IFRS 18 Practical Effects on Financial Reporting

As the effective date of IFRS 18 Presentation and Disclosures in Financial Statements draws closer, organisations should move beyond understanding the technical requirements and focus on the practical challenges of implementation. 

Entities should therefore begin assessing the effects of IFRS 18 as soon as possible. This assessment should not be limited to the finance reporting team, as the adoption of IFRS 18 may require input from treasury, tax, investor relations, legal, remuneration, systems and operational teams. Early analysis will help entities identify areas of judgement, determine whether data is available at the required level of granularity, assess whether systems and processes require changes, and develop a communication plan for explaining changes to users of the financial statements

• Specified main business activities assessment (entity level vs group level)
• Non-current assets held for sale and discontinued operations 
• Type 1 & Type 2 liabilities – bank overdraft, written put option over NCI, convertible notes, credit facility fees, etc.
• Business combinations
• Intercompany loans

Event Details

* Prerequisite – Participants are expected to have a working knowledge of the fundamental requirements of IFRS 18. This knowledge may be obtained by completing BDO’s introduction to IFRS 18 training courses (below).

BDO’s Introductory Courses on IFRS 18:

✅ Course 1 –  General requirements (FOCUS)
✅ Course 2 – Statement of profit or loss (FOCUS)
✅ Course 3 – Statement presenting comprehensive income
✅ Course 4 – Statement of financial position
✅ Course 5 – Statement of changes in equity
✅ Course 6 – Notes and management-defined performance measures
 

At the end of seminar, each attendee will receive:

• CPE certification; and
• A complete presentation slides after the seminar.