Illustrative Financial Statements

This publication is an illustrative financial statements (IFS) of a Singapore-incorporated company, ABC Pte. Ltd., prepared in accordance with: Financial Reporting Standards in Singapore (FRSs) & Singapore Companies Act, Chapter 50 (CA).

About this publication:

This publication is an illustrative financial statements (IFS) of a Singapore-incorporated company, ABC Pte. Ltd., prepared in accordance with:

  • Financial Reporting Standards in Singapore (FRSs)
  • Singapore Companies Act, Chapter 50 (CA)

The IFS serve to provide an illustration of the annual financial statements of a company whose principal activities are those of trading. The disclosures contained in these IFS are made based on a hypothetical entity and certain assumptions have been made about the applicability of the disclosures required by FRSs.

The IFS are designed to capture a wide set of circumstances and transactions, and in enhancing the relevance of the IFS, all minimum disclosure requirements of FRSs are complied with, generally without considering materiality. Also, since the IFS are prepared based on a fictitious entity, assessing materiality is not possible in some circumstances. This set of IFS is a helpful enabler for entities preparing financial statements under FRSs, but its illustrative nature must be appreciated.

The names of people and entities included as illustrations are fictitious. Any resemblance to any person or business is purely coincidental. 

Illustrative Financial Statements 2020

Illustrative Financial Statements 2019   ( Addendum to Illustrative Financial Statements 2019

Illustrative Financial Statements 2018

Illustrative Financial Statements 2017

Illustrative Financial Statements 2016

Illustrative Financial Statements 2015

Illustrative Financial Statements 2014


Important notices:

  • This publication is intended as an illustrative guide rather than a definitive statement.
  • While the IFS contain most of the usual disclosures typically found in the financial statements of entities whose activities include trading, the disclosures and help tips in this publication are not meant to be exhaustive. Reference should be made to the relevant standards and regulations for specific disclosure requirements.
  • This publication should not be relied upon as a substitute for seeking professional advice concerning the appropriate accounting treatment for specific individual situations or ensuring compliance with the FRSs and/or CA.