Attending the course and successfully completing the post-assessment, will grant you
3 hour/s verifiable CPD, recognised by the various
professional bodies (SAICA, SAIBA, SAIT, ACCA, IACSA, IRBA & etc). Please note that the
CPD certificate will only be issued once the post-assessment has been completed.
Web Based (Online)
TRISTAN DAVID-CREWE WHITE
tristan@probetatraining.co.za
IFRS 18 is the new ‘presentation of financial statements’ standard, replacing IAS 1. The effective date of IFRS 18 is for financial periods that begin on or after 1 January 2027.
This standard guides you in terms of the concepts that underlie all IFRS standards and set out the principles that embody an IFRS based set of financial statements.
IFRS 18 also lays out what makes up a set of IFRS based financial statements, and the minimum content requirements within each such statement except for the statement of cash flows dealt with separately under IAS 7.
Help you identify when the new standard becomes effective and the old IAS 1 standard is replaced
Simplify the IFRS 18 standard requirements and principles
Inform you as to the minimum expected content within each relevant statement that makes up a full set
Identify and simplify any accounting policy elections that may arise
Demonstrate an illustrative set of IFRS 18 financial statements (if available)
Highlight the core principles to be borne in mind when preparing financial statements
Objective and scope
General requirements for financial statements
Aggregation and disaggregation
Identify what makes up a complete set of financial statements
Simplify the requirements for preparing each statement, including identifying any accounting policy elections (statement of cash flows is excluded)
Statement of profit and loss
Statement presenting comprehensive income
Statement of financial position
Statement of changes in equity
Describe the minimum expected content / line items within each statement (statement of cash flows is excluded)
Determine what is required to be included in the notes to the financial statements, which may include accounting policy related disclosures
Demonstration of an illustrative set of IFRS 18 based financial statements (if available)
