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IFRS 18Presentation and Disclosure in Financial Statements

IFRS 18Chapter 7Lesson 2

Transition: restated comparative, reconciliation and overview of what changes from IAS 1

Step 1 of 8Learning objectives

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IFRS 18 applies retrospectively under IAS 8: the comparative is restated under IFRS 18. The reclassification changes the subtotals, not profit for the period, and a reconciliation links the restated amounts to those presented under IAS 1.

50 minNot started

Learning objectives

  • Explain the restatement of the comparative and calculate the difference between a restated subtotal and the one presented under IAS 1.
  • Prepare the reconciliation of a restated line to the line previously presented.
  • Draw up the overview of what changes between IAS 1 and IFRS 18.

In this lesson

Original teaching content: it paraphrases the standard without reproducing it and does not replace the official text.

Contents — IFRS 18 — Presentation and Disclosure in Financial Statements

  1. 1 · Not startedIFRS 18 and IAS 1: the place of the new standard0 / 1 lesson
  2. 2 · Not startedThe five categories of income and expenses0 / 3 lessons
  3. 3 · Not startedThe required subtotals and profit for the period0 / 1 lesson
  4. 4 · Not startedEntities with specified main business activities0 / 1 lesson
  5. 5 · Not startedAggregation, disaggregation, labels and expenses by nature0 / 2 lessons
  6. 6 · Not startedManagement-defined performance measures0 / 2 lessons
  7. 7 · Not startedEffective date, EU endorsement and transition0 / 2 lessons
  8. 8 · Not startedConsequential amendments: IAS 7, IAS 33 and IAS 80 / 2 lessons