Dates and location
Pricing
Hours
Dates and location
Pricing
Hours
Description
This course introduces the pervasive impact IFRS 18, Presentation and Disclosure in Financial Statements, will have on the preparation of the financial statements as entities must now classify all income and expense into one of five categories. Through discussion, illustration, and in-class activities, participants will gain a practical understanding of how this requirement affects the statement of comprehensive income, the statement of cash flows, and, to a lesser extent, the balance sheet. This course illustrates how entities present their financial results in accordance with IFRS 18, rather than accounting for the underlying transactions which remain unchanged.
Topics include:
- Objectives of IFRS 18.
- Criteria used by IFRS 18 to classify revenue and expenses into one of five categories.
- Key differences between IFRS 18 and IAS 1 in presenting the Statement of Profit or Loss.
- How IFRS 18 Appendix D amended the IAS 7 Statement of Cash Flow presentation requirements.
- Key differences between IFRS 18 and IAS 1 in presenting the Statement of Financial Position.
- How IFRS 18's disclosure requirements differ from those of IAS 1 and related standards.
NOTE: This course description has been revised and reflects updates for 2026. If you have any questions, please contact pdevents@cpaontario.ca.
Key Takeaways
By the end of this course, participants should be able to:
- Identify the five categories of revenue and expense that may appear on a Statement of Profit or Loss prepared in accordance with IFRS 18.
- Outline the criteria defined in IFRS 18 to determine the proper classification of revenue and expense items.
- Summarize the key differences required by IFRS 18 for presentation of the Statement of Profit or Loss.
- Summarize the key differences required by IFRS 18 for presentation of The Statement of Cash Flows.
- Summarize the key differences required by IFRS 18 for presentation of The Statement of Financial Position.
- Staff involved in the preparation of financial statements in accordance with IFRS.
Who Will Benefit
- Managers responsible for overseeing the preparation of financial statements, including controllers, CFOs, and VPs Finance.
- Senior managers and board members, who want to learn how IFRS 18, Presentation and Disclosure in Financial Statements, affects how the entity presents its results in its financial statements.
- External users of financial statements, who want to learn how IFRS 18, Presentation and Disclosure in Financial Statements, affects how companies present their results in financial statements.
Prerequisite(s)
- A working knowledge of how financial results are presented and disclosed in financial statements.
How to Access the Course
This course is delivered as a live webinar. To receive verifiable CPD hours, you must attend the session live. We recommend joining at least 5 minutes before the scheduled start time. For the best interactive experience, please use a computer equipped with a camera and microphone.
A reminder email with the Zoom link and course details will be sent two business days before the session. If you do not receive it, please check your spam or junk folder.
The same information, including any available materials, will also be posted in advance on our Blackboard LMS.
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.