Manual of accounting accounting - PwC

Manual of accounting

Interim ?nancial reporting 2012

This ��Manual of accounting�� contains PwC��s comprehensive guidance on preparing

interim ?nancial reports under IAS 34, ��Interim ?nancial reporting��. It includes a

detailed commentary on the requirements of IAS 34 together with an illustrative

set of condensed interim ?nancial statements, including additional guidance in

��commentary�� boxes on how to present this information. Also included in the book

is a checklist of the minimum disclosures required by IAS 34.

Also available in the Manual of accounting series:

Manual of accounting �C IFRS 2012

Global guide to IFRS providing comprehensive practical guidance on how to prepare

?nancial statements in accordance with IFRS.

Manual of accounting �C Financial instruments 2012

Clear and practical guidance on the complex rules of ?nancial instruments accounting,

including worked examples and extracts from company ?nancial statements.

Illustrative IFRS consolidated ?nancial statements for 2011 year ends

Illustrative set of consolidated ?nancial statements for an existing preparer of IFRS,

including appendices with disclosures for ?rst-time adopters, and for IFRS 9.

For other PwC guidance on IFRS, visit ifrs

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Manual of accounting �C Interim financial

reporting 2012

Global Accounting Consulting Services

PricewaterhouseCoopers LLP, Chartered Accountants

This book has been prepared for general guidance on matters of interest only, and does not

constitute professional advice. You should not act upon the information contained in this book

without obtaining specific professional advice. Accordingly, to the extent permitted by law,

PricewaterhouseCoopers LLP (and its members, employees and agents) and publisher accept no

liability, and disclaim all responsibility, for the consequences of you or anyone else acting, or

refraining from acting, in reliance on the information contained in this document or for any

decision based on it, or for any consequential, special or similar damages even if advised of the

possibility of such damages.

ISBN 9781780431239

Printed in Great Britain.

British Library Cataloguing-in-Publication Data.

A catalogue record for this book is available from the British Library.

# 2012 PricewaterhouseCoopers

No part of this publication may be reproduced, stored in any system, or transmitted in any form or

by any means, electronic, mechanical, photocopying, recording, or otherwise without the prior

permission of PricewaterhouseCoopers LLP.

Contents of illustrative financial statements

Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Objective and scope . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

What is new in the illustrative condensed interim financial statements? . . . . . . .

Top interim reporting pitfalls . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Management commentary guidance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

PwC commentary �C Condensed interim financial statements . . . . . . . . . . . . . . . . . . . . .

Page

2003

2003

2003

2004

2004

2006

Illustrative condensed interim financial statements for the period

ended 30 June 2012 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2009

Interim income statement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2009

Interim statement of comprehensive income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2010

Interim balance sheet . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2011

Interim statement of changes in equity. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2012

Interim statement of cash flows. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2013

Notes to the condensed interim financial statements . . . . . . . . . . . . . . . . . . . . . . .

1. General information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

2. Basis of preparation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

3. Accounting policies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

4. Estimates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

5. Financial risk management . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

6. Seasonality of operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

7. Operating segment information. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

8. Discontinued operations and disposal groups . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

9. Business combinations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

10. Investment in associates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

11. Exceptional items . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

12. Income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

13. Dividends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

14. Property, plant and equipment and other intangible assets . . . . . . . . . . . . . . . . .

15. Goodwill . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

16. Share capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

17. Borrowings and loans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

18. Retirement benefit obligations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

19. Provisions for other liabilities and charges . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

20. Contingent liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

21. Related-party transactions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

22. Events occurring after the reporting period. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

PwC commentary �C Notes to the condensed interim financial statements . . . . .

2014

2014

2014

2014

2015

2015

2017

2017

2019

2021

2023

2024

2024

2024

2025

2025

2026

2026

2027

2028

2029

2029

2030

2030

Auditor��s review report �C ISRE 2410 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2033

Appendix I �C Alternative presentation of income statement �C by nature

of expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2034

PwC Manual of accounting �C Interim financial reporting 2012 2001

Contents of illustrative financial statements

Appendix II �C IFRS 9, ��Financial instruments�� (2010). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2035

Appendix III �C IFRS 11, ��Joint arrangements�� . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2038

Appendix IV �C IFRS 13, ��Fair value measurement��. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2042

2002 PwC Manual of accounting �C Interim financial reporting 2012

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