Accounting Alerts

Telling Your Story: Making financial statements an effective communication tool

Financial Reporting Standards

This Accounting Alert is issued to provide guidance relating to the preparation of financial statements as an effective communication tool. 

 The average length of financial statements prepared under International Financial Reporting Standards (IFRS) has been growing for many years, as new Standards are issued and more disclosure requirements are added. The result - cluttered financial statements in which the important information is hard to find. As a result, many companies are taking a fresh look at their financial statements and their process for preparing them; by refocusing their financial statements as a communication tool without losing sight of the need to comply with technical requirements.

Grant Thornton International Ltd has published Telling your story: Making your financial statements an effective communication tool to help entities prepare financial statements as effective communication tool. This publication explains and illustrates four best practices in the preparation and presentation of financial statements.

See attached document for the details of this publication.

P&A Accounting Alerts are issued to keep our clients updated with the latest developments in financial reporting. These are not intended to be a substitute for professional advise. If you would like to unsubscribe, or add a colleague or a friend to our mailing list, please let us know by return e-mail. For inquiries and suggestions on how the Accounting Alert may be even more useful to you, e-mail Mabel.Comedia@ph.gt.com or Jerald.Sanchez@ph.gt.com or call 988-2288.