Dates and location
Pricing
Hours
Dates and location
Pricing
Hours
Description
IFRS 18, Presentation and Disclosure in Financial Statements will replace IAS 1, Presentation of Financial Statements. IFRS 18 will be effective for annual reporting periods beginning on or after January 1, 2027. The objective of the new standard is to improve communication and transparency in financial statements. IFRS 18 will impact all companies presentation and disclosure of financial performance.
This course provides participants with an overview of the changes in IFRS 18 to improve communication of financial performance. The three key new requirements explained in IFRS 18 include: presentation of new defined subtotals in the statement of profit and loss, disclosure of management-defined performance measures and additional requirements for grouping (aggregation and disaggregation) of information. In addition, the impact on financial statements and changes to other standards are discussed. Lastly, resources are identified.
Participants will have the opportunity to review a number of illustrative examples and exercises. After attending this course, participants will have reviewed the key changes in IFRS 18 and the impact on companies financial statement presentation and note disclosure.
Topics Include:
- An introduction and overview of IFRS 18
- Impact on financial statements
- Statement of Profit or Loss
- Grouping of information
- Changes to other standards
- Management-Defined Performance Measures (MPMs)
- Relevant resources
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Key Takeaways
By the end of this course, participants will be able to:
- Identify the reasons for changes in IFRS 18.
- Identify and discuss the key changes in IFRS 18 and the impact on presentation of financial statements and note disclosure.
- Identify and discuss the impacts of IFRS 18 on other related standards.
- List relevant resources (with links)
Who Will Benefit
Professionals who work in financial reporting and related areas of publicly accountable enterprises or other enterprises applying IFRS, who are reading financial statements of publicly accountable enterprises, or who wish to be able to explain impact of IFRS 18 on presentation of financial statements and notes. Audit committee members who would like to gain an understanding of impact of IFRS 18 may also find this to be a useful course.
Disclaimer
The views expressed in the course are non-authoritative and have not been formally endorsed by CPA Ontario and do not reflect the views of CPA Ontario. The information included in the course if for general information purposes only.
CPA Ontario, the presenters and the authors do not accept any responsibility or liability that might occur directly or indirectly as a consequence of the use or application of or reliance on this material.
How to Access the Course
This is an online session. This course is available 24 hours a day, 7 days a week. Once registered, you can access the material at any time.
However, you will only have access to the course for 90 days after REGISTRATION.
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To access the course on your computer please visit our BlackBoard site, and log-in using the same login and password used for the Registration Portal.
Please allow up to 15 minutes after registration for the course to appear on your BlackBoard page.
Registration, cancellation, withdrawal and all other CPA Ontario PD policies can be found here.
Speaker(s)
Elizabeth J. Farrell, FCPA, FCA is an Adjunct Professor at the Schulich School of Business. In recognition of her excellence in teaching she was selected as the winner of the Seymour Schulich Award for Teaching Excellence in 1999, 2003 and 2009 and nominated for the award in 2004, 2005, 2006, 2011 and 2015. She was selected as the winner of the John Peace Teaching Award in 2002 and 2012. Elizabeth served as assistant coordinator at CPA Ontario's School of Accountancy. She has taught executive development courses for the Schulich School of Business, professional development courses for CPA Ontario and firms. Elizabeth is a co-author of Intermediate Financial Accounting. Her publications also include an accounting case analysis software package, study guides, ASPE: A Comparison to IFRS, IFRS A Review of the Standards, IFRS Leases and co-author Researching and Documenting an Accounting Issue and ASPE and NFPO Update, professional development courses, and a variety of case material. Elizabeth was a member of the Competency Map Committee. She was one of the lead authors for the assurance elective module for the CPA PEP program. Elizabeth has also served on the Board of Directors for a number of not for profit organizations.