New Educational Webinars on IFRS 18 Now Available

New Educational Webinars on IFRS 18 Now Available

By Prathamesh 24 June, 2024

On 14 June the European Financial Reporting Advisory Group (EFRAG) and the International Accounting Standards Board (IASB) released videos of two recent educational sessions on the new IFRS 18 Presentation and Disclosure in Financial Statements. These sessions detailed the main requirements of IFRS 18 and addressed practical challenges participants may face.

IFRS 18, issued in April 2024, sets forth comprehensive requirements for the presentation and disclosure of financial information, replacing IAS 1. Effective from 1 January 2027, with early application permitted, the standard aims to ensure that financial statements provide relevant and faithfully representative information about an entity’s financial position and performance.

The sessions covered key aspects such as categories and sub-totals, management-defined performance measures and the aggregation and disaggregation of information. Limited changes to the cash flow statement, effective dates, and transition requirements were also discussed. Participants had the opportunity to ask questions, gaining valuable insights into the application of IFRS 18 across different industries.

These sessions, which are now available on YouTube, provide an excellent resource for those preparing for the implementation of IFRS 18.

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