:
a. a statement that shows:
i. the net assets available for benefits;
ii. the actuarial present value of promised retirement benefits,
distinguishing between vested benefits and non-vested benefits; and
iii. the resulting excess or deficit; or
b. a statement of net assets available for benefits including either:
i. a note disclosing the actuarial present value of promised retirement
benefits, distinguishing between vested benefits and non-vested benefits;
or
ii. a reference to this information in an accompanying actuarial report.
360. IAS 26.19 Does the report explain the relationship between the actuarial present value of
promised retirement benefits and the net assets available for benefits, and the
policy for the funding of promised benefits.
361. IAS 26.22 Does the report of a defined benefit plan contain the following additional
information:
a. a description of significant activities for the period and the effect of any
changes relating to the plan, and its membership and terms and conditions;
b. a description of the investment policies.
84 E
Interim reporting IFRS Disclosure checklist 2004
Disclosure made
Yes No N/A
INTERIM REPORTING
IAS 34.1 IAS 34 Interim Financial Reporting does not mandate whether an entity should publish
interim financial reports, how frequently, or how soon after the end of an interim
period. However, IAS 34 applies if the entity is required or elects to publish an
interim financial report in accordance with International Accounting Standards.
IAS 34.19 An interim financial report is not described as complying with International
Accounting Standards unless it complies with all of the requirements of each
applicable Standard and each applicable Interpretation of the Standing
Interpretations Committee.
IAS 34.9 If the entity publishes a complete set of financial statements in its interim
financial report, the form and content of those statements conform to the
requirements of IAS 1 for a complete set of financial statements.
IAS 34.18 Other International Accounting Standards specify disclosures that are required to
be made in financial statements. In that context, financial statements means
complete sets of financial statements of the type normally included in an annual
financial report and sometimes included in other reports. The disclosures
required by those other International Accounting Standards are not required if an
entity's interim financial report includes only condensed financial statements and
selected explanatory notes rather than a complete set of financial statements.
Components of interim financial statements
362. IAS 34.19 If the entity’s interim financial report is in compliance with IAS 34, has that fact
been disclosed.
363. IAS 34.8 Do the interim financial statements include at least 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 other than those arising from capital transactions with
owners and distributions to owners;
d. condensed cash flow statement; and
e. selected explanatory notes.
364. IAS 34.10 If the entity publishes condensed financial statements, do they include:
a. each of the headings and subtotals that were included in its most recent
annual financial statements;
b. selected explanatory notes as required by IAS 34; and
c. additional line items or notes whose omission would make the condensed
interim financial statements misleading.
365. IAS 34.11 Does the entity present basic and diluted earnings per share on the face of the
income statement for the interim period.
Periods to be included
366. IAS 34.20 Does the entity include in interim financial reports (condensed or complete) the
following statements:
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
financial year;
b. income statement:
E 85
IFRS Disclosure checklist 2004 Interim Reporting
Disclosure made
Yes No N/A
– for the current interim period;

– a comparative income statement for the same current interim period of
the immediately preceding financial year;
– cumulatively for the current financial year to date; and
– a comparative income statement for the same year to date current
interim period of the immediately preceding financial year;
c. statement showing changes in equity:
– a comparative statement for the comparable year-to-date period of the
immediately preceding financial year; and
d. cash flow statement:
– a comparative statement for the comparable year-to-date period of the
immediately preceding financial year.
367. IAS 34.21 If the entity’s business is highly seasonal, does it disclose:
– financial information for the twelve months ending on the interim reporting date; and
– comparative information for the prior twelve-month period.
Explanatory notes
368. IAS 34.16 Does the entity include the following information in the notes to its interim
financial statements, if material and if not disclosed elsewhere in the interim
financial report:
a. a statement that the same accounting policies and methods of computation
are followed in the interim financial statements as were followed in the most
recent annual financial statements or, if those policies or methods 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 flows that are unusual because of their nature, size, or incidence;
d. the nature and amount of changes in estimates of amounts reported in prior
interim periods of the current financial year, or changes in estimates of
amounts reported in prior financial years, if those changes have a material
effect in the current interim period;
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 business segments or geographical
segments, whichever is the entity’s primary basis of segment reporting
(disclosure of segment data is required in the entity’s interim financial report
only if IAS 14 Segment Reporting requires that entity to disclose segment data in
its annual financial statements);
h. material events subsequent to the end of the interim period that have not
been reflected in the financial statements for the interim period;
i. the effect of changes in the composition of the entity during the interim period,
including business combinations, acquisition or disposal of subsidiaries and
long-term investments, restructurings, and discontinuing operations; and
j. changes in contingent liabilities or contingent assets since the last annual
balance sheet date.
369. IAS 34.16 In addition to the information required above on a financial year-to-date basis,
IAS 34.17 does the entity also disclose any events or transactions that are material to an
understanding of the current interim period such as:
a. the write-down of inventories to net realisable value and the reversal of such
a write-down;
86 E
Interim reporting IFRS Disclosure checklist 2004
Disclosure made
Yes No N/A
b. recognition of a loss from the impairment of property, plant, and equipment,

intangible assets, or other assets, and the reversal of such an impairment loss;
c. the reversal of any provisions for the costs of restructuring;
d. acquisitions and disposals of items of property, plant, and equipment;
e. commitments for the purchase of property, plant, and equipment;
f. litigation settlements;
g. corrections of fundamental errors in previously reported financial data;
h. extraordinary items;
i. any debt default or any breach of a debt covenant that has not been
corrected subsequently; and
j. related party transactions.
370. IAS 35.47 Do the notes to the interim financial report describe:
a. any significant activities or events since the end of the most recent annual
reporting period relating to a discontinuing operation; and
b. any significant changes in the amount or timing of cash flows relating to the
assets and liabilities to be disposed of or settled.
IFRS 1 – First‐Time Adoption requirements
IFRS 1.47 Entities are allowed to apply SIC-8 First-time Application of IASs as the Primary Basis of
Accounting for periods beginning before 1 January 2004. After that date application
of IFRS 1 First-time Adoption of International Financial Reporting Standards is mandatory.
Paragraph 63 of the Implementation Guidance to IFRS 1 provides an example of

the level of detail required in the reconciliations from previous GAAP to IFRS.
371. IFRS 1.45 If the entity presents an interim financial report under IAS 34 Interim Financial
Reporting for part of the period covered by its first IFRS financial statements,
does the entity meet the following requirements:
a. does the entity disclose a reconciliations of:
– its equity under previous GAAP at the end of that comparable interim
period to its equity under IFRSs at that date;
– its current profit or loss under previous GAAP for that comparable
interim period to its profit or loss under IFRSs for that period;
– its year-to-date profit or loss under previous GAAP for that comparable
interim period to its profit or loss under IFRSs for that period;
IFRS 1.39 b. does the entity disclose the following information in its interim financial report
IFRS 1.40 or cross refer to another published document that contains this information:
IFRS 1.45
i. reconciliations – that give sufficient detail to enable users to understand
the material adjustments to the balance sheet – of its equity reported
under previous GAAP to its equity under IFRSs for:
– the date of transition to IFRSs; and
– the end of the latest period presented in the entity’s most recent
annual financial statements under previous GAAP;
ii. a reconciliation – that gives sufficient detail to enable users to
understand the material adjustments to the income statement – of the
profit or loss reported under previous GAAP for the latest period in the
entity’s most recent annual financial statements to its profit or loss under
IFRSs for the same period; and
iii if the entity presented a cash flow statement under its previous GAAP,
does it explain the material adjustments to the cash flow statement.
IFRS 1.41 iv. does the entity separately disclose:
E 87
IFRS Disclosure checklist 2004 Interim Reporting
Disclosure made
Yes No N/A
– in the reconciliations of equity:

– changes in accounting policies;
– in the reconciliation of profit or loss:
– changes in accounting policies.
372. IFRS 1.46 If the entity did not, in its most recent annual financial statements under
previous GAAP, disclose information material to an understanding of the
current interim period, does it disclose in its interim financial report that
information or include a cross-reference to another published document that
includes it.
88 E
IFRS Disclosure checklist 2004
.57.............................. 7 .40............................ 80 .56 ..................... 55, 81

.60.............................. 7 .42............................ 80 IAS 18

.63.............................. 7 .45............................ 80 .35 ..................... 21, 59
.66.............................. 8 IAS 12
.67.............................. 8 IAS 19
INDEX .69.............................. 8 .23 ..................... 27, 58
.72.............................. 8 .70.............................. 8
.74............................ 63 .29 ............................27
The index refers to .71.............................. 8 .30 ............................27
the pages of the .75........................ 9, 10 .74.............................. 8
.77............................ 10 .46 ............................27
checklist on which .77............................ 11 .47 ............................27
.78............................ 10 .78............................ 11
the paragraphs from .81............................ 10 .120................... 18, 28
IASs and SIC .79............................ 64 .122................... 28, 29
.83............................ 10 .80............................ 64
Interpretations can be .85............................ 10 .124..........................29
.81............................ 64 .125..........................29
found. .86............................ 16 .82............................ 65
.91............................ 17 .131............. 11, 29, 58
.82A ......................... 65 .141..........................29
INTERNATIONAL .92............................ 17 .87............................ 65
.97............................ 17 .142..........................29
FINANCIAL .87A ......................... 65 .143..........................29
.99............................ 17 .87B ......................... 65
REPORTING 101........................... 18 .147................... 18, 29
.88............................ 65 .148..........................30
STANDARDS 102............................. 1 .91............................ 64 .149..........................30
IAS 2 IAS 14 .151..........................30
IFRS 1 .34......................21, 54
.39 ....................... 4, 87 .3 .............................. 60 .159..........................27
.35............................ 54 .4 .............................. 60
.40 ...................4, 5, 87 .36............................ 54 IAS 20
.41 ....................... 5, 87 .5 .............................. 60 .39 ..................... 19, 44
.37............................ 54 .6 .............................. 60
.42 ..............................4 .39............................ 53 IAS 21
.43 ..............................5 .7 .............................. 60
IAS 7 .27............................ 60 .21 ............................42
.44 ..............................5 .42 ............................42
.45 ........................... 87 .8.............................. 14 .32............................ 59
.10............................ 13 .40............................ 60 .43 ............................42
.46 ........................... 88 .44 ............................42
.47 ...................4, 5, 87 .18............................ 13 .49............................ 61
.19............................ 13 .50............................ 60 .45 ..................... 21, 42
IFRS 3 .21............................ 13 .51............................ 60 .46 ............................42
.66 ........................... 68 .22............................ 13 .52............................ 60 .47 ............................42
.67 ........................... 68 .24............................ 13 .53............................ 60 IAS 22
.68 ........................... 69 .29............................ 14 .55............................ 60 .48 ..................... 21, 49
.69 ........................... 69 .31......................14, 15 .56............................ 61 .64 ............................50
.70 ........................... 69 .33............................ 77 .57............................ 61 .86 ............................24
.71 ........................... 70 .35............................ 15 .58............................ 61 .87 ............................24
.72 ........................... 70 .36............................ 15 .59............................ 61 .88 ..................... 20, 49
.73 ........................... 70 .39............................ 14 .61............................ 61 .91 ..................... 21, 50
.74 ........................... 76 .40............................ 14 .62............................ 61 .92 ............................57
.75 ........................... 76 .43............................ 15 .63............................ 61 .93 ............................24
.77 ..................... 70, 76 .45............................ 14 .64............................ 61 .94 ............................25
.78 ........................... 68 .46......................14, 18 .66............................ 61 .96 ............................24
.85 ........................... 68 .48............................ 15 .67............................ 61 IAS 23
.50......................15, 61 .69............................ 61 .9 ....................... 18, 25
INTERNATIONAL IAS 8 .70............................ 62 .29 ..................... 18, 25
.10............................ 10 .71............................ 62
ACCOUNTING .72............................ 62 IAS 24
.11............................ 11 .4 ..............................58
STANDARD .16............................ 10 .74............................ 62
.75............................ 62 .19 ............................59
IAS 1 .18............................ 11 .20 ............................59
.28............................ 10 .76............................ 63
.7.................................1 .81............................ 62 .22 ............................59
.8.................................6 .30............................ 10 .23 ............................59
.9.................................6 .34............................ 43 IAS 15 .24 ............................59
.11 ..............................1 .37............................ 43 .21............................ 46 .25 ............................59
.13 ..............................2 .38............................ 44 .22............................ 46
.40............................ 44 .23............................ 46 IAS 26
.19 ..............................2
.48............................ 22 .26............................ 46 .1 ..............................82
.23 ......................... 2, 3
.49............................ 22 .13 ............................82
.29 .............7, 9, 13, 16 IAS 16
.53............................ 22 .16 ............................82
.33 ..............................7 .60............................ 56
.54............................ 22 .17 ............................84
.34 ......................... 7, 9 .61......................21, 56
.57............................ 22 .18 ............................84
.36 ..............................9 .64............................ 57 .19 ............................84
.37 ..............................9 IAS 10 .66............................ 57 .22 ............................84
.38 ........ 2, 7, 9, 13, 16 .12............................ 10 IAS 17 .28 ............................83
.40 .............7, 9, 13, 16 .13.............................. 2 .23............................ 54 .31 ............................83
.42 .............7, 9, 13, 16 .16.............................. 3 .24............................ 54 .32 ..................... 82, 84
.44 ..............................1 .18............................ 31 .27............................ 55 .34 ..................... 82, 83
.46 ..............................1 .20............................ 31 .39............................ 81 .35 ............... 82, 83, 84
.49 ..............................2 IAS 11 .48 ............................ 81 .36 ..................... 82, 83
.53 ..............................7
.39............................ 80 .48A ......................... 81 IAS 27
.54 ..............................8
E 89
IFRS Disclosure checklist 2004 Index
.8.............................. 23 .51............................ 35 .17............................ 86 IAS 38

.21 ..................... 17, 23 .52......................19, 33 .18............................ 85 .80 ..................... 20, 48
.26 ........................... 23 .54......... 18, 19, 32, 33 .19............................ 85 .107................... 19, 47
.32 ...............18, 23, 24 .55......................19, 33 .20............................ 85 .111................... 19, 47
IAS 28 .56............................ 37 .21............................ 86 .113..........................48
.20 ........................... 53 .59............................ 37 .26............................ 43 .115..........................48
.27 ........................... 53 .60............................ 38 IAS 35 .117..........................48
.28 ........................... 53 .61............................ 37 .2 .............................. 25 .122..........................49
.62............................ 37 .27............................ 26 IAS 38 (Revised)
IAS 29 .63............................ 38
.1.............................. 44 .29............................ 25 .118..........................74
.64............................ 37 .31............................ 26 .122..........................74
.9.............................. 44 .65............................ 38
.39 ........................... 44 .33............................ 26 .124..........................75
.66............................ 38 .35............................ 27 .126..........................72
.67............................ 39 .36............................ 27 .128..........................75
IAS 30 .69............................ 38 .37............................ 27 .130..........................68
.1.............................. 77 .70............................ 39 .38............................ 25
.3.............................. 77 .71............................ 39 .39............................ 25
.72............................ 38 IAS 39
.8.............................. 77 .41............................ 27
.73............................ 39 .1 ..............................32
.9.............................. 77 .43............................ 25
.74............................ 39 .166..........................40
.10 ........................... 77 .45............................ 27
.75............................ 39 .167............. 18, 19, 33
.17 ........................... 77 .47............................ 87
.76............................ 39 .168................... 18, 32
.18 ........................... 77 IAS 36
.77............................ 40 .169..........................41
.19 ........................... 77 .113.......................... 45
.79............................ 40 .170................... 33, 34
.24 ........................... 78 .116.......................... 45
.25 ........................... 78 .84............................ 40 IAS 40
.85............................ 40 .117.......................... 45
.26 ........................... 78 .24 ............................51
.87............................ 40 .118.......................... 46
.30 ........................... 78 .66 ..................... 21, 51
.88............................ 40 .119.......................... 46
.40 ........................... 78 .67 ............................51
.89............................ 40 .122.......................... 46
.43 ........................... 79 .68 ............................51
.48 ........................... 79 .94............................ 41 IAS 36 (Revised) .69 ............................51
.50 ........................... 79 IAS 33 .126.......................... 70 .70 ............................51
.53 ........................... 79 .1.............................. 11 .129.......................... 71 .74 ............................51
.55 ........................... 79 .2.............................. 11 .130.......................... 71
IAS 41
.58 ........................... 79 .4.............................. 11 .131.......................... 71
.39 ............................66
.43............................ 11 .132.......................... 72
IAS 31 .40 ............................66
.45............................ 12 .133.......................... 76
.45 ........................... 53 .41 ............................66
.47............................ 12 .134.......................... 72
.46 ........................... 53 .43 ............................66
.48............................ 11 .135.......................... 73
.47 ..................... 53, 54 .46 ............................66
.49............................ 12 .139.......................... 68
.48 ........................... 53 .47 ............................66
.50............................ 12 IAS 37 .48 ............................66
IAS 32 .51............................ 12 .84............................ 57 .49 ............................66
.1.............................. 31 .52............................ 11 .85............................ 57 .50 ............................66
.3.............................. 32 .86............................ 58
IAS 34 .51 ............................66
.30 ..............................9 .88............................ 58
.1.............................. 85 .54 ............................66
.42 ........................... 36 .89............................ 58
.8.............................. 85 .55 ............................67
.43A......................... 36 .91............................ 58
.9.............................. 85 .56 ............................67
.46 ........................... 35 .92............................ 57
.10............................ 85 .57 ............................67
.47 ...............18, 32, 35 .93............................ 58
.11............................ 85 .58 ..................... 66, 67
.49 ........................... 35 .95............................ 58
.50 ........................... 35 .16......................84, 86
90 E
Index IFRS Disclosure checklist 2004
SIC-11 SIC-19 SIC-28

SIC .4.............................. 42 .10............................ 42 .7 ..............................24
SIC-14 SIC-20 .8 ..............................25
INTERPRETATIONS
.5.............................. 57 .10............................ 53 SIC-29
SIC-16 SIC-22 .6 ..............................59
SIC-6 .6.............................. 63 .8 .............................. 24 .7 ..............................59
.5.................................6 .7.............................. 63 SIC-27 SIC-30
SIC-8 SIC-17 .10............................ 56 .8 ..............................43
.7.................................5 .9........................63, 64 .11............................ 56 .9 ..............................43
.8.................................5 .10 ............................43
E 91
ERNST & YOUNG GLOBAL LIMITED www.ey.com/ifrs
ifrs@uk.ey.com
© 2005 EYGM Limited.

All Rights Reserved.
Ernst & Young is
a registered trademark.

IFRSDisc Checklist

Uploaded by

Document Information

Original Description:

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

IFRSDisc Checklist

Uploaded by

Copyright:

Available Formats

A S S U R A N C E A N D A D V I S O RY

Financial statement date: Reviewed:

(Signature and Date)

Financial statements should not be described as complying with International

b. the basis on which the financial statements are prepared; and

IFRS 1 defines the following terms:

h. minority interest; and

IAS 7.31 d. cash outflow from dividends; and

82. IAS 1.86 Does the statement of changes in equity include:

84. IAS 1.91 Do the notes to the financial statements:

– whether carrying amounts are determined from quoted market prices,

For business combinations having an agreement date on or after 31 March 2004

e. if goodwill is not amortised on a straight-line basis, the method used and

For business combinations having an agreement date on or after 31 March 2004

a. the accounting policies adopted for the recognition of revenue; and

For business combinations having an agreement date on or after 31 March 2004

Disclosure requirements regarding cash flows from acquisitions and disposals of

IAS 35.38 The disclosures required on discontinued operations should be presented

b. the business or geographical segment(s) in which it is reported (in accordance

– the extent to which employees’ entitlements to those instruments are

– changes in circumstances that result in significant uncertainty about the

b. relationships between the components of "synthetic instruments" such as

b. for designated fair value hedges:

191. SIC-19.10 Has the entity disclosed the following:

195. IAS 34.26 If an estimate of an amount reported in an interim period is changed

203. IAS 29.39 Have the following disclosures been made:

In respect of goodwill and intangible assets acquired in business combinations,

– if the aggregation of assets for identifying the cash-generating unit has

211. IAS 15.21 Has the following information been presented:

In respect of intangible assets acquired in business combinations the IAS 38

d. for intangible assets acquired by way of a government grant and initially

In respect of goodwill acquired in business combinations, the IAS 22 Business

e. the line item(s) of the income statement in which the amortisation of

IAS 40.24 IAS 40 Investment Property permits entities to choose either:

224. IAS 40.66 Does the entity disclose the following:

239. IAS 2.34 Is the following information disclosed:

b. a reconciliation between the total of minimum lease payments at the balance

b. an indication of the uncertainties about the amount or timing of those

IAS 24.4 No disclosure of transactions is required:

263. IAS 18.35 Does the entity disclose:

service concession arrangement or each class of service concession arrangements:

c. the fact that comparative information has been restated or that it is

Disclosure requirements regarding cash flows from acquisitions and disposals

b. the acquisition date;

c. the percentage of voting power acquired;

d. the cost of the combination;

e. a description of the component of that cost including costs directly

f. when equity instruments are issued or issuable as part of the cost:

- the number of equity instruments issued or issuable; and

b. an explanation of why this is the case.

of why this is the case.

– the amount by which the unit’s (group of units’) recoverable

f. the amount of contractual commitments for the acquisition of intangible

- net exchange differences arising during the period;

b. the reasons why that amount remains unallocated.

– Government and other securities held for dealing purposes;

b. statements reporting on the transactions and investment performance for the

iii. the number of other participants;

– for the current interim period;

b. recognition of a loss from the impairment of property, plant, and equipment,

Paragraph 63 of the Implementation Guidance to IFRS 1 provides an example of

– in the reconciliations of equity: