Example Interim Condensed Consolidated Financial Statements 2026
IFRS
By: Sarah Carroll
30 Apr 20261 min read
The preparation of financial statements in accordance with International Financial Reporting Standards (IFRS) is challenging. 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 these insights.
The Interim Financial Statements illustrate a six-month accounting period beginning on 1 January 2026. They are based on the activities and results of Illustrative Corporation Ltd and its subsidiaries (‘the Group’) – a fictional consulting, service and retail entity that has been preparing IFRS financial statements for several years. The Group produces half-yearly interim financial statements in accordance with IAS 34 ‘Interim Financial Reporting’ at 30 June 2026.
FRS 18 ‘Presentation and Disclosure in Financial Statements’
In addition, we are pleased to share Appendix B to the Example Financial Statements - IFRS 18 ‘Presentation and Disclosure in Financial Statements’. This appendix presents a selection of extracts from the Example Interim Condensed Consolidated Financial Statements, including the consolidated statement of profit or loss and statement of cash flows, prepared as if the Group had (early) adopted IFRS 18 in the interim period ended 30 June 2026. It also includes illustrative transition disclosures and illustrates the new disclosures about management-defined performance measures and disclosures of specified expenses by nature required by IFRS 18.
Contact us
We hope you find the information helpful in giving you some detail into preparing IFRS Example Interim Consolidated Financial Statements. If you would like to discuss any of the points raised, please speak to your usual Grant Thornton contact or your local member firm.
Authors
-
Sarah Carroll
Sarah is the global head of the IFRS and corporate reporting team focussing on the consistent application of both International Financial Reporting Standards (IFRS) and sustainability reporting standards.View Profile