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This article applies to:

  • Product: ONESOURCE Statutory Reporting
  • Subject: Templates

Version 15 - May 2025 (CUD release)

  • Financial period type: 12-Months (Annual)
  • Target industry type: Manufacturing, Services, and Generic (excluding Financial Services)

Content update

This update verifies that the Korean Corporate Template includes Illustrative Model Content covering legislative requirements for the annual year-end reporting.

Legislative updates

We added a footnote about the accounting standard under
Section 2.4.3
, which hasn't been implemented yet. This follows the publication of amendments to
K-IFRS No. 1109 Financial Instruments
 and
No. 1107 Financial Instruments: Disclosures – Classification and Measurement of Financial Instruments
, along with Volume 11 of the Annual Improvements to K-IFRS.
Original Text
기업회계기준서 제 1109 호 ‘금융상품’ 및 제 1107 호 ‘금융상품: 공시’ 개정 – 금융상품의 분류 및 측정 개정사항은 다음을 포함합니다:
  • 결제일에 제거되는 금융부채와 전자지급시스템을 사용하여 결제되는 금융부채를 결제일 전에 제거하기 위한 회계정책 선택(특정 요건이 충족되는 경우)을 도입하는 것을 명확히 함
  • ESG 및 유사한 특성이 있는 금융자산의 계약상 현금흐름을 평가하는 방법에 대한 추가적인 지침
  • 비소구 특성을 구성하는 것이 무엇인지와 계약상 연계된 금융상품의 특징이 무엇인지를 명확히 함
  • 우발특성이 있는 금융상품에 대한 공시사항과 기타포괄손익-공정가치 측정 지분상품에 대한 추가적인 공시 요구사항을 도입
한국채택국제회계기준 연차개선 Volume 11 기준서간 요구사항의 일관성을 제고하고, 불명확한 부분을 명확히 하여, 이해가능성을 개선하고자 한국채택국제회계기준 연차개선 Volume 11 이 발표되었습니다.
  • 기업회계기준서 제 1101 호 ‘한국채택국제회계기준의 최초채택’: K-IFRS 최초 채택 시 위험회피회계 적용
  • 기업회계기준서 제 1107 호 ‘금융상품: 공시’: 제거 손익, 실무적용지침
  • 기업회계기준서 제 1109 호 ‘금융상품’: 리스부채의 제거 회계처리와 거래가격의 정의
  • 기업회계기준서 제 1110 호 ‘연결재무제표’: 사실상의 대리인 결정
  • 기업회계기준서 제 1007 호 ‘현금흐름표’: 원가법
English Translation
The amendments to
K-IFRS No. 1109 Financial Instruments
 and
No. 1107 Financial Instruments: Disclosures – Classification and Measurement of Financial Instruments
 include the following:
  • Clarification of the accounting policy option to derecognize financial liabilities settled on the settlement date and financial liabilities settled through electronic payment systems before the settlement date, provided specific criteria are met.
  • Additional guidance on how to assess the contractual cash flows of financial assets with ESG and similar characteristics.
  • Clarification of what constitutes non-recourse characteristics, and the features of financial instruments linked to contracts.
  • Introduction of the disclosure requirements for financial instruments with contingent characteristics and additional disclosure requirements for equity instruments measured at fair value through other comprehensive income.
We published Volume 11 of the Annual Improvements to K-IFRS to enhance consistency across standards, clarify ambiguous areas, and improve understandability.
  • K-IFRS No. 1101 First-time Adoption of K-IFRS: Application of hedge accounting upon the first-time adoption of K-IFRS.
  • K-IFRS No. 1107 Financial Instruments: Disclosures: Removal of gains and losses and practical application guidelines.
  • K-IFRS No. 1109 Financial Instruments: Derecognition of lease liabilities and definition of transaction price.
  • K-IFRS No. 1110 Consolidated Financial Statements: Determining the de facto agent.
  • K-IFRS No. 1007 Statement of Cash Flows: Cost method.
Is early adoption available for these accounting standards?
Apply these amendments starting from the 1st accounting year beginning on or after January 1, 2026. Early adoption is available, and you must disclose it. These amendments are expected not to impact the consolidated financial statements significantly.

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