Insights into MFRS 8

Disclosures for interim financial statements

06 Apr 20231 min read

Understanding how an entity is performing from management’s point of view during an interim reporting period can be just as important as the annual disclosures that are required when following MFRS 8 ‘Operating Segments’– which sets out the minimum disclosure requirements for annual reporting periods.

Our ‘Insights into MFRS 8’ series is designed to illustrate how MFRS 8 should be applied and it provides guidance and insight in some problematic areas. We also include several examples illustrating the Standard’s requirements. This article sets out example disclosures of segment information in a set of condensed interim financial statements.

This article sets out illustrative disclosures required under MFRS 8 and MFRS 134 ‘Interim Financial Reporting’ for a fictional entity, Illustrative Corporation Ltd and its subsidiaries (the Group) that presents half-yearly condensed interim financial statements. The form and content of MFRS financial statements of course depend on the reporting entity’s activities and transactions. MFRS 8’s management approach results in an entity’s interim disclosures being as unique as any disclosures that would be made at the end of any annual reporting period. We have illustrated in this article the minimum disclosures required taking into consideration both MFRS 8 and MFRS 134.

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We hope you find the information in this article helpful in giving you some insight into MFRS 8. If you would like to discuss any of the points raised, please do not hesitate to contact us.

Disclosures for interim financial statements

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