Changes to required disclosures
Disclosures are a key part of all financial statements prepared under IFRS. IFRS 18 specifically mentions what should be included in what is called the primary financial statements.
Comparative information in respect of the previous period. A statement of financial position at the beginning of the preceding period if the entity applies an accounting policy retrospectively or makes a retrospective restatement of items in its financial statements. This is generally quite similar to the previous guidance, but there is one significant change… mentions what should be included in what is called the primary financial statements. “ IFRS 18 specifically
These are:
A statement of financial performance for the reporting period with profit or loss and other comprehensive income separately shown. A statement of financial position at the end of the reporting period. A statement of changes in equity for the reporting period. A statement of cash flows for the reporting period. Notes for the reporting period.
IFRS 18 | CHANGES TO REQUIRED DISCLOSURES
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