Specimen accounts

Below are links to various sets of recently issued Australian specimen financial reports that can assist members with the preparation of their annual financial statements. Items on the list below are freely available for download. They have been prepared by the major accounting firms and are grouped by applicable financial year end. Other model financial statements come in published book form and are available for purchase, including Thomson Reuter's XYZ Model Financial Accounts and Pinnacle Financial Statements. More details of these can be found on our published model financial statements page.

30 June 2012

Deloitte: Model Financial Statements

The objective of this publication is to assist preparers to respond to the many changes to financial reporting requirements for the June 2012 reporting season. The requirements of new and revised accounting pronouncements that are illustrated in this publication include:

Related party disclosures
Significant events and transactions disclosures in interim financial reports
Clarification on financial instruments’ disclosures related to credit risk
Additional disclosures on transfer of financial assets
Clarification on customer loyalty program ‘award credits’
Some disclosure relief as a consequence of the Trans-Tasman convergence project.

KPMG: Example Public Company Limited

The Example Public Company Limited 30 June 2012 Annual Financial Report is for the reporting period between 31 December 2011 and 30 June 2012. It illustrates one possible format for annual financial statements, based on a fictitious multinational corporation involved in general business, which is not a first-time adopter of AASBs.

Grant Thornton Example Consolidated Financial Statements

These example consolidated financial statements are designed for first time IFRS adopters, updated for 2011 changes.

EY: Endeavour (International) Limited

Endeavour (International) Limited assists preparers with reporting for December 2011 and also 30 June 2012. This edition is a new format of the illustrative financial statements prepared in accordance with Australian Accounting Standards. It allows greater comparability with other companies being more closely aligned with Good Group, with the illustrative financial statements prepared in accordance with International Financial Reporting Standards.

PwC: Value Accounts Holdings

This illustrates the financial reporting disclosure requirements that apply under Australian Accounting Standards on issue at 15 January 2012. Supporting commentary is also provided. Value Accounts Holdings Limited is listed on the Australian Securities Exchange and is the parent entity in a consolidated entity. The illustrative financial reports include those relevant for annual and interim reporting purposes.

31 December 2011

Deloitte: Model Half Year Report

The objective of this publication is to assist preparers to respond to changes since June 2011, including the amendments made to AASB 134 'Interim Financial Reporting' as a result of AASB 2010-4 'Amendments to Australian Accounting Standards arising from the Annual Improvements Project', which may result in disclosure changes in the 31 December 2011 half-year reports.

KPMG: Example Public Company Limited (PDF)

The Example Public Company Limited 30 June 2012 Annual Financial Report is for the reporting period between 31 December 2011 and 30 June 2012. It illustrates one possible format for annual financial statements, based on a fictitious multinational corporation involved in general business, which is not a first-time adopter of AASBs.

Grant Thornton Example Financial Statements

Grant thornton has prepared a number of Example Financial Statements for the year ended 31 December 2011, which have been tailored to suit a number of different scenarios. They have also produced Example Interim Financial Statements for December 2011 all of which can be accessed on the above link.

EY: Endeavour (International) Limited (PDF)

Endeavour (International) Limited assists preparers with reporting for December 2011. This edition is a new format of the illustrative financial statements prepared in accordance with Australian Accounting Standards. It allows greater comparability with other companies being more closely aligned with Good Group, with the illustrative financial statements prepared in accordance with International Financial Reporting Standards.

30 June 2011

Deloitte: Model financial statements

The objective in this publication is to assist preparers to respond to the many changes to financial reporting requirements for the June 2011 reporting season. The requirements of new and revised accounting pronouncements that are illustrated in this publication include:

AASB 9 Financial Instruments
AASB 124 Related Party Disclosures
AASB 1048 Interpretation of Standards
AASB 1053 Application of Tiers of Australian Accounting Standards.

PwC: Value Accounts Holdings

This illustrates the financial reporting disclosure requirements that apply under Australian Accounting Standards on issue at 15 January 2011. Supporting commentary is also provided. Value Accounts Holdings Limited is listed on the Australian Securities Exchange and is the parent entity in a consolidated entity.

KPMG: Example Public Company Limited (PDF)

Example Public Company Limited 30 June 2011 Annual Financial Report illustrates one possible format for annual financial statements based on a fictitious multinational corporation involved in general business, which is not a first-time adopter of AASBs.

Grant Thornton: Example of Consolidated Financial Statements (PDF)

This publication illustrates one possible approach to financial reporting by an entity engaging in transactions that are 'typical' across a range of non-specialist sectors.

EY: Endeavour (International) Limited (PDF)

Endeavour (International) Limited illustrates the consolidated financial report of a fictitious, publicly listed Australian entity, with 31 December 2010 and 30 June 2011 year ends. It attempts to show the most common disclosure requirements for industrial companies; however, it should not be regraded as a comprehensive checklist.

EY: Endeavour (RDR) Proprietary Limited (PDF)

Endeavour (RDR) Proprietary Limited illustrates the consolidated financial reports of a fictitious, publicly listed Australia entity, with 30 June 2011 year ends prepared in accordance of Australia's Tier 2 Reduced Disclosure Requirements.

31 December 2010

Deloitte: Model financial report (PDF)

Deloitte's updated guide to best practice disclosures in half-year reports for 31 December 2010 or later periods.

EY: Endeavour (International) Limited (PDF)

Grant Thornton: Example Consolidated Financial Statements (PDF)

These Example Financial Statements have been reviewed and updated to reflect changes in International Financial Reporting Standards (IFRS) that are effective for the year ending 31 December 2010.

30 June 2010

Deloitte: Illustrative annual reports

Complete illustrative disclosures for companies with annual reporting obligations at 30 June 2010.

Grant Thornton: Example Consolidated Financial Statements (PDF)

These Example Financial Statements have been reviewed and udpated to reflect changes in International Financial Reporting Standards (IFRS) that are effective for the half year ended 30 June 2010.

Reduced disclosure requirements

PwC: Value Accounts: Reduced Disclosure 2011 (PDF)

The purpose of the illustrative financial report is to highlight disclosure requirements and provide sample disclosures. The disclosures are based on those made by VALUE ACCOUNTS Holdings Limited, but shading is used to indicate the disclosures that can be removed if an entity decides to early adopt the reduced disclosure regime. Entities will need to adapt the disclosures to their circumstances. Entities may adopt alternative disclosures, wording and forms of presentation as long as the specific disclosure requirements prescribed in the accounting and reporting pronouncements are met.

Deloitte: Model financial statements (PDF)

The Australian Accounting Standards Board's (AASB) Reduced Disclosure Regime (RDR) provides an opportunity for for-profit reporting entities without 'public accountability’ to significantly reduce the disclosure burden of preparing a general purpose financial report. This publication assists in identifying disclosures in annual financial report that are no longer required.

KPMG: Example Proprietary (Reduced Disclosure Regime) Limited (PDF)

This publication highlights the disclosures that may be removed under the Tier 2 requirements. The ‘Purpose and Basis’ section provides additional background information about the reduced disclosure regime and details about how to use this publication to assist in the transition.

Article last updated 11 May 2012

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