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Ernst & Young International GAAP® Illustrative Financial Statements

Ernst & Young, LLP | Reprinted with Permission | August 31, 2007

Robert L. Bunting

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These illustrative financial statements are not intended to satisfy country or stock market regulations in any given jurisdiction and may have to be altered to meet such requirements. These financial statements are illustrative only, and do not attempt to show all possible accounting and disclosure requirements.

IFRS references are shown on the right hand side of each page of the financial statements indicating the specific IFRS paragraph that outlines the actual accounting treatment or disclosure adopted for that particular line item or block of narrative.

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Table of Contents

  • Introduction
  • General Information
  • Independent auditors’ report to the shareholders of Good Group (International) Limited
  • Consolidated income statement
  • Consolidated balance sheet
  • Consolidated statement of changes in equity
  • Consolidated cash flow statement
  • Notes to the consolidated financial statements
  • 1. Corporate information
  • 2.1 Basis of preparation
  • 2.2 Changes in accounting policy and disclosures
  • 2.3 Significant accounting judgments, estimates and assumptions
  • 2.4 Summary of significant accounting policies
  • 2.5 Future changes in accounting policies
  • 3. Business combinations and acquisition of minority interests
  • 4. Interest in a joint venture
  • 5. Segment information
  • 6. Other revenues and expenses
  • 7. Income tax
  • 8. Discontinued operation
  • 9. Earnings per share
  • 10. Dividends paid and proposed
  • 11. Property, plant and equipment
  • 12. Investment properties
  • 13. Intangible assets
  • 14. Investment in an associate
  • 15. Impairment testing of goodwill and intangibles with indefinite lives
  • 16. Available-for-sale investments
  • 17. Other financial assets (non-current)
  • 18. Share-based payment plans
  • 19. Pensions and other post-employment benefit plans
  • 20. Inventories
  • 21. Trade and other receivables (current)
  • 22. Cash and short-term deposits
  • 23. Issued capital and reserves
  • 24. Interest-bearing loans and borrowings
  • 25. Provisions.
  • 26. Government grants
  • 27. Trade and other payables (current)
  • 28. Other financial liabilities
  • 29. Commitments and contingencies
  • 30. Related party disclosures
  • 31. Financial risk management objectives and policies
  • 32. Financial instruments
  • 33. Events after the balance sheet date
  • Appendix 1 – Consolidated Income statement (example of expenses disclosed by nature)
  • Appendix 2 – Consolidated Cash flow statement – Direct method
  • Appendix 3 – Segment Reporting under IAS 14 Segment Reporting
  • Appendix 4 – Illustrative disclosures for an entity that applied IFRS 1 when it first adopted IFRS
  • Appendix 5 – Illustrative disclosures for a first-time adopter of IFRS
  • Appendix 6 – XBRL: The Exchange Of Interactive Financial Reporting Data
  • Index

Source: Ernst & Young, LLP. Reprinted with Permission.

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