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IFRS 18: Presentation and Disclosure in Financial Statements
IFRS 18 will not change your numbers. It will change how they are understood.
A new standard takes effect for reporting periods beginning on or after January 1, 2027. Here is what it means, and how to get ready.
Catch Up on the IFRS 18 Breakfast Series
Missed the live event? Watch the recorded IFRS 18 Breakfast Series below and hear practical insights from Davidson's IFRS 18 team, including key takeaways and audience Q&A from the sessions.
IFRS 18 replaces IAS 1 presentation requirements, carrying forward many IAS 1 requirements and adding new structure and disclosures. Are you ready to lean into IFRS 18?
When is it effective?
IFRS 18 will be effective for reporting periods beginning on or after January 1, 2027, with earlier application permitted.
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.
Meet the IFRS 18 Team
What are the next steps?
- Create an inventory of your potential MPMs, using non-GAAP measures.
- Map income and expenses to the new categories.
- Determine MPMs and prepare reconciliations.
- Prepare draft financial statements applying IFRS 18 and the reconciliation note for auditor review.
Download and share
Get our one-page IFRS 18 overview to share with your team.
Have questions about how IFRS 18 affects your business?