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 our insights by publishing ‘IFRS Example Consolidated Financial Statements 2025' (Example Financial Statements).
These 2025 Example Financial Statements are based on the activities and results of Illustrative Corporation and its subsidiaries (‘the Group’ or the ‘Illustrative Corporation Group’) – a fictional consulting, service and retail entity that has been preparing IFRS consolidated financial statements for several years. The form and content of IFRS financial statements will always depend on the activities and transactions of the reporting entity.
In addition, we are pleased to share Appendix E to the Example Financial Statements - IFRS 18 ‘Presentation and Disclosure in Financial Statements’. This appendix presents a selection of extracts from the Example 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 year ended 31 December 2025. 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.
Example Consolidated Financial Statements 2025
Appendix E - IFRS 18 'Presentation and Disclosure in Financial Statements'
Our objective in preparing these Example Financial Statements is to illustrate financial reporting by an entity engaging in transactions that are typical across a range of non-specialist sectors. However, as with any publication of this type, these example financial statements cannot envisage every possible transaction and therefore cannot be regarded as comprehensive. Management, as defined by the IASB, is ultimately responsible for the fair presentation of financial statements and therefore they may find other approaches more appropriate for its specific circumstances.
These Example Financial Statements have been updated to reflect changes in IFRS that are effective for the year ending 31 December 2025. No account has been taken of any new developments after 31 August 2025.