Ended 31 December 2019 - Deloitte

International GAAP Holdings Limited Model financial statements for the year ended 31 December 2019

International GAAP Holdings Limited | Contents

Contents

About this publication Model financial statements for the year ended 31 December 2019 Appendix 1 - Prior year adjustment Appendix 2 - IFRS 16 Leases ? Transition using the cumulative catch-up approach

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International GAAP Holdings Limited | About this publication

About this publication

These International GAAP Holdings Limited model financial statements illustrate the presentation and disclosure requirements of IFRSs for the year ended 31 December 2019 by an entity that is not a first-time adopter of IFRSs. They comprise consolidated financial statements that illustrate the impact of the application of IFRSs that are mandatorily effective for the annual period beginning on 1 January 2019. The model financial statements illustrate the impact of the application of the amendments to IFRS Standards that were issued on or before 15 September 2019 and are mandatorily effective for the annual period beginning on 1 January 2019. Accordingly, the model financial statements do not illustrate the impact of the application of new and revised IFRS Standards that are not yet mandatorily effective on 1 January 2019. The International GAAP Holdings Limited model financial statements however, do not illustrate all the presentation and disclosure requirements specific to annual reports prepared in Australia. Therefore, we have developed the Australian Financial Reporting Guide to assist users to use these model financial statements in the preparation of general purpose financial reports in Australia in accordance with: ? Provisions of the Corporations Act 2001 ? Accounting Standards and Interpretations issued by the Australian Accounting Standards Board ? Other requirements and guidelines current as at the date of issue, including Australian Securities Exchange (ASX)

Listing Rules, Australian Securities and Investments Commission (ASIC) Class Orders/Corporations Instruments, Regulatory Guides and Media Releases.

This International GAAP Holdings Limited model financial report includes disclosures that apply to Tier 1 general purpose financial statements. It is intended to be read in conjunction with the Australian financial reporting guide, which is designed to `bring it all together' so that you can understand reporting requirements, ensure compliance and develop your own reporting in line with best practice. The Guide is available at au/models.

See section 9 Using the illustrative financial statements in the Guide for how to use these Deloitte model financial statements in conjunction with the Guide. This section of the Guide provides a breakdown of the content of a typical general purpose financial report and where (i.e. in section 10 Illustrative disclosures of the Guide or in these model financial statements) illustrative disclosures relevant to Australian entities can be located for each requirement. In some instances, the illustrative disclosures in section 10 of the Guide replace the illustrative disclosures in these model financial statements.

Limitations This illustration is not designed to meet specific needs of a first-time adopter of Australian Accounting Standards, notfor-profit entities, specialised industries (e.g. life insurance companies, credit unions, investment entities as defined in IFRS 10 etc.) or the specific information needs of any particular special purpose users. Rather, it is intended to illustrate the minimum information to be disclosed in the annual report of a company that is a reporting entity in order to satisfy the reporting requirements of the Corporations Act 2001.

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International GAAP Holdings Limited | About this publication

Basis of preparation Accounting policy choices For the purposes of presenting the statements of profit or loss and other comprehensive income and cash flows, the alternatives allowed under IFRS Standards for those statements have been illustrated. Preparers should select the alternatives most appropriate to their circumstances and apply the chosen presentation method consistently. Showing `nil' amounts In these model financial statements, line items have been included that are not applicable to International GA AP Holdings Limited to illustrate items that are commonly encountered in practice. This does not mean that we have illustrated all possible disclosures. Nor should it be taken to mean that entities are required to display such line items in practice, especially in light of the amendments to IAS 1 under the Disclosure Initiative which became effective in 2016. Assumptions As this model does not cover all situations that may be encountered in practice, knowledge of the disclosure provisions of the Corporations Act 2001, Accounting Standards and Interpretations are prerequisites for the preparation of annual reports. Source references References to the relevant requirements are provided in the left hand column of each page of this illustration. Where doubt exists as to the appropriate treatment, examination of the source of the disclosure requirement is recommended.

Understanding source references in these model financial statements The source references included in this model financial report generally refer to the international versions of pronouncements, rather than their Australian equivalents. Accordingly: ? References to "IFRS X" should instead be read as a reference to the Australian equivalent "AASB X" ? References to "IAS X" should instead be read as a reference to the Australian equivalent "AASB 10X" (where X is

less than 10) or "AASB 1X" (otherwise) ? References to "IFRIC X" should instead be read as a reference to the Australian equivalent "Interpretation X" ? References to "SIC X" should instead be read as a reference to the Australian equivalent "Interpretation 10X"

(where X is less than 10) or "Interpretation 1X" (otherwise)

Tier 1 and Tier 2 reports Entities preparing Tier 2 GPFS ? Reduced Disclosure Requirements (RDR) are exempt from some of the disclosure requirements set out in Accounting Standards. The Accounting Standards set out disclosure requirements from which Tier 2 entities are exempt by shading the exempted requirements and adding special `RDR' paragraphs. More information about Tier 2 (RDR) reporting can be found in section 5.3.3 of the Australian Financial Reporting Guide (the `Guide'). This International GAAP Holdings Limited model financial report includes disclosures that apply to Tier 1 general purpose financial statements.

The illustrative disclosures in this publication and the Australian Financial Reporting Guide which are not applicable to Tier 2 general purpose financial statements have been shaded in grey. If an entity applying Tier 2 (RDR) chooses to present additional disclosures, they must be prepared in accordance with the relevant Accounting Standards.

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International GAAP Holdings Limited

ACN 123 456 789

Annual report for the financial year ended 31 December 2019

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