IFRS
Accounting
Impact of the New Standard – IFRS 18 – on Information Presented in Financial Statements
· 5 min
The European Union has published a Commission Regulation in its Official Journal formally endorsing IFRS 18, “Presentation and Disclosure in Financial Statements.”
IFRS 18 aims to improve the usefulness and transparency of financial statement information, based on stakeholder feedback, especially from users seeking better insights into financial performance. It applies to all entities, irrespective of industry, and enhances how results are presented to support more effective analysis and comparability for investors.
The standard is mandatory for reporting periods beginning on or after 1 January 2027, with early adoption permitted.
EU Official Journal publication: https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=OJ:L_202600338.
Read more about how IFRS 18 affects financial statement information here: https://www.orients.lv/blog/IFRS18/.
For support with IFRS 18 implementation, contact us at info@orients.lv.
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IFRS 18 and IFRS 19 – the updated 2025 IFRS taxonomy introduced into the European Single Electronic Format
· 4 min
