1. Accounting requirements under IFRS 18
In the session we will look at the key differences between IAS 1 & IFRS 18. The descriptive and prescriptive nature of the new Standard will be examined in terms of the following:
IFRS 18
- The purpose of IFRS 18 in terms of its innovative characteristics
- What is within its scope
- The improved structure of the statement of profit or loss (income statement), focusing on the three defined categories for income and expenses,
namely operating, investing and financing and the new defined subtotals required the Standard
- The enhanced transparency of management-defined performance measures
- The new requirements entailing information to be provided on an aggregation or disaggregation basis in the primary financial statements and the
notes
2. Preparing separate financial statements under IFRS 18 – A practical Approach
In the session we will look at case studies with accounting adjustments in terms of the following:
- the statement of profit or loss under IFRS 18
- the statement of financial position emphasising the impact of the ‘aggregation and disaggregation’ principles of IFRS 18
- the statement of changes in equity
- the implications of IFRS 18 on some of the notes to the financial statements
3.Preparing the Group Statement of profit or loss with notes under IFRS 18
In the session we will look at a case study based upon a consolidated statement of profit or loss with two subsidiaries and one associate focusing on the req...
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