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Save the date for our upcoming breakfast series!
IFRS 18 replaces IAS 1 presentation requirements, carrying forward many IAS 1 requirements and adding new structure and disclosures. Are you ready to lean in to IFRS 18?
WHEN IS IT EFFECTIVE?
IFRS 18 will be elective for annual reporting periods beginning on or aver January 1, 2027, with earlier application premised.
WHAT DOES MANAGEMENT NEED TO KNOW?
Management Performance Measures (“MPMs”) are required to be disclosed and reconciled in a single note to the financial statements.
Classification of income and expenses by category is required (operating, investing, financing, income taxes and discontinued operations as applicable).
Retrospective application is required. For example, for companies with a calendar year end, the comparative financial information must be presented under IFRS 18 in the December 31, 2027 financial statements.
WHAT ARE THE NEXT STEPS?
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Create an inventory of your potential MPMs (using non-GAAP measures).
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Map income and expenses to the new categories.
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Determine MPMs and prepare reconciliations.
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Prepare draft financial statements applying IFRS 18 and the reconciliation note for auditor review.
RESERVE YOUR SPOT
Seats are limited. Register now to secure your place at our IFRS 18 Breakfast Series.
Day 1: INSERT_LUMA_LINK_HERE
Day 2: INSERT_LUMA_LINK_HERE