IFRS 18 is a new accounting standard issued by the International Accounting Standards Board (IASB) in April 2024, replacing IAS 1 Presentation of Financial Statements. It becomes effective from 1 January 2027, with earlier adoption permitted.
IFRS – New IFRS Accounting Standard will aid investor analysis of companies’ financial performance
Key Improvements in IFRS 18
- Increased comparability of income statements across companies and industries.
- Greater transparency through defined subtotals and MPM disclosures.
- Stronger guidance on what and how to present in primary financial statements.
- Enhanced disaggregation for better insight into financial performance.
