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ARTICLE · 25 NOVEMBER 2025

Preparing For The New IFRS 18: Presentation And Disclosure In Financial Statements

GGI | Global Alliance
GGI | Global Alliance
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Aiming to increase comparability, transparency, and coherence in financial reporting, on 09 April 2024, the International Accounting Standards Board (IASB) published a new accounting standard...

GlobalAccounting and Audit
Boris Michels (nbs partners)
Boris Michels (nbs partners)
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Background

Aiming to increase comparability, transparency, and coherence in financial reporting, on 09 April 2024, the International Accounting Standards Board (IASB) published a new accounting standard: International Financial Reporting Standards (IFRS) 18 "Presentation and Disclosure in Financial Statements".

IFRS 18 is intended to replace International Accounting Standard (IAS) 1 "Presentation of Financial Statements", and introduces a new structure for the presentation of the statement of profit or loss, constituting one of the key changes introduced by the new standard. The new accounting standard will apply to fiscal years beginning on or after 01 January 2027. Since retrospective application for 2026 is required, entities should become familiar with the new requirements at an early stage, because the comparative period must also be presented in accordance with the standard. Early application is possible but must be disclosed.

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