Notes to the financial statements

Notes to the financial statements that contain information in addition to that presented in the statement of financial position, statement of financial performance, statement of changes in net assets/equity and cash flow statement. Notes provide narrative descriptions or disaggregations of items disclosed in those statements and information about items that do not qualify for recognition in those statements.

Notes are presented, to the extent practicable, in a systematic order and are cross-referred to/from items in the primary statements. In determining a systematic manner of presentation, an entity considers the effect on the understandability and comparability of the financial statements. The entity applies judgement in presenting related information together in a manner that it considers to be most relevant to an understanding of its financial performance and financial position. The order presented is only illustrative and entities need to tailor the organisation of the notes to fit their specific circumstances (IAS 1 113 – 114).

Example headings are as follows:

1. Reporting entity

2. Basis of accounting

3. Functional and presentation currency

4. Use of judgements and estimates

A. Judgements

B. Assumptions and estimation uncertainties

i. Measurement of fair values

5. Changes in significant accounting policies

A. IFRS 15 Revenue from Contracts with Customers


B. IFRS 9 Financial Instruments

i. Classification and measurement of financial assets and financial liabilities

ii. Impairment of financial assets

iii. Hedge accounting

iv. Transition

6. Operating segments

A. Basis for segmentation


B. Information about reportable segments

i. Assets

ii. External revenues

iii. Profit before tax


C. Reconciliations of information on reportable segments to IFRS measures

i. Revenues

ii. Profit before tax

iii. Assets

iv. Liabilities

v. Other material items


D. Geographic information

i. Revenue

ii. Non-current assets

E. Major customer

7. Discontinued operation

A. Results of discontinued operation

B. Cash flows from (used in) discontinued operation

C. Effect of disposal on the financial position of the Group

8. Revenue

A. Revenue streams

B. Disaggregation of revenue from contracts with customers

C. Contract balances

D. Performance obligations and revenue recognition policies

9. Income and expenses

A. Other income

B. Other expenses

C. Expenses by nature

10. Net finance costs

11. Earnings per share

A. Basic earnings per share

i. Profit (loss) attributable to ordinary shareholders (basic)

ii. Weighted-average number of ordinary shares (basic)


B. Diluted earnings per share

i. Profit (loss) attributable to ordinary shareholders (diluted)

ii. Weighted-average number of ordinary shares (diluted)

12. Share-based payment arrangements

A. Description of share-based payment arrangements

i. Share option programmes (equity-settled)

ii. Replacement awards (equity-settled)

iii. Share purchase plan (equity-settled)

iv. Share appreciation rights (cash-settled)


B. Measurement of fair values

i. Equity-settled share-based payment arrangements

ii. Cash-settled share-based payment arrangement


C. Reconciliation of outstanding share options

D. Expense recognised in profit or loss

13. Employee benefits

A. Funding

B. Movement in net defined benefit (asset) liability

C. Plan assets


D. Defined benefit obligation

i. Actuarial assumptions

ii. Sensitivity analysis


E. Employee benefit expenses

14. Income taxes

A. Amounts recognised in profit or loss

B. Amounts recognised in OCI

C. Amounts recognised directly in equity

D. Reconciliation of effective tax rate

E. Movement in deferred tax balances

F. Unrecognised deferred tax liabilities

G. Unrecognised deferred tax assets

H. Tax losses carried forward

I. Uncertainty over income tax treatments

J. Tax impact of the UK giving notice to withdraw from the EU

15. Adjusted earnings before interest, tax, depreciation and amortisation (adjusted EBITDA)

16. Biological assets

A. Reconciliation of carrying amount


B. Measurement of fair values

i. Fair value hierarchy

ii. Level 3 fair values

iii. Valuation techniques and significant unobservable inputs


C. Risk management strategy related to agricultural activities

i. Regulatory and environmental risks

ii. Supply and demand risk

iii. Climate and other risks

17. Inventories

18. Trade and other receivables

A. Transfer of trade receivables

B. Credit and market risks, and impairment losses

19. Cash and cash equivalents

20. Disposal group held for sale

A. Impairment losses relating to the disposal group

B. Assets and liabilities of disposal group held for sale

C. Cumulative income or expenses included in OCI


D. Measurement of fair values

i. Fair value hierarchy

ii. Valuation technique and significant unobservable inputs

21. Property, plant and equipment

A. Reconciliation of carrying amount

B. Impairment loss and subsequent reversal

C. Leased plant and equipment

D. Security

E. Property, plant and equipment under construction

F. Transfer to investment property

G. Change in estimates

H. Change in classification

I. Temporarily idle property, plant and equipment

22. Intangible assets and goodwill

A. Reconciliation of carrying amount

B. Amortisation


C. Impairment test

i. Recoverability of development costs

ii. Impairment loss and subsequent reversal in relation to a new product

iii. Impairment testing for CGUs containing goodwill


D. Development costs

23. Investment property

A. Reconciliation of carrying amount


B. Measurement of fair values

i. Fair value hierarchy

ii. Valuation technique and significant unobservable inputs

24. Equity-accounted investees

A. Joint venture

B. Associates


25. Other investments, including derivatives

Equity securities designated as at FVOCI

26. Capital and reserves

A. Share capital and share premium

i. Ordinary shares

ii. Non-redeemable preference shares


B. Nature and purpose of reserves

i. Translation reserve

iii. Cost of hedging reserve

iv. Fair value reserve

v. Revaluation reserve

vi. Convertible notes

vii. Treasury share reserve


C. Dividends

D. OCI accumulated in reserves, net of tax

27. Capital management

28. Loans and borrowings

A. Terms and repayment schedule

B. Breach of loan covenant

C. Convertible notes

D. Redeemable preference shares


E. Finance lease liabilities

i. Lease of equipment not in the legal form of a lease


F. Reconciliation of movements of liabilities to cash flows arising from financing activities

29. Trade and other payables


30. Deferred income

A. Government grants


31. Provisions

A. Warranties

B. Restructuring

C. Site restoration

i. France

ii. Romania

iii. Acquisition of Papyrus

D. Onerous contracts

E. Legal

F. Levies

32. Financial instruments – Fair values and risk management

A. Accounting classifications and fair values


B. Measurement of fair values

i. Valuation techniques and significant unobservable inputs

ii. Transfers between Levels 1 and 2

iii. Level 3 fair values


C. Financial risk management

i. Risk management framework

ii. Credit risk

iii. Liquidity risk


iv. Market risk

– Currency risk

Exposure to currency risk

Sensitivity analysis

– Interest rate risk

Exposure to interest rate risk

Cash flow sensitivity analysis for variable-rate instruments

– Other market price risk

Sensitivity analysis – Equity price risk

– Cash flow hedges

– Net investment hedges


D. Master netting or similar agreements

33. List of subsidiaries

34. Acquisition of subsidiary

A. Consideration transferred

i. Equity instruments issued

ii. Replacement share-based payment awards

iii. Contingent consideration

iv. Settlement of pre-existing relationship


B. Acquisition-related costs


C. Identifiable assets acquired and liabilities assumed

i. Measurement of fair values

Fair values measured on a provisional basis


D. Goodwill

35. Non-controlling interests

36. Acquisition of NCI

37. Loan covenant waiver

38. Commitments

39. Contingencies

40. Related parties

A. Parent and ultimate controlling party

B. Transactions with key management personnel

i. Key management personnel compensation

ii. Key management personnel transactions

C. Other related party transactions

41. Subsequent events

A. Restructuring

B. Others

42. Basis of measurement

43. Correction of errors

i. Consolidated statement of financial position

44. Significant accounting policies

A. Basis of consolidation

i. Business combinations

ii. Subsidiaries

iii. Non-controlling interests

iv. Loss of control

v. Interests in equity-accounted investees

vi. Transactions eliminated on consolidation

B. Foreign currency

C. Discontinued operation

D. Revenue from contracts with customers

E. Employee benefits

F. Government grants

G. Finance income and finance costs

H. Income tax

I. Biological assets

J. Inventories

K. Property, plant and equipment

L. Intangible assets and goodwill

M. Investment property

N. Assets held for sale

O. Financial instruments

P. Share capital

Q. Compound financial instruments

R. Impairment

S. Provisions

T. Leases

U. Operating profit

V. Fair value measurement

General model of measurement of insurance contracts

Notes to the financial statements

Notes to the financial statements

Notes to the financial statements Notes to the financial statements Notes to the financial statements Notes to the financial statements Notes to the financial statements

Notes to the financial statements Notes to the financial statements Notes to the financial statements Notes to the financial statements

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