Sec Form 20-F - Registration Statement/annual Report/transition Report/shell Company Report Page 61
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69PART III
[See General Instruction E(c)]
Item 17.
Financial Statements.
(a)
The registrant shall furnish financial statements for the same fiscal years and accountants’ certificates that would be
required to be furnished if the registration statement were on Form 10 or the annual report on Form 10-K. Schedules
designated by §§ 210.12-04, 210.12-09, 210.12-15, 210.12-16, 210.12-17, 210.12-18, 210.12-28, and 210.12-29 of this
chapter shall be furnished if applicable to the registrant.
(b)
The financial statements shall disclose an information content substantially similar to financial statements that comply
with U.S. generally accepted accounting principles and Regulation S-X.
(c)
The financial statements and schedules required by paragraph (a) above may be prepared according to U.S. generally
accepted accounting principles or IFRS as issued by the IASB. If the financial statements comply with IFRS as issued
by the IASB, such compliance must be unreservedly and explicitly stated in the notes to the financial statements and
the auditor’s report must include an opinion on whether the financial statements comply with IFRS as issued by the
IASB. If the notes and auditor’s report of an issuer do not contain the information in the preceding sentence, then the
U.S. GAAP reconciliation information described in paragraphs (c)(1) and (c)(2) must be provided. Alternatively, such
financial statements and schedules may be prepared according to a comprehensive body of accounting principles other
than those generally accepted in the United States or IFRS as issued by the IASB if the following are disclosed:
(1)
An indication, in the accountant’s report or in a reasonably prominent headnote before the financial statements,
of the comprehensive body of accounting principles used to prepare the financial statements.
(2)
A discussion of the material variations in the accounting principles, practices, and methods used in preparing
the financial statements from the principles, practices, and methods generally accepted in the United States and
in Regulation S-X. Such material variations shall be quantified in the following format:
(i)
For each year and any interim periods for which an income statement is presented, net income shall be
reconciled in a tabular format, substantially similar to the one shown below, on the face of the income
statement or in a note thereto. Each material variation shall be described and quantified as a separate
reconciling item, but several material variations may be combined on the face of the income statement
if shown separately in a note. However, reconciliation of net income of the earliest of the three years
may be omitted if that information has not previously been included in a filing made under the Securities
Act or Exchange Act.
Net income as shown in the financial statements ...............
XXX
Description of items having the effect of increasing reported income
Item 1 ......................................................................
XXX
Item 2, etc.....................................................
...........
XXX
Description of items having the effect of decreasing reported income
Item 1 ......................................................................
(XXX)
Item 2, etc. ..............................................................
(XXX)
Net income according to generally accepted accounting
principles in the United States ...........................................
XXX
(ii)
For each balance sheet presented, indicate the amount of each material variation between an amount of
a line item appearing in a balance sheet and the amount determined using U.S. generally accepted
accounting principles and Regulation S-X. Such amounts may be shown in parentheses, in columns,
61
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