Global site
Africa
Americas
Asia Pacific
Europe
Middle East

Services

Whether you’re legally obligated to undertake an audit or it is part of your best practice procedures or a milestone to pursue your strategic ambitions – no...

See Overview

Accounting Advisory
Our accounting advisory team help businesses meet their complex financial reporting requirements. The team can support in applying new financial reporting standards, IFRS/ US GAAP conversions, financial statement preparation, consolidation and more.

Business Process Outsourcing

Our business process outsourcing team can provide accounting and payroll services to help you reduce costs, improve efficiencies and, in many cases, ensure...

See Overview

Payroll
Our team can handle your payroll processing needs to help you reduce cost and saves time so that you can focus on your core competencies
Managed accounting and bookkeeping
Outsourcing the financial reporting function is a growing trend among middle market and startup companies, as it provides a cost-effective way to improve the finance and accounting function. Our team can help with financial statement preparation, consolidation and technical on-call advisory.

Business Risk

In today’s fast changing risk and regulatory landscape, it is imperative that organisations adapt to changes and make risk-informed strategic choices. At Grant...

See Overview

Corporate Finance

Our corporate finance team helps companies with capital raising, mergers and acquisitions, private equity, strategic joint ventures, special situations and...

See Overview

Corporate Secretarial Services

Our team brings in-depth knowledge of both business and regulatory environment to ensure compliance with regulatory requirements, and to advise on corporate...

See Overview

CFO Services

Our CFO services team helps CFOs in defining business strategy, mitigating risks and mentoring the leadership.

See Overview

Accounting Advisory
Our team helps companies keep up with changes to international and domestic financial reporting standards so that they have the right accounting policies and operating models to prevent unexpected surprises.
Crypto Accounting Advisory Service
Our team can help you explore appropriate accounting treatment for accounting for holdings in cryptocurrencies, issuance of cryptocurrencies and other crypto/blockchain related accounting issues.
ESG Reporting and Accounting
As part of our ESG and Sustainability Services, our team will work with you on various aspects of ESG accounting and ESG reporting so that your business can be pursue a sustainable future.
Expected Credit Loss
Our team of ECL modelling specialists combine help clients implement provisioning methodology and processes which are right for them.
Managed Accounting and Bookkeeping Services
Outsourcing the financial reporting function is a growing trend among middle market and startup companies, as it provides a cost-effective way to improve the finance and accounting function. Our team can help with financial statement preparation, consolidation and technical on-call advisory.

Deals Advisory

Whether you’re buying or selling, refinancing or raising money through the capital markets, our team comes in to help you conduct thorough due diligence on the...

See Overview

Business Tax Advisory
Our business tax team can help you navigate the international tax landscape, grow through mergers and acquisitions, or plan an exit strategy.
Corporate Finance
Our corporate finance team helps companies with capital raising, mergers and acquisitions, private equity, strategic joint ventures, special situations and more.
Financial Due Diligence
From exploring the strategic options available to businesses and shareholders through to advising and project managing the chosen solution, our team provide a truly integrated offering
Valuations
Our valuation specialists blend technical expertise with a pragmatic outlook to deliver support in financial reporting, transactions, restructuring, and disputes.

Related insights:

Mergers & Acquisitions Reducing risk in cross-border transactions

Cross-border merger and acquisition opportunities are increasing as healthy company financials in many economies drive an appetite for deals.

15 Jan 2018

ESG and Sustainability Services

Our environmental, social and governance (ESG) and sustainability team provide end-to-end solutions that help organisations no matter where they are on their...

See Overview

Forensic Advisory

Investigations can range from complex, multi-jurisdictional assignments to the investigation of alleged employee fraud and due diligence of third parties. We...

See Overview

Restructuring and Insolvency

We help companies identify and resolve issues affecting profitability, protect enterprise value and facilitate a full recovery where possible.

See Overview

Tax

We use a combination of reason and instinct based on our experience and local insights as we work with you to develop strategies that help you to understand...

See Overview

Business Tax Advisory
Our business tax team can help you navigate the international tax landscape, grow through mergers and acquisitions, or plan an exit strategy.
Corporate Tax Compliance
Our corporate tax teams prepare corporate tax files and ruling requests, support you with deferrals, accounting procedures and realise tax benefits.
Tax Governance
Our Tax Governance Services are designed to assist organisations in establishing effective tax governance practices, enabling them to navigate the intricate tax environment with confidence.
Goods and Services Tax
Our GST team supports organisations throughout the entire business life-cycle. We can help with GST registration, compliance, risk management, scheme renewals, transaction advisory and more.
Transfer Pricing
Our Transfer Pricing team advises clients on their transfer pricing matters on and end-to-end basis right from the designing of policies, to assistance with annual compliance and assistance with defense against the claims of competing tax authorities.
Employer Solutions
Our Employer Solutions team helps businesses remain compliant in Singapore as well as globally as a result of their employees' movements. From running local payroll, to implementing a global equity reward scheme or even advising on the structure of employees’ cross-border travel.
Private Client Services
Our private client services team provides a comprehensive cross section of advisory services to high net worth individuals and corporate executives, allowing such individuals to concentrate on their business interests.

Valuations

Measuring value in financial reporting, legal disputes or looking at acquisitions or investments brings a high level of clarity and confidence to business...

See Overview

Careers

Careers at Grant Thornton

See Overview

Students and Graduates

See Overview

Our culture

Learn more about our culture and how we enable you to thrive

See Overview

Welfare and benefits
We believe that a thriving team is one where each individual feels valued, fulfilled, and empowered to achieve their best. Our welfare and benefits aim to care for your wellbeing both professionally and personally.
Career development
We want to help our people learn and grow in the right direction. We seek to provide each individual with the right opportunities and support to enable them to achieve their best.

Experienced hires

See Overview

Current vacancies

See Overview

IFRS

Example Financial Statements 2021

09 Nov 20212 min read

The preparation of financial statements in accordance with International Financial Reporting Standards (IFRS) is challenging. Each year, new Standards and amendments are published by the International Accounting Standards Board (IASB) with the potential to significantly impact the presentation of a complete set of financial statements.

The member firms of Grant Thornton International Ltd (GTIL) have extensive expertise in the application of IFRS. GTIL, through its IFRS Team, develops general guidance that supports its member firms’ commitment to high quality, consistent application of IFRS and is therefore pleased to share our insights by publishing ‘IFRS Example Consolidated Financial Statements 2021’ (Example Financial Statements).

These Example Financial Statements are based on the activities and results of Illustrative Corporation and its subsidiaries (the Group) – a fictional consulting, service and retail entity that has been preparing IFRS consolidated financial statements for several years. The form and content of IFRS financial statements will always depend on the activities and transactions of the reporting entity. Our objective in preparing these Example Financial Statements is to illustrate one possible approach to financial reporting by an entity engaging in transactions that are typical across a range of non-specialist sectors. However, as with any publication of this type, these example financial statements cannot envisage every possible transaction and therefore cannot be regarded as comprehensive. Management as defined by the IASB, is ultimately responsible for the fair presentation of financial statements and therefore they may find other approaches more appropriate for its specific circumstances.

These Example Financial Statements have been updated to reflect changes in IFRS that are effective for the year ending 31 December 2021. No account has been taken of any new developments after 31 October 2021.