The first decade of this millennium is drawing to a close. It is a decade that has seen significant changes in financial reporting standards. Some of these have left financial reporting practitioners grappling with the interpretation and application of principles and practices that are required in the more complex standards. Coupling this with unprecedented turmoil in the world’s financial markets in the last few years, sustaining trust in corporate reporting has never been more crucial to businesses around the world.
Looking forward into the next decade is like gazing into a cloudy crystal ball. No one knows with certainty how the new wave of accounting standards coming our way in the next decade will impact the landscape of financial reporting. But the one thing for sure - there will be constant change to the reporting landscape. Managing these changes to enhance faithful, reliable and robust financial reporting is vital to creating and sustaining trust in the marketplace. Such trust is also a key success factor in building your business.
Our 2010 edition of “PricewaterhouseCoopers’ Illustrative Annual Report” has been developed to assist directors, audit committee members, management and preparers of financial statements to better understand and implement the new financial reporting changes in an effective and efficient manner. We hope to help you achieve high-quality financial reporting that complies with the various requirements of the Singapore Financial Reporting Standards, Singapore Companies Act and Singapore Exchange Listing Manual.
We trust that you will find this publication an excellent resource document to assist you in the preparation of your companies’ annual reports for the coming financial year-end. We also encourage you to consult your regular PricewaterhouseCoopers contact should you have any questions or comments regarding this publication or the implementation of the new accounting standards.
|2.||Table of contents (80kb)|
|3.||Publication Guide (75kb)|
|4.||Index to Illustrative Annual Report (320kb)|
|5.||Board of Directors (125kb)|
|6.||Corporate Governance Report (250kb)|
|7.||Statutory Report and Financial Statements|
|a. Directors' Report (145kb)|
|b. Statement by Directors (110kb)|
|c. Independent Auditors' Report (110kb)|
|d. Consolidated Statement of Comprehensive Income (125kb)|
|e. Balance Sheets - Group / Company (105kb)|
|f. Consolidated Statement of Changes in Equity (130kb)|
|g. Consolidated Statement of Cash Flows (105kb)|
|8.||Significant Accounting Policies (300kb)|
|9.||Notes to the Financial Statements (420kb)|
|10.||Additional Disclosure Requirements (140kb)|
|11.||Additional Illustrative Disclosures (120kb)|
|12.||Technical References (135kb)|
A Practical Guide to New Singapore Financial Reporting Standards for 2010
1. New and amended standards
2. New and amended interpretations
3. Standards issued globally but not yet issued in Singapore
4. Summary of key changes on Singapore FRS
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