IFRB 2024/04 IASB publishes IFRS 18 Presentation and Disclosure in Financial Statements
IFRB 2024/04 IASB publishes IFRS 18 Presentation and Disclosure in Financial Statements
BDO has published IFR Bulletin 2024/04 IASB publishes IFRS 18 Presentation and Disclosure in Financial Statements, following the publication of IFRS 18 by the IASB on 9 April.
This latest IFRS® Accounting Standard sets out significant new requirements for how financial statements are presented, with particular focus on the statement of profit or loss, including requirements for mandatory sub-totals to be presented, aggregation and disaggregation of information, as well as disclosures related to management-defined performance measures.
IFRS 18, which replaces IAS 1 Presentation of Financial Statements, is effective from 1 January 2027 and aims to improve comparability and transparency of companies’ performance reporting. IFRS 18 has also resulted in narrow scope changes to the statement of cash flows.
BDO’s IFR Bulletin summarises the requirements of this new IFRS Accounting Standard, along with practical implications of these new requirements, transition and effective date.
This latest IFRS® Accounting Standard sets out significant new requirements for how financial statements are presented, with particular focus on the statement of profit or loss, including requirements for mandatory sub-totals to be presented, aggregation and disaggregation of information, as well as disclosures related to management-defined performance measures.
IFRS 18, which replaces IAS 1 Presentation of Financial Statements, is effective from 1 January 2027 and aims to improve comparability and transparency of companies’ performance reporting. IFRS 18 has also resulted in narrow scope changes to the statement of cash flows.
BDO’s IFR Bulletin summarises the requirements of this new IFRS Accounting Standard, along with practical implications of these new requirements, transition and effective date.