IAS 1Chapter 7Lesson 1
The transition to IFRS 18: what applies, what is transferred, what changes
Step 1 of 7Learning objectives
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IAS 1 applies until IFRS 18 is applied (annual periods beginning on or after 1 January 2027); some requirements move to the renamed IAS 8 and the major change concerns the statement of profit or loss.
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Learning objectives
- Explain until when IAS 1 applies and from when IFRS 18 replaces it, and determine the standard applicable to a year.
- Identify the IAS 1 requirements that move into amended IAS 8 and explain the renaming and its effect on cross-references.
- Identify the statements whose structure is retained and distinguish what changes from what is retained.
- Assess, as a professional, the nature of a 2026 agenda decision against the standard.