IFRS 18 - Presentation and disclosure in financial statements

IFRS18, the new standard on presentation and disclosures in the (IFRS) financial statements is here and is redefining the financial performance reporting. The new standard was issued in response to investors’ concerns about the comparability and transparency of entities’ performance reporting.

Management should consider the wide range of impacts the new standard will have on the entity's financial statements and operations, including its systems, to ensure readiness for the effective application of the standard.

A first step in this exercise is understanding of the main requirements of the new standard.

PwC IFRS experts will explain general concepts of the new standard and its main impact on the presentation and disclosures of the financial information in a very pedagogic way. They will illustrate the technical concepts with real-life and concrete examples taken from their daily experience.

By the end of this course, participants will be able to:

• explain general concepts of the new standard and its main impact on the preparation of financial information under IFRS;
• put into practice the basics of the new standard;
• assess the impact of the new standard on the presentation and disclosures of the financial statements under IFRS.

• Structure of the statement of profit or loss as per the new standard
• New required disclosures in the financial statements for certain profit or loss performance measures that are reported outside an entity’s financial statements (that is, management-defined performance measures)
• Enhanced principles on aggregation and disaggregation which apply to the primary financial statements and notes in general
• Other considerations

This training is coordinated by Philippe Förster, Lead Partner of IFRS Learning Solutions of PwC Luxembourg.

It will be led by experts of PwC Luxembourg who are actively engaged in the daily implementation of the IFRS norms.

Philippe Förster is a partner leading PwC’s IFRS service with extensive expertise in IFRS and treasury. Since starting his career in 2004 auditing banks, he has specialised globally in IFRS and treasury, becoming a recognised expert. Philippe is a chartered accountant in Luxembourg and leads the Payment Service Providers cluster. He is active in PwC’s Global Corporate Reporting Services and Global Corporate Treasury Solution groups. Philippe has contributed to key projects including the IFRS “memento” edition with PwC Paris, hedge accounting implementation, and supporting corporate IFRS transitions. Since 2007, he has also been an instructor delivering technical and soft skills training for clients and staff.