Pro forma financial statements

IAS 1 covers the form and content of financial statements. The main
components are:
– Statement of financial position
– Statement of profit or loss and other comprehensive income
– Statement of changes in equity
– Statement of cash flows
– Notes to the financial statements
 Statement of financial position
XYZ GROUP – STATEMENT OF FINANCIAL POSITION AS AT 31
DECEMBER 20X2
20X2 20X1
$'000 $'000
ASSETS
Non-current assets
Property, plant and equipment X X
Goodwill X X
Other intangible assets X X
Investments in associates X X
Investments in equity instruments X X
X X
Current assets
Inventories X X
Trade receivables X X
Other current assets X X
Cash and cash equivalents X X
X X
Total assets X X
EQUITY AND LIABILITIES
Equity
Share capital X X
Retained earnings X X
Other components of equity X X
Total equity X X

Non-current liabilities
Long-term borrowings X X
Deferred tax X X
Long-term provisions X X
Total non-current liabilities X X
Current liabilities
Trade and other payables X X
Short term borrowings X X
Current portions of long-term borrowings X X
Current tax payable X X
Short-term provisions X X
Total current liabilities X X
Total liabilities X X
Total equity and liabilities X X
 You’re a Champion!
Thanks for staying with us. You have finished this task.
XYZ GROUP – STATEMENT OF PROFIT OR LOSS AND OTHER
COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 20X2
(illustrating presentation in one statement)
20X2 20X1
$'000 $'000
Revenue X X
Cost of sales (X) (X)
Gross profit X X
Other income X X
Distribution costs (X) (X)
Administrative expenses (X) (X)
Other expenses (X) (X)
Finance costs (X) (X)
Profit before tax X X
Income tax expense (X) (X)
PROFIT FOR THE YEAR X X
Other comprehensive income:
Gains/(losses) on property revaluations X (X)
Investments in equity instruments (X) X
Income tax relating to items of other comprehensive income (X) (X)
Other comprehensive income for the year, net of tax X X
TOTAL COMPREHENSIVE INCOME FOR THE YEAR X X
XYZ GROUP – STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31
DECEMBER 20X2
Share Retained Revaluation Total
capital earnings surplus equity
$'000 $'000 $'000 $'000
Balance at 1 January 20X2 X X X X
Prior period adjustment* – (X) – (X)
Restated balance X X X X
Changes in equity for 20X2
Issue of share capital X – – X
Dividends – (X) – (X)
Total comprehensive income
for the year – X X X
Transfer to retained earnings – X (X) –
Balance at 31 December 20X2 X X X X
XYZ GROUP – STATEMENT OF PROFIT OR LOSS FOR THE
YEAR ENDED 31 DECEMBER 20X2
(illustrating presentation in two statements)
20X2 20X1
$'000 $'000
Revenue X X
Cost of sales (X) (X)
Gross profit X X
Other income X X
Distribution costs (X) (X)
Administrative expenses (X) (X)
Other expenses (X) (X)
Finance costs (X) (X)
Profit before tax X X
Income tax expense (X) (X)
PROFIT FOR THE YEAR X X
XYZ GROUP – STATEMENT OF PROFIT OR LOSS AND OTHER
COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 20X2
20X2 20X1
$'000 $'000
Profit for the year X X
Other comprehensive income:
Gains/(losses) on property revaluations X (X)
Investments in equity instruments (X) X
Income tax relating to items of other comprehensive income (X) (X)
Other comprehensive income for the year, net of tax X X
TOTAL COMPREHENSIVE INCOME FOR THE YEAR X X
 You’re a Champion!
Thanks for staying with us. You have finished this task.