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This article applies to:

  • Product: ONESOURCE Statutory Reporting
  • Subject: Templates

Version 10 - December 2024 (template release)

Template release pack

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

Release notes

  • Period end: December 31, 2024
  • Update type: Legislative, features and corrections
Overview
This release focuses on legislative, features, and corrections for the period ending December 31, 2024. The template is available on platform 6.28.9259.
Legislative updates
You'll need to disclose the new accounting standards in the notes of the financial statements.
  • IFRS 16: Modifications specify the requirements for a seller-lessee when measuring the lease liability in a sale and leaseback transaction, ensuring no gain or loss is recognized related to the retained right of use.
  • IAS 1: Clarifications on classifying liabilities as current or non-current, focusing on the right to defer settlement.
  • IFRS S1 and IFRS S2: Introduction of sustainability and climate-related disclosures, effective internationally from January 1, 2024, with local applicability under evaluation.
  • IAS 21: Updates on determining currency interchangeability and estimating spot exchange rates when currencies are not interchangeable.
  • IFRS 9 and IFRS 7: Clarifications on financial instrument classification and measurement, including contractual cash flow characteristics and additional disclosure requirements for contingent events.
  • IFRS 18: Replaces IAS 1, introducing new categories and subtotals in the income statement, and requiring management-defined performance measures. Effective from January 1, 2027, with retrospective application and early adoption permitted.
    note
    We have also included in the financial statements a new Income Statement table. The table is disabled as it is not applicable until 2027 but can be early adopted.
  • IFRS 19: Provides simplified disclosure requirements for eligible subsidiaries, effective from January 1, 2027, with early adoption allowed.
  • IAS 33: Modified to allow additional per-share disclosures if specific criteria are met, aligning with IFRS 18 requirements.
  • IAS 34: Now requires the disclosure of management-defined performance measures.
Corrections
  • Tables' Instruction Position: The
    click here to enter data
     instruction has been repositioned to the end of the tables for consistency across reports and alignment with Streamline.
Features
  • Increase the note numbers: The number of available notes for custom disclosures has been increased from 6 to 10. This enhancement allows for a greater capacity to include detailed information in financial reports.
  • Reconciliation rows in notes: Additional reconciliation checks have been incorporated into several fixed assets tables. This ensures accuracy and completeness in financial reporting.
  • Cash flow automation: The Indirect Cash Flow Statement has been automated where possible, enhancing the efficiency of financial statement preparation. Automation includes profit/loss wording adjustments and data extraction from categories such as
    • Cuentas por cobrar comerciales
    • Otras cuentas por cobrar a partes relacionadas
    • Inventarios
    • Cuentas por pagar comerciales
    • Otras cuentas por pagar a partes relacionadas
Content changes
  • Legislative updates for December 31, 2024 year-end:
    • Disabled the previous regulations folder and marked as [Pre dic 2024]
      • Location:
         Estados financieros | Notas a los estados financieros | Resumen de principales políticas contables | Nuevos pronunciamientos contables | Nuevas normas y modificaciones a normas e interpretaciones adoptadas por la Compañía [Pre dic 2024]
    • Updated regulations in the template.
      • Location:
        Estados financieros | Notas a los estados financieros | Resumen de principales políticas contables | Nuevos pronunciamientos contables | Nuevas normas y modificaciones a normas e interpretaciones adoptadas por la Compañía

Known Issues

  • Please note the report doesn’t export to Excel due to the character “/” in the Peruvian currency symbol (S/).
    • Alternative for desktop only: Amend the
      Culture
       format under
      Tools
      Number, Date, and Culture
      .
    • No alternative for Excel online.

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