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.
