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This article applies to:

  • Product: ONESOURCE Statutory Reporting
  • Subject: Templates

Version 10 - April 2025 (template release)

Template release pack

This release focuses on legislative content changes for the period ending December 2024. The template is available on platforms 6.28.9259, 6.29.9459, 6.30.9574, 6.31.9627, and 6.32.9713.

Release notes

  • Period ended: December 2024
  • Update type: Major legislative updates
Overview
This template is a major release that includes major legislative updates and IFRS-alignment changes.
Key legislative updates:
These updates are effective for annual periods beginning January 2024 and include:
  • Amendments to IAS 12 Income Taxes: International Tax Reform - Pillar Two Model Rules
  • Amendments to IAS 1: Classification of Liabilities as Current or Non-current
  • Amendments to IFRS 16 Leases: Lease Liability in a Sale and Leaseback
  • Supplier Finance Arrangements - Amendments to IAS 7 and IFRS 7
  • Lack of Exchangeability – Amendments to IAS 21
  • Sale or Contribution of Assets between an Investor and its Associate or Joint Venture – Amendments to IFRS 10 and IAS 28
  • IFRS 18 – Presentation and Disclosure in Financial Statements
  • Classification and Measurement of Financial Instruments – Amendments
  • IFRS 19 - Subsidiaries without Public Accountability: Disclosures
This version is available on platforms 6.28.9259, 6.29.9459, 6.30.9574, 6.31.9627, and 6.32.9713.
Legislative updates
For detailed changes, refer to the
Content Change List PDF
 in the release pack.
Accounting Reference Number
Details
IAS 12
Amendments to IAS 12 Income Taxes - International Tax Reform - Pillar Two Model Rules
  • Introduces a mandatory temporary exception for accounting deferred taxes due to the jurisdictional implementation of the Pillar Two model rules.
  • Requires affected entities to disclose information to help users of financial statements understand the entity’s exposure to Pillar Two income taxes before the effective date.
IAS 1
Amendments to IAS 1: Classification of Liabilities as Current or Non-current
  • Clarifies requirements for classifying liabilities as current or non-current, issued in January 2020 and October 2022.
  • Specifies what constitutes a right to defer settlement and that this right must exist at the end of the reporting period.
  • States classification is unaffected by the likelihood of exercising the deferral right.
  • The terms of a liability do not impact its classification only if an embedded derivative in a convertible liability is itself an equity instrument.
IFRS 16
Amendments to IFRS 16 Leases: Lease Liability in a Sale and Leaseback
  • Specifies how a seller-lessee measures lease liability in sale and leaseback transactions, preventing recognition of gain or loss related to the retained right of use.
  • Effective for annual reporting periods starting January 1, 2024.
IAS 7 and IFRS 7
Supplier Finance Arrangements - Amendments to IAS 7 and IFRS 7
  • Clarifies characteristics and requires additional disclosure for supplier finance arrangements.
  • Effective for annual reporting periods starting January 1, 2024.
IAS 21
Lack of Exchangeability – Amendments to IAS 21
  • Requires a consistent approach to assess currency exchangeability and determine the exchange rate when exchangeability is lacking, along with required disclosures.
  • Effective for annual reporting periods starting January 1, 2025.
IFRS 10 and IAS 28
Sale or Contribution of Assets between an Investor and its Associate or Joint Venture – Amendments to IFRS 10 and IAS 28
  • Recognizes a full gain or loss when a transaction involves a business, and a partial gain or loss when it involves assets that do not constitute a business.
  • Allows early application with disclosure and must be applied prospectively.
IFRS 9 and IFRS 7
Classification and Measurement of Financial Instruments – Amendments
  • Issued in May 2024, effective for periods beginning January 1, 2026.
IFRS 18
IFRS 18 – Presentation and Disclosure in Financial Statements
  • Provides guidance on where information should be disclosed in the primary financial statements or the notes, requirements for grouping, uses meaningful labels for items presented or disclosed, and specifies disaggregation of operating expenses.
  • Effective for periods starting January 1, 2027, with retrospective application and interim financial statements. Early adoption allowed and must be disclosed.
IFRS 19
IFRS 19 - Subsidiaries without Public Accountability: Disclosures
  • Simplifies reporting for eligible subsidiaries by allowing IFRS Standards application with reduced disclosure.
  • Effective for periods starting January 1, 2027.
Content changes
Item ID
Title
Details and limitations
2833336
Primary Financial Statements
Few line items have been removed from primary financial statements - Statement of financial position.
2833338
Management Discussion and Analysis
“Director’s Report” has been replaced by “Management Discussion and Analysis”. A completely new section has been introduced which includes many paragraphs, bullet points and other sections. This is one of major update in this release.
2833341
Note 1 to Note 3
Major updates of texts and paragraphs in Note 2: Accounting policies and Note 3: Significant accounting judgements, estimates and assumptions.
2833342
Note 4 to Note 6
Few line items have been updated in Note 4: Revenue from contracts with customers-tables along with minor text changes over other notes to accounts.
2833343
Note 7 to Note 9
Minor changes of text and paragraphs have been done in this section.
2833344
Note 10 to Note 12
Minor changes of text and paragraphs have been done in this section.
2833345
Note 13 to Note 15
A new table has been introduced in Note 13: Discontinued operations along with minor text changes in other notes to accounts, New line items have been introduced in Note 14: Income tax.
2833346
Note 16 to Note 19
New paragraphs have been inserted along with minor text changes have been done in different parts of this section.
2833348
Note 20
Note 21
Note 22
Note 23
to Note 25
Minor changes of text and paragraphs have been done in this section.
2833349
Note 26 to Note 30
Major update in different table line items, new table has been inserted along with changes over text and new paragraphs introduced in Note 29: Trade and other payables.
2833352
Note 31 to Note 36
New paragraphs have been introduced replacing the old contents along with minor text changes over different parts of this section.
2833355
Annextures
Annexture 6 has been newly inserted and many minor changes over all annextures.
Corrections
There are no corrections.
Features
There are no new features.
XBRL
There's no XBRL for this template.
Impact on existing clients
There's no new impacts.
Deviations from standard configuration
There's no new deviations.
Appendix
There's no appendix.

Additional information

We plan to remove the
Prior to alignment to IFRS content
 folder, which contains old content, within the next year.

Known issues

  • For users planning to update to the 6.29 platform, there is a known issue where elements set to display as
    Never
     may still appear in the report.
  • Grid column headers have a character limitation and can only take up to 60 characters.
  • The test company we use encountered a failure in successfully pushing to the web. There are pending fixes to be implemented on the web platform, which may or may not affect customer files. If any issues arise, contact support.

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