Fremtidens præsentation af finansiel rapportering: Ifølge IASB

Andreas Mailand

Student thesis: Master thesis


The subject of this master's thesis is the IFRS Staff Draft on Financial Statement Presentation published by IASB in July 2010, and how it affects the level of information presented in financial statements of Danish listed companies. In order to determine the affect on the level of information, I analysed the background for publication of the Staff Draft. It was published together with FASB as part of a joint convergent project, and is aiming at extinguishing the differences in presentation between the two sets of standards. By doing so, it would increase the general level of value of the information presented in financial statements. Prior do publishing the Staff Draft, the IASB they published a discussion paper, detailing the ideas and intentions of the financial statement presentation project. This was received with mixed feedback on which the Staff Draft was based. To measure the value, or rather the change in value, I determined, that the intended primary users of the Staff Draft are investors and analysts, which are the group of users of financial statements, which has the most comprehensive need for financial information, for their analysis of present or potential investments. The financial statements are, prepared in order enable them to predict future cash flows to fulfil that need. Based upon this, I determined that the appropriate measure of information value, were the valuation models these predictions are used for. I identified the discounted cash flow model and the residual income model for that purpose. The analysis of information value was therefore measured, against the information that goes into these models. I therefore completed an analysis of the basic inputs of the models, and determined that the primary financial statements are to be reformulated, for the purpose these valuations models, and determined the appropriate changes generally needed to do so. Then I prepared an analysis of the paragraphs of the Staff Draft, and how they would impact the financial statements compared to present regulation. I discovered that, significant changes would come from the proposal, which would significantly change the face of the financial statements, key figures and subtotals generally used. I applied this analysis to the published financial statements of the Carlsberg Group for 2010, to gain a practical understanding of the impact of the content of the Staff Draft. My findings were that, as expected the financial statements, and especially the balance sheet and the statement of cash flows, will change quite substantially. My overall conclusion is that, the level of information will overall be increased, with the application of the Staff Draft. Especially the mandatory direct cash flow will increase the value of the information, and particularly to the benefit of investors that, apply the cash flow model in their analysis. However, it also distorts the overview, due to the increased number of items, and the change of balance sheet presentation.

EducationsMSc in Auditing, (Graduate Programme) Final Thesis
Publication date2011
Number of pages112