IFRS 18 was issued in April 2024 and applies to reporting periods starting on or after 1 January 2027. It includes requirements for all entities applying IFRS for the presentation and disclosure of information in financial statements. 

The objective of IFRS 18 is to set out requirements for the presentation and disclosure of information in general purpose financial statements, to help ensure they provide relevant information that faithfully represents an entity’s assets, liabilities, equity, income and expenses. This information must be useful to users in assessing the prospects for future net cash inflows to the entity and in assessing management’s stewardship of the entity’s resources. 

The course will cover the following areas: 

• IFRS 18 being a replacement for IAS 1 

• The aspects of IAS 1 that have been retained within IFRS 18, e.g. what constitutes a complete set of financial statements, the need for comparative information in the statements, disclosure of the presentation currency and the level of rounding etc. 

• The role of the primary financial statements and the role of the notes 

• Aggregation and disaggregation - the requirement to aggregate information based on shared characteristics and disaggregate information based on characteristics that are not shared 

• Specific requirements for the statement of profit or loss, including the classification of all items into one of five categories and the need for certain specific subtotals 

• Application of IFRS 18 in the statement of profit or loss for entities that either invest in assets as a main business activity or provide financing to customers as a specified main business activity 

• Requirements for the other primary statements 

• Disclosure of MPMs and reconciliation of them to profit measures defined by IFRS Accounting Standards 

• Transition to IFRS 18. 

• Basics of IFRS 18 

• Aggregation and disaggregation of information 

• IFRS 18 requirements for the statement of profit or loss 

• Requirements for the other primary statements 

• MPMs 

• Transition to IFRS 18 

This course is delivered through an interactive, online format designed to bridge technical understanding with practical application. 

• Group internet-based instruction by expert facilitators supported by clear explanations and illustrative examples 

• In-depth review and interpretation of social disclosure requirements with a focus on real-world relevance 

• Hands-on workshop exercises featuring realistic scenarios, case studies and proven best practices you can take back to your organisation 

• Interactive discussions encourage participant engagement, knowledge sharing and peer learning 

• In line with VantagePoint’s sustainability commitment, course materials are provided in digital format. Printed handouts will be limited to in-class exercises only. 

This course provides four hours of CPE/CPD credits.

VantagePoint is currently in the process of registering with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.