Preparers of annual financial statements can use Example Public Company Limited to make their reporting process easier.
Start exploring this publication today to confidently update and refine your financial reports with ease and accuracy.
How this example guide helps you prepare your financial statement
Elevating financial reporting in a complex world
As the global landscape evolves, simple, clear, and connected reporting helps stakeholders, including investors and regulators, build confidence and trust as they seek transparency and alignment across financial and sustainability disclosures.
Clear communication remains fundamental as companies navigate uncertainties and prepare for the future. Preparers of financial statements should aim to integrate the following key elements to deliver a connected and cohesive report:
Uncertainties, such as tariffs, inflation, rising costs, supply chain pressures and other geopolitical risks should be considered in financial assumptions for valuations, asset recoverability, provisions, and debt compliance. Clear and transparent disclosures of key judgments, assumptions and risks are essential in enabling stakeholders to understand the impact on the company.
Stakeholders are increasingly focused on how organisations respond to climate-related risks, capitalise on opportunities, and advance their transition to a low-carbon economy. Preparing for upcoming sustainability reporting in accordance with the Australian Sustainability Reporting Standards (AASB S1 and AASB S2), will be a key step for companies reporting from 31 December 2025 onwards.
Reporting should focus on presenting material information in a concise and understandable manner, enabling stakeholders to easily navigate and comprehend key disclosures. This ensures stakeholders can make informed and effective decisions.
How to use the publication
- First time users
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To make the most of these example financial statements, given Australia’s close alignment to IFRS Accounting Standards, they have been divided into two sections:
- Section one – Australian content: highlights disclosure requirements specific to Australia and common alternative presentations, tailored to meet Australian regulations.
- Section two – international content: features illustrative disclosures based on IFRS Accounting Standards, offering global best practices.
The example financial statements include clear cross-references between these sections, ensuring seamless navigation and making it simple to locate relevant information across both Australian-specific and international content.
Make the most of these example financial statements by visiting the following helpful pages within the document:
- What's new page: summary of revised accounting standards and regulations since the previous edition, ensuring you are aware of all the latest updates.
- Resources page: access a collection of guides and tools you might find useful in preparing your financial statements.
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Financial reporting resources
KPMG's financial reporting specialists
- Kim Heng
- Patricia Stebbens
- Zuzana Paulech
Frequently asked questions (FAQs)
Significant judgements and estimates should be clearly disclosed in the notes to the financial statements, providing detailed explanations of the assumptions and methodologies used. Companies should describe the nature of the judgements and estimates, their potential impact on the financial statements, and any changes in assumptions or methodologies from prior periods.
This disclosure helps stakeholders understand the areas of financial reporting that are subject to significant uncertainty and the potential effects on the company's financial position and performance. Examples include revenue recognition, impairment tests, and the fair value of financial instruments.
Investors and regulators need to understand how climate-related risks and opportunities have affected and will affect a company’s financial position and performance. They expect a company’s financial statements and sustainability reporting to reflect the risks and opportunities it is facing and the strategic decisions it has made in transitioning to a low-carbon economy. They also expect the different elements of a company’s reporting to provide a coherent, connected, and integrated picture.
Visit our Sustainability and Climate Change | Financial reporting centre to help identify and address climate change impacts on your financial statements.
Disclosure of non-IFRS financial information should have regard to the requirements of ASIC Regulatory Guide 230 (RG 230) Disclosing non-IFRS financial information. Non-IFRS financial information should be clearly labelled and distinguished from IFRS financial measures, ensuring that it is not misleading. Companies should provide a reconciliation between non-IFRS and IFRS measures, explaining the reasons for using non-IFRS information and how it provides useful insights for stakeholders. Additionally, any adjustments or exclusions should be consistently applied and disclosed, providing transparency and comparability.
The Australian Federal Government introduced new tax transparency requirements for multinational groups through recent legislative changes. The Treasury Laws Amendments (Making Multinationals Pay Their Fair Share – Integrity and Transparency) Act 2024 (the Act), passed on 27 March 2024 and received Royal Asset on 8 April 2024, requiring Australian public companies (listed and unlisted) to disclose information on each of their subsidiaries, including details on their tax residence, in their financial reports. The Act amends the Corporations Act 2001.
Minor clarifications to these disclosures were enacted subsequently through the Treasury Laws Amendment (Fairer for Families and Farmers and Other Measures) Act 2024 (the Amended Act) which was passed on 28 November 2024 and received Royal Assent on 10 December 2024. These updates apply to financial years commencing on or after 1 July 2024, i.e. annual financial reports ending 30 June 2025 and onwards.
The Amended Act clarified:
- Where an Australian tax resident is also a tax resident in another jurisdiction, they are required to disclose ALL foreign jurisdiction(s) tax residencies.
- ‘Australian resident’ is now defined for Partnership and Trust for the purpose of CEDS.
Read our Consolidated Entity Disclosure Statement (CEDS) reporting update for further information on the amendments and illustrative disclosure.
For these reporting periods, the applicable standard/amendment is:
- Lack of Exchangeability (Amendments to AASB 121)
If the company you are preparing financial statements for is applying this amendment for the first time in the current year, it is important to understand that the amendments:- identify when a currency is considered exchangeable into another currency or whether it lacks exchangeability
- provide guidance on estimating a spot exchange rate when a currency lacks exchangeability
- require new disclosures where it has been identified that a currency lacks exchangeability.
For a deeper understanding and implementation details, refer to our article: Lack of exchangeability: Financial reporting considerations.