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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:
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.”
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.
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 Presentation and Disclosure in Financial Statements seeks to respond to these demands by requiring a more structured income statement and greater disaggregation of information. It also makes
IFRS 18 introduces requirements to disclose in a single note • Reconciliation back to IFRS-defined subtotal • Explanation of why the MPM is reported • Explanation of how the MPM is calculated • Explanation of any changes to the MPM
The latest IFRS® Accounting Standard, IFRS 18 Presentation and Disclosure in Financial Statements, issued by the International Accounting Standards Board (IASB), replaces IAS 1 Presentation of Financial Statements and is mandatorily effective for annual reporting periods beginning on or after 1 January 2027.
