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IFRS 18 is intended to improve how information is communicated in financial statements by: (a) requiring an entity to present defined totals and subtotals and to classify income and expenses into the categories of operating, investing, financing, income taxes and discontinued operations in the statement
12 kwi 2024 · Overview. 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.
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.”
IFRS 18, which was published by the IASB on 9 April 2024, sets out significant new requirements for how financial statements are presented, with particular focus on the statement of profit or loss,
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
This summary splits the topics covered in IFRS 18 to the following subtopics: Introduction: Objective, scope, definitions, separating and aggregation; General requirements for financial statements;
Overview of IFRS 18. Some of the key changes brought in by IFRS 18 are introduction of three categories of income and expenses, two income statement subtotals and one single note on management performance measures.
