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IFRS 18 supersedes IAS 1. Presentation of Financial Statements. IFRS 18 includes presentation and disclosure requirements that are new and requirements that have been carried forward from IAS 1. IFRS 18 is intended to improve how information is communicated in financial statements by:
These Illustrative Examples accompany IFRS 18 Presentation and Disclosure in Financial Statements (published April 2024; see separate booklet) and are issued by the International Accounting Standards Board (IASB).
IFRS 18 brings three categories of income and expenses, two income statement subtotals and one single note on management performance measures. These, combined with enhanced disaggregation guidance, set the stage for better and more consistent information for users – and will affect all companies.”
9 kwi 2024 · IFRS 18: Presentation and Disclosure in Financial Statements. Objective (para. 1) Scope (paras. 2-8) General requirements for financial statements (paras. 9-40) Aggregation and disaggregation (paras. 41-45) Statement of profit or loss (paras. 46-85) Statement presenting comprehensive income (paras. 86-95) Statement of financial position (paras ...
IFRS 18 will impact all companies across different industries. Although companies’ net profit will remain unchanged, many will see changes to the structure of their income statement.
IFRS 18 introduces • Three new defined categories to provide a consistent structure of the statement of profit or loss: • operating • investing • financing • Two new required subtotals to enable analysis: • operating profit • profit before financing and taxes
12 kwi 2024 · IFRS 18 includes requirements for all entities applying IFRS for the presentation and disclosure of information in financial statements. IFRS 18 was issued in April 2024 and applies to an annual reporting period beginning on or after 1 January 2027.
