Reconciliation of restated amounts

Learning objectives

• Prepare the reconciliation of a restated line item with the previous line item.L2
• Calculate the difference line item by line item.L2, L3

Normative references

• IFRS 18 §C3In its first annual financial statements under IFRS 18, the entity provides, for the immediately preceding comparative period, a reconciliation, line item by line item of the statement of profit or loss, between the amounts restated under IFRS 18 and those previously presented under IAS 1; reconciliations for the current period or for earlier periods are permitted, not required (para. C6).

Original summaries of the paragraphs (reference register), never a quotation of the standard.

2 questions

• On transition, Colza SA reconciles line by line the restated amounts of its 2026 comparative period with those presented under IAS 1. On the financing expenses line, the amount restated under IFRS 18 is {restated_line} and the amount presented under IAS 1 is {previous_line} (case data). Calculate the difference for this line.L2
• Vega SA applies IFRS 18 for the first time in its annual financial statements for the year beginning on 1 January 2027; its immediately preceding comparative period is 2026, so far presented under IAS 1 (case facts). Which reconciliation does IFRS 18 require on transition?L2