Ipo Combined Financial Statements

Ipo combined financial statements

How to prepare combined and carve-out FSs

IFRS does not include specific guidance on preparing combined financial statements. Relevant information for preparing combined financial statements can be found in the Conceptual Framework and other IFRS standards.

Ipo combined financial statements

Therefore, it is commonly accepted that in some circumstances, combined financial statements may claim to be prepared in accordance with IFRS.

There is no set method that results in combined financial statements prepared in accordance with IFRS. However, there is a common set of questions that must be asked; the answers will determine whether IFRS combined financial statements can be prepared and how that might be accomplished, as well as what disclosures might be required.

The five key steps below set out the process and the considerations that are commonly encountered when preparing combined financial statements.

  • Step 1: Determine the purpose of the combined financial statements and understand the relevant regulatory requirements
  • Step 2: Determine the new reporting entity
  • Step 3: Consider whether the combined financial statements comply with IFRS
  • Step 4: Deal with the practical issues of preparation
  • Step 5: Make clear disclosures

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QuickBooks Enterprise: Consolidate / Combine Financial Statements from multiple company files