IFRS Bulletin 2021-01 – COVID-19 disclosure supplement
14. Januar 2021
BDO has published its 31 December 2020 illustrative financial statements. Along with the H1 30 June 2020 illustrative interim financial statements, these publications demonstrate the changes in IFRS that should be reflected in an entity’s financial statements, along with some examples of disclosures relating to the effects of COVID-19.
COVID-19 has interrupted the movement of people and goods throughout the world, as well as affecting the profitability and viability of many entities. Its effects may vary significantly from one entity to another, therefore, it is not possible for a single illustrative financial statement to consider all of the financial reporting and disclosure considerations.
The purpose of this COVID-19 supplement is to provide additional matters for entities to consider in preparing their financial statements, including illustrations of certain disclosures. The presentation and disclosure requirements of IFRS are substantial, therefore, this publication cannot adequately replace consulting the full requirements of IFRS or complete disclosure checklists, which summarise all disclosure requirements within IFRS.
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