IFRS: New Standard - IFRS 18

by Wayne Bartlett

Part of a series on 2024 IFRS Updates. This short course focuses on the new standard IFRS 18 Presentation and Disclosure in Financial Statements, which replaces IAS 1 with an effective date of 1 January 2027.

This module will enable you to

  • Understand the reasons for replacing IAS 1
  • Outline the key differences in IFRS 18, versus IAS 1
  • Explain the required structure of the statement of profit or loss
  • Understand the changes made to required disclosures
  • Aggregate and disaggregate key numbers correctly

About the module

This short course takes a look at what changes IFRS 18 will bring in its wake, and how those could affect you and your organisation or clients.

A new IFRS Accounting Standard is a big deal and it has taken eight years to see IFRS 18 through to publication. It will have an impact on everybody using IFRS as their reporting framework, due to its nature as a foundational standard. Key areas of interest include changes to the structure of the profit or loss account and disclosures around management performance measurements.

Contents

  • IFRS 18

How it works

Author

Wayne Bartlett

Wayne is an internationally acclaimed speaker and trainer on all aspects of public and private sector accounting and auditing standards. He has been instrumental in helping to develop the profession internationally and has taken lead roles in the development of new professional bodies and the accounting profession in Mozambique and Rwanda, and been extensively involved in developing financial reporting in many countries across the globe.

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