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Trial balance to financial statements template – trial balance mapped through the IFRS 18 categories into four statements

Trial balance to IFRS 18 financial statements template

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A free Excel template that turns a pre-closing trial balance for two years into the four primary financial statements of a single company under IFRS 18 Presentation and Disclosure in Financial Statements. Map each account to one of 70 IFRS 18 line items, post any adjustments, and the workbook presents the statements, builds the statement of cash flows from operating profit and runs 32 checks. It comes with a fully worked example for a fictitious Irish food manufacturer.

What it does

  • Maps both years' trial balances to 70 line items, with year-end and audit adjustments and reclassifications on their own tab and a lead schedule showing every line before and after adjustments.

  • Presents profit or loss and OCI in the operating, investing, financing and income taxes categories, with the required subtotals: operating profit, and profit before financing and income taxes. Expenses are presented by nature.

  • Prepares the statement of financial position (with goodwill shown separately), the statement of changes in equity for both years, including transfers between reserves, and the statement of cash flows by the indirect method from operating profit.

  • Classifies interest and dividends paid as financing and interest and dividends received as investing (IAS 7 as amended by IFRS 18), and reconciles cash and cash equivalents, including overdrafts, to the statement of financial position.

  • Rounds to units or thousands with every total casting, and runs 32 checks, each with its fix: mapping, balances, roll-forwards, deferred tax, signs and the cash reconciliation.

What you get

  • One Excel workbook (.xlsx) with a Cover, Instructions, the line items reference, the ten blank tabs and the same ten tabs completed as a worked example: Kilbrack Foods Ltd in its first IFRS 18 year, with audit adjustments, a land revaluation, a new lease, a joint venture, a new loan and a share issue.

  • Bordered input cells, protected formulas and a status line on every tab.

  • Works in Microsoft Excel 2010 or later (Windows or Mac). No macros.

Scope

The financial statements of a single company in one currency whose main business activities are not investing in assets or providing finance to customers. It presents the balances you enter: it does not make recognition or measurement judgements, prepare the notes or the IFRS 18 transition disclosures, replace a disclosure review, or consolidate. Not covered: discontinued operations, defined benefit pensions, hedge accounting, foreign operations, non-controlling interests and earnings per share.

Need the detail behind the cash flows? See the Cash flow statement template. Moving from IAS 1? Use the IFRS 18 Transition Pack.

Designed for small and medium-sized businesses and their accountants reporting under IFRS Accounting Standards. It is a working aid: it does not replace the Standards or professional judgement, and its scope and limitations are set out in the Instructions tab.

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