The version of the model consolidated financial statements under IFRSs as adopted by the EU prepared by the Prague office of Deloitte is available on Deloitte’s website in both Czech and English.
This version which is available on Deloitte’s website should be used by the entities that prepare financial statements in compliance with IFRSs as adopted by the EU for the year ended 31 December 2019. The main difference between IFRSs issued by the IASB and IFRSs as adopted by the EU as of 31 December 2019 is in the fact that many amendments to the existing standards with an effective date from 1. 1 2020 and later have not been endorsed for use in the EU (and cannot be early adopted for the 31 December 2019 year-end financial statements).
These model financial statements illustrate the impact of the initial application of IFRS 16 Leases using a full retrospective approach. Appendix 2 illustrates the changes required on initial application using the cumulative catch-up approach.
These model financial statements do not illustrate the impact of the application of new and revised IFRS Standards that are not yet mandatorily effective on 1 January 2019.
The version of model consolidated financial statements under IFRS as issued by the IASB for the year ended 31 December 2019 is available on www.iasplus.com.