IAS 1 until IFRS 18: annual periods beginning from 2027

Learning objectives

• Explain until when IAS 1 applies and from when IFRS 18 replaces it.L1
• Determine, for an entity with a given reporting date, the Standard applicable to a reporting period.L1, L2

Normative references

The syntheses of the reference register are written in French: only the paragraph reference is shown here.

3 questions

• An entity may apply IFRS 18 before 1 January 2027, provided it discloses that fact in its notes.L1
• Optima SA closes its books on 31 December and does not early adopt IFRS 18. For the year beginning on 1 January 2027, how does it present its 2026 comparative period?L2
• Which statements about the replacement of IAS 1 by IFRS 18 are correct? More than one answer is possible.L1