The Complete Guide to IFRS 18

This course provides practical guidance on the requirements of IFRS 18 and its impact on the presentation of financial statements and the disclosure of information. It explains how IFRS 18 will replace IAS 1, Presentation of Financial Statements, and will apply to annual reporting periods beginning on or after January 1, 2027, with earlier application permitted. IFRS 18 represents a major change in how companies present financial performance and will affect all entities applying IFRS Accounting Standards, regardless of industry. The course consists of three parts: the first provides an overview of IFRS 18, the second covers the standard in Chapter 15 as part of the ACCA DipIFR syllabus, and the third focuses on the practical application of the standard’s requirements. Ahmed Ragab Desouky, Audit and Advisory Senior Partner, explains the new structure of the statements of performance, aggregation and disaggregation principles, and management-defined performance measures (MPMs). The course also covers the standard’s general requirements and its impact on the statement of profit or loss, statement of other comprehensive income, statement of financial position, statement of changes in equity, and the notes to the financial statements. Additionally, it addresses the impact of IFRS 18 on the chart of accounts, financial statement conversion, reporting systems and processes, and consolidation challenges. The course will help you identify the implications of applying the standard and implement an effective transition to its new requirements. The course includes ACCA-approved content compiled by BPP. Users will also be able to access BPP’s Revision Kit through a link provided in the course attachments.