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 the IFRS leader for PwC Luxembourg and a partner in the Assurance practice. With over 20 years of experience serving financial and multinational institutions by providing audit and advisory services, he is a member of various PwC International IFRS working groups, including GACS (Global Accounting and Consulting Services), Financial Instruments Topical Team (FITT), and Corporate Treasury Technical Committee (CTTC). Philippe played a crucial role in developing our global guide: Hedge Accounting in Practice.

Philippe graduated from HEC-University of Liège-Belgium. He is a qualified 'réviseur d’entreprises' in Luxembourg.