Notes to the financial statements 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:
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1. Reporting entity 2. Basis of accounting 3. Functional and presentation currency |
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4. Use of judgements and estimates A. Judgements B. Assumptions and estimation uncertainties i. Measurement of fair values |
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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 |
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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 |
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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 |
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8. Revenue A. Revenue streams B. Disaggregation of revenue from contracts with customers C. Contract balances D. Performance obligations and revenue recognition policies |
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9. Income and expenses A. Other income B. Other expenses C. Expenses by nature |
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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) |
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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 |
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13. Employee benefits A. Funding B. Movement in net defined benefit (asset) liability C. Plan assets D. Defined benefit obligation ii. Sensitivity analysis E. Employee benefit expenses |
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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 |
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15. Adjusted earnings before interest, tax, depreciation and amortisation (adjusted EBITDA) |
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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 |
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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 |
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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 |
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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 |
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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 |
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23. Investment property A. Reconciliation of carrying amount B. Measurement of fair values i. Fair value hierarchy ii. Valuation technique and significant unobservable inputs |
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24. Equity-accounted investees A. Joint venture B. Associates 25. Other investments, including derivatives Equity securities designated as at FVOCI |
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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 |
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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 |
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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 |
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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 |
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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 |
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36. Acquisition of NCI 37. Loan covenant waiver 38. Commitments 39. Contingencies |
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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 |
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41. Subsequent events A. Restructuring B. Others |
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42. Basis of measurement 43. Correction of errors i. Consolidated statement of financial position |
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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 |
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
Notes to the financial statements Notes to the financial statements Notes to the financial statements Notes to the financial statements
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