April 2024

Reference Material
IFRS ® Accounting Standard

IFRS 18 Presentation and Disclosure in

Financial Statements

International Accounting Standards Board

Reference Material
This reference material comprises of a table of concordance and a table providing a mark-up of the requirements
that the IASB has brought forward from IAS 1 Presentation of Financial Statements to IFRS 18 Presentation and
Disclosure in Financial Statements with only limited changes to the wording.

Contents
Table of Concordance with IAS 1 Presentation of Financial Statements and other IFRS Accounting
Standards
A comparison of requirements in IFRS 18 Presentation and Disclosure in Financial Statements with
requirements in IAS 1 Presentation of Financial Statements

© IFRS Foundation 1
Table of concordance with IAS 1 Presentation of Financial Statements and
other IFRS Accounting Standards
The tables below show how the contents of IAS 1 Presentation of Financial Statements and IFRS 18 Presentation and
Disclosure in Financial Statements or other IFRS Accounting Standards correspond.

From IAS 1 paragraph

IAS 1 paragraph New paragraph
1 IFRS 18.1
2 IFRS 18.2
3 IFRS 18.4
4 IFRS 18.5
5 IFRS 18.6
6 IFRS 18.7
7 IFRS 18.App A, B1–B5, B87
8 IFRS 18.11
8A None
9 IFRS 18.9
10 IFRS 18.10, 11
10A IFRS 18.12
11 IFRS 18.14
12 None
13–14 IFRS 18.8
15–24 IAS 8.6A–6J
25–26 IAS 8.6K–6L
27–28 IAS 8.6M–6N
29 IFRS 18.42
30–30A None
31 IFRS 18.19, 20
32 IFRS 18.44
33 IFRS 18.45
34 IFRS 18.B27
35 IFRS 18.B28
36 IFRS 18.28
37 IFRS 18.29
38 IFRS 18.31
38A IFRS 18.32
38B IFRS 18.B13
38C IFRS 18.B14
38D IFRS 18.B15
39–40 None
40A IFRS 18.37
40B IFRS 18.38
40C IFRS 18.39

© IFRS Foundation 2
 From IAS 1 paragraph
IAS 1 paragraph New paragraph
40D IFRS 18.40
41 IFRS 18.33
42 IFRS 18.34
43 IFRS 18.35
44 IFRS 18.36
45 IFRS 18.30
46 IFRS 18.B12
47 IFRS 18.3
48 None
49 IFRS 18.25
50 IFRS 18.26
51 IFRS 18.27
52 IFRS 18.B10
53 IFRS 18.B11
54 IFRS 18.103–104
55 None
55A IFRS 18.24
56 IFRS 18.98
57 IFRS 18.106
58–59 IFRS 18.B109
60 IFRS 18.96
61 IFRS 18.97
62 IFRS 18.B90
63 IFRS 18.B91
64 IFRS 18.B92
65 IFRS 18.B93
66 IFRS 18.99–100
67 IFRS 18.B94
68 IFRS 18.B95
69 IFRS 18.101–102
70 IFRS 18.B96
71 IFRS 18.B97
72 IFRS 18.B98
72A IFRS 18.B99
72B IFRS 18.B100
73 IFRS 18.B101
74 IFRS 18.B102
75 IFRS 18.B103
75A IFRS 18.B104
76 IFRS 18.B105
76ZA IFRS 18.B106
© IFRS Foundation 3
 From IAS 1 paragraph
IAS 1 paragraph New paragraph
76A IFRS 18.B107
76B IFRS 18.B108
77 IFRS 18.42
78 IFRS 18.B111
79 IFRS 18.130
80 IFRS 18.131
80A IFRS 7.19B
81 None
81A IFRS 18.69, 86
81B IFRS 18.76, 87
82 IFRS 18.75
82A IFRS 18.88–89
83–85 None
85A–85B IFRS 18.24
86–87 None
88 IFRS 18.46
89 IFRS 18.B86
90 IFRS 18.93
91 IFRS 18.94–95
92 IFRS 18.90
93 IFRS 18.91
94 IFRS 18.92
95 IFRS 18.B88
96 IFRS 18.B89
97 IFRS 18.42
98 IFRS 18.B79
99–101 IFRS 18.78
102 IFRS 18.80
103 IFRS 18.81
104 IFRS 18.83
105 IFRS 18.B80
106 IFRS 18.107
106A IFRS 18.109
107 IFRS 18.110
108 IFRS 18.111
109 IFRS 18.112
110 IFRS 18.108
111 IFRS 18.3
112 IFRS 18.113
113 IFRS 18.114
114 IFRS 18.B112
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 From IAS 1 paragraph
IAS 1 paragraph New paragraph
115 None
116 IFRS 18.115
117–117E IAS 8.27A–27F
118–121 None
122–124 IAS 8.27G–27I
125–133 IAS 8.31A–31I
134 IFRS 18.126
135 IFRS 18.127–128
136 IFRS 18.129
136A IFRS 7.19A
137 IFRS 18.132
138 IFRS 18.116
139–140 None

© IFRS Foundation 5
 From IFRS 18 paragraph
IFRS 18 paragraph IAS 1 paragraph
1 1
2 2
3 47, 111
4 3
5 4 (partial)
6 5
7 6
8 13, 14
9 9
10 10
11 8, 10 (partial)
12 10A
13 None
14 11
15–18 None
19–20 31
21–23 None
24 55A, 85A, 85B
25 49
26 50
27 51
28 36
29 37
30 45
31 38
32 38A
33 41
34 42
35 43
36 44
37 40A
38 40B
39 40C
40 40D
41 None
42 29, 77, 97
43 None
44 32
45 33
46 88
47–68 None
© IFRS Foundation 6
 From IFRS 18 paragraph
IFRS 18 paragraph IAS 1 paragraph
69 81A (partial)
70–74 None
75 82
76 81B (partial)
77 None
78 99–101
79 None
80 102
81 103
82 None
83 104
84–85 None
86 81A (partial)
87 81B (partial)
88–89 82A
90 92
91 93
92 94
93 90
94–95 91
96 60
97 61
98 56
99–100 66
101–102 69
103–104 54
105 None
106 57
107 106
108 110
109 106A
110 107
111 108
112 109
113 112
114 113
115 116
116 138
117–125 None
126 134
127–128 135
© IFRS Foundation 7
 From IFRS 18 paragraph
IFRS 18 paragraph IAS 1 paragraph
129 136
130 79
131 80
132 137
B1–B5 7
B6–B9 None
B10 52
B11 53
B12 46
B13 38B
B14 38C
B15 38D
B16–B26 None
B27 34
B28 35
B29–B78 None
B79 98
B80 105
B81–B85 None
B86 89
B87 7 (partial)
B88 95
B89 96
B90 62
B91 63
B92 64
B93 65
B94 67
B95 68
B96 70
B97 71
B98 72
B99 72A
B100 72B
B101 73
B102 74
B103 75
B104 75A
B105 76
B106 76ZA
B107 76A
© IFRS Foundation 8
 From IFRS 18 paragraph
IFRS 18 paragraph IAS 1 paragraph
B108 76B
B109 58, 59
B110 None
B111 78
B112 114
B113–B142 None
C1–C8 None

© IFRS Foundation 9
A comparison of requirements in IFRS 18 Presentation and Disclosure in
Financial Statements with requirements in IAS 1 Presentation of Financial
Statements
The following table provides a mark-up of the requirements the IASB has brought forward from IAS 1 Presentation of
Financial Statements to IFRS 18 Presentation and Disclosure in Financial Statements with only limited changes to the
wording. Text that is shown as bold in IFRS 18 is not shown as bold in the table text, and defined terms are not italicised
at their first occurrence. Footnotes are not included.
Amendments to other IFRS Accounting Standards includes paragraphs the IASB has moved from IAS 1 to other IFRS
Accounting Standards and describes any changes to those paragraphs.

IAS 1 para # Revised text (new text underlined, deleted text struck through) IFRS 18 para #

Objective
IAS 1.1 (Mark-up is not provided because the paragraph has been changed IFRS 18.1
substantially)
Scope
IAS 1.2 An entity shall apply this Standard in preparing and presenting general IFRS 18.2
purposeand disclosing information in financial statements prepared in
accordance with International Financial Reporting Standards (IFRSs)IFRS
Accounting Standards.
IAS 1.3 Other IFRSsIFRS Accounting Standards set out the recognition, IFRS 18.4
measurement, presentation and disclosure requirements for specific
transactions and other events.
IAS 1.4 This Standard does not apply to the structurepresentation and IFRS 18.5
contentdisclosure of information in condensed interim financial statements
prepared in accordance withapplying IAS 34 Interim Financial Reporting.
However, paragraphs 15–3541–45 and 117–125 apply to such financial
statements. This Standard applies equally to all entities, including those
that present consolidated financial statements in accordance with IFRS 10
Consolidated Financial Statements and those that present separate
financial statements in accordance with IAS 27 Separate Financial
Statements.
IAS 1.5 This Standard uses terminology that is suitable for profit-oriented entities, IFRS 18.6
including public sector business entities. If entities with not-for-profit
activities in the private sector or the public sector apply this Standard, they
may need to amend the descriptions used for particular line items,
categories, subtotals or totals in the financial statements and for the
financial statements themselves.
IAS 1.6 Similarly, entities that do not have equity as defined in IAS 32 Financial IFRS 18.7
Instruments: Presentation (egfor example, some mutual funds) and entities
whose share capital is not equity (egfor example, some co-operative
entities) may need to adapt the financial statement presentation of
members’ or unitholders’ interests.

© IFRS Foundation 10
IAS 1 para # Revised text (new text underlined, deleted text struck through) IFRS 18 para #

Definitions
IAS 1.7 general purpose (Mark-up is not provided because the paragraph has IFRS 18.App A
financial been changed substantially)
statements
International are Standards and InterpretationsAccounting standards IFRS 18.App A
Financial issued by the International Accounting Standards Board
Reporting (IASB). They comprise:
Standards(IFRS (a) International Financial Reporting Standards;
s)IFRS
(b) International Accounting Standards;
Accounting
Standards (c) IFRIC Interpretations; and
(d) SIC Interpretations.
IFRS Accounting Standards were previously known as
International Financial Reporting Standards, IFRS,
IFRSs and IFRS Standards.

material Information is material if omitting, misstating or IFRS 18.App A

information obscuring it could reasonably be expected to influence IFRS 18.B1
decisions that the primary users of general purpose
financial statements make on the basis of those
financial statements, which provide financial information
about a specific reporting entity.
Materiality depends on the nature or magnitude of information, or both. An IFRS 18.B2
entity assesses whether information, either individually or in combination
with other information, is material in the context of its financial statements
taken as a whole.
Information is obscured if it is communicated in a way that would have a IFRS 18.B3
similar effect for primary users of financial statements to omitting or
misstating that information. The following are examples of circumstances
that may result in material information being obscured:
(a) material information regarding a materialabout an item,
transaction or other event is disclosed in the financial statements
but the language used is vague or unclear;
(b) material information regarding a materialabout an item,
transaction or other event is scattered throughout the financial
statements;
(c) dissimilar items, transactions or other events are inappropriately
aggregated;
(d) similar items, transactions or other events are inappropriately
disaggregated; and
(e) the understandability of the financial statements is reduced as a
result of material information being hidden by immaterial
information to the extent that a primary user is unable to
determine what information is material.
Assessing whether information could reasonably be expected to influence IFRS 18.B4
decisions made by the primary users of a specific reporting entity’s general
purpose financial statements requires an entity to consider the
characteristics of those users while also considering the entity’s own
circumstances.
Many existing and potential investors, lenders and other creditors cannot IFRS 18.B5
require reporting entities to provide information directly to them and must
rely on general purpose financial statements for much of the financial
information they need. Consequently, they are the primary users to whom
general purpose financial statements are directed. Financial statements
are prepared for users who have a reasonable knowledge of business and
economic activities and who review and analyse the information diligently.
At times, even well-informed and diligent users may need to seek the aid of
an adviser to understand information about complex economic
phenomena.

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IAS 1 para # Revised text (new text underlined, deleted text struck through) IFRS 18 para #

notes (Mark-up is not provided because the paragraph has IFRS 18.App A
been changed substantially)
other comprises itemsItems of income and expense IFRS 18.App A
comprehensive (including reclassification adjustments) that are not
income recognised inoutside profit or loss as required or
permitted by other IFRSsIFRS Accounting Standards.
Appendix A defines ‘other comprehensive income’. The components of other IFRS 18.B87
comprehensive income include:
(a) changes in revaluation surplus (see IAS 16 Property, Plant and
Equipment and IAS 38 Intangible Assets);
(b) remeasurements of defined benefit plans (see IAS 19 Employee
Benefits);
(c) gains and losses arising from translating the financial statements
of a foreign operation (see IAS 21 The Effects of Changes in
Foreign Exchange Rates);
(d) gains and losses from investments in equity instruments
designated at fair value through other comprehensive income in
accordance with paragraph 5.7.5 of IFRS 9 Financial Instruments;
(da)(e) gains and losses on financial assets measured at fair value
through other comprehensive income in accordance with
paragraph 4.1.2A of IFRS 9;
(e)(f) the effective portion of gains and losses on hedging instruments in
a cash flow hedge and the gains and losses on hedging
instruments that hedge investments in equity instruments
measureddesignated at fair value through other comprehensive
income in accordance with paragraph 5.7.5 of IFRS 9 (see
Chapter 6 of IFRS 9);
(f)(g) for particular liabilities designated as at fair value through profit or
loss, the amount of the change in fair value that is attributable to
changes in the liability’s credit risk (see paragraph 5.7.7 of IFRS
9);
(g)(h) changes in the value of the time value of options when separating
the intrinsic value and time value of an option contract and
designating as the hedging instrument only the changes in the
intrinsic value (see Chapter 6 of IFRS 9);
(h)(i) changes in the value of the forward elements of forward contracts
when separating the forward element and spot element of a
forward contract and designating as the hedging instrument only
the changes in the spot element, and changes in the value of the
foreign currency basis spread of a financial instrument when
excluding it from the designation of that financial instrument as the
hedging instrument (see Chapter 6 of IFRS 9);
(i)(j) insurance finance income and expenses from contracts issued
within the scope of IFRS 17 Insurance Contracts excluded from
profit or loss when total insurance finance income or expenses is
disaggregated to include in profit or loss an amount determined by
a systematic allocation applying paragraph 88(b) of IFRS 17, or
by an amount that eliminates accounting mismatches with the
finance income or expenses arising on the underlying items,
applying paragraph 89(b) of IFRS 17; and
(j)(k) finance income and expenses from reinsurance contracts held
excluded from profit or loss when total reinsurance finance
income or expenses is disaggregated to include in profit or loss an
amount determined by a systematic allocation, applying
paragraph 88(b) of IFRS 17.
owners are holdersHolders of instrumentsclaims classified as IFRS 18.App A
equity
profit or loss is theThe total of income less expenses, excluding the IFRS 18.App A
components of other comprehensive income included
in the statement of profit or loss.

© IFRS Foundation 12
IAS 1 para # Revised text (new text underlined, deleted text struck through) IFRS 18 para #

reclassification are amountsAmounts reclassified to profit or loss in IFRS 18.App A

adjustments the current reporting period that were
recognisedincluded in other comprehensive income in
the current or previousprior periods.
total is theThe change in equity during a reporting period IFRS 18.App A
comprehensive resulting from transactions and other events, other
income than those changes resulting from transactions with
owners in their capacity as owners.
Total comprehensive income comprises all
components of ‘profit or loss’ and of ‘other
comprehensive income’.
IAS 1.8 In addition, althoughAlthough this Standard uses the terms such as ‘other IFRS 18.11
comprehensive income’, ‘profit or loss’ and ‘total comprehensive income’,
an entity may use other terms to describelabel the totals, subtotals and line
items required by this Standard as long as they are labelled in a way that
faithfully represents the characteristics of the items, as required by
paragraph 43the meaning is clear. For example, an entity may use the
term ‘net income’ to describe label ‘profit or loss’.
Financial statements
Purpose of financial statements
IAS 1.9 (Mark-up is not provided because the paragraph has been changed IFRS 18.9
substantially)
Complete set of financial statements
IAS 1.10 A complete set of financial statements comprises: IFRS 18.10
(a) a statement of financial position as at the end of the period
a statement (or statements) of financial performance for the
reporting period (see paragraph 12);
(b) a statement of profit or loss and other comprehensive income for
the perioda statement of financial position as at the end of the
reporting period;
(c) a statement of changes in equity for the reporting period;
(d) a statement of cash flows for the reporting period;
(e) notes, comprising material accounting policy information and
other explanatory information for the reporting period;
(ea)(f) comparative information in respect of the preceding period as
specified in paragraphs 38 and 38A31–32; and
(f)(g) a statement of financial position as at the beginning of the
preceding period when an entity applies an accounting policy
retrospectively or makes a retrospective restatement of items in its
financial statements, or when it reclassifies items in its financial
statements in accordance with paragraphs 40A–40Dif required by
paragraph 37.
The statements listed in paragraphs 10(a)–10(d) (and their comparative IFRS 18.11
information) are referred to as the primary financial statements. An entity
may use titles for the statements other than those used in this Standard.
For example, an entity may use the title ‘statement of comprehensive
income’‘balance sheet’ instead of ‘statement of profit or loss and other
comprehensive income’‘statement of financial position’.
IAS 1.10A (Mark-up is not provided because the paragraph has been changed IFRS 18.12
substantially)
IAS 1.11 An entity shall present with equal prominence alleach of the primary IFRS 18.14
financial statements with equal prominence in a complete set of financial
statements.
IAS 1.13 (Mark-up is not provided because the paragraph has been changed IFRS 18.8
IAS 1.14 substantially)

© IFRS Foundation 13
IAS 1 para # Revised text (new text underlined, deleted text struck through) IFRS 18 para #

General features
Materiality and aggregation

IAS 1.29 (Mark-up is not provided because the paragraph has been changed IFRS 18.42
substantially)
IAS 1.31 Some IFRSsIFRS Accounting Standards specify information that is IFRS 18.19
required to be includedpresented in the primary financial statements, which
include or disclosed in the notes. An entity need not provide a specific
presentation or disclosure required by an IFRS Accounting Standards if the
information resulting from that presentation or disclosure is not material.
This is the case even if the IFRS Accounting Standards containscontain a
list of specific requirements or describesdescribe them as minimum
requirements.
An entity shall also consider whether to provide additional disclosures IFRS 18.20
when compliance with the specific requirements in IFRS Accounting
Standards is insufficient to enable users of financial statements to
understand the impacteffect of particular transactions, and other events
and conditions on the entity’s financial position and financial performance.
Offsetting
IAS 1.32 An entity shall not offset assets and liabilities or income and expenses, IFRS 18.44
unless required or permitted by an IFRS Accounting Standard (see
paragraphs B27–B28).
IAS 1.33 An entity reports separately both assets and liabilities, and income and IFRS 18.45
expenses. Offsetting in the statement(s) of profit or loss and other
comprehensive incomefinancial performance or the statement of financial
position, except when offsetting reflects the substance of the transaction or
other event, detracts from thereduces users’ ability of users both to
understand the transactions, and other events and conditions that have
occurred and to assess the entity’s future cash flows. Measuring assets net
of valuation allowances—for example, obsolescence allowances on
inventories and doubtful debts allowances for expected credit losses on
receivablesfinancial assets—is not offsetting.
IAS 1.34 Paragraph 44 prohibits an entity from offsetting assets and liabilities or IFRS 18.B27
income and expenses unless required or permitted by an IFRS Accounting
Standard. For example, IFRS 15 Revenue from Contracts with Customers
requires an entity to measure revenue from contracts with customers at the
amount of consideration to which the entity expects to be entitled in
exchange for transferring promised goods or services. For example,
theThe amount of revenue recognised reflects any trade discounts and
volume rebates the entity allows. AnIn contrast, an entity undertakesmight
undertake, in the course of its ordinary activities, other transactions that do
not generate revenue but are incidental to the main revenue-generating
activities. AnThe entity presentswould present in the primary financial
statements or disclose in the notes the results of such transactions, when
this presentation or disclosure reflects the substance of the transaction or
other event, by netting any income with related expenses arising on the
same transaction. For example:
(a) an entity presents in the primary financial statements or discloses
in the notes gains and losses on the disposal of non-current
assets, including investments and operating assets, by deducting
from the amount of consideration on disposal the carrying amount
of the asset and related selling expenses; and
(b) an entity may net expenditure related to a provision that is
recognised in accordance with IAS 37 Provisions, Contingent
Liabilities and Contingent Assets and reimbursed under a
contractual arrangement with a third party (for example, a
supplier’s warranty agreement) against the related
reimbursement.

© IFRS Foundation 14
IAS 1 para # Revised text (new text underlined, deleted text struck through) IFRS 18 para #

IAS 1.35 In addition, an entity presents on a net basis gains and losses arising from IFRS 18.B28
a group of similar transactions—, for example, foreign exchange gains and
losses or gains and losses arising on financial instruments held for trading
that are included in the same category of the statement(s) of financial
performance applying paragraphs 47–68. However, an entity presentsshall
disclose such gains and losses separately in the notes if they aredoing so
provides material information.
Frequency of reporting
IAS 1.36 An entity shall presentprovide a complete set of financial statements IFRS 18.28
(including comparative information) at least annually. When an entity
changes the end of its reporting period and presentsprovides financial
statements for a period longer or shorter than one year, anthe entity shall
disclose, in addition to the period covered by the financial statements:
(a) the reason for using a longer or shorter period,; and
(b) the fact that amounts presentedincluded in the financial
statements are not entirely comparable.
IAS 1.37 Normally, an entity consistently prepares financial statements for a IFRS 18.29
one-year period. However, for practical reasons, some entities prefer to
report, for example, for a 52-week period. This Standard does not preclude
this practice.
Comparative information
Minimum comparative information
IAS 1.38 Except when IFRSsIFRS Accounting Standards permit or require IFRS 18.31
otherwise, an entity shall presentprovide comparative information in
respect of(that is, information for the preceding reporting period) for all
amounts reported in the current period’s financial statements. An entity
shall include comparative information for narrative and descriptive
information if it is relevant tonecessary for an understanding of the current
period’s financial statements (see paragraphs B13).
IAS 1.38A An entity shall present, as a minimum, twocurrent reporting period and IFRS 18.32
preceding period in each of its primary financial statements of financial
position, two statements of profit or loss and other comprehensive income,
two separate statements of profit or loss (if presented), two statements of
cash flows and two statements of changes in equity, and relatedin the
notes. Paragraphs B14–B15 set out requirements relating to additional
comparative information.
IAS 1.38B In some cases, narrative information provided in the financial statements IFRS 18.B13
for the preceding reporting period(s) continues to be relevant in the current
period. For example, an entity discloses in the current period details of a
legal dispute, the outcome of which was uncertain at the end of the
preceding period and is yet to be resolved. Users of financial statements
maymight benefit from the disclosure of information that the uncertainty
existed at the end of the preceding period and from the disclosure of
information about the steps that have been taken during the period to
resolve the uncertainty.
Additional comparative information
IAS 1.38C An entity may presentprovide comparative information in addition to the IFRS 18.B14
minimum comparative financial statementsinformation required by IFRSs
IFRS Accounting Standards, as long as that information is prepared in
accordance with IFRSsIFRS Accounting Standards. This additional
comparative information may consist of one or more of the primary
financial statements referred to in paragraph 10, but need not comprise a
complete set of financial statements. When this is the case, the entity shall
present related notedisclose in the notes information for those additional
primary financial statements.

© IFRS Foundation 15
IAS 1 para # Revised text (new text underlined, deleted text struck through) IFRS 18 para #

IAS 1.38D For example, an entity may present a third statement of profit or loss and IFRS 18.B15
other comprehensive income(or statements) of financial performance
(thereby presenting the current reporting period, the preceding period and
one additional comparative period). However, the entity is not required to
present a third statement of financial position, a third statement of cash
flows or a third statement of changes in equity (iethat is, an additional
primary financial statement comparative). The entity is required to present,
disclose in the notes to the financial statements, the comparative
information related to that additional statement(s) of profit or loss and other
comprehensive incomefinancial performance.
Change in accounting policy, retrospective restatement or reclassification
IAS 1.40A An entity shall present a third statement of financial position as at the IFRS 18.37
beginning of the preceding period in addition to the minimum comparative
financial statementsinformation required in paragraph 38Aparagraphs 31–
32 if:
(a) it applies an accounting policy retrospectively, makes a
retrospective restatement of items in its financial statements or
reclassifies items in its financial statements; and
(b) the retrospective application, retrospective restatement or the
reclassification has a material effect on the information in the
statement of financial position as at the beginning of the
preceding period.
IAS 1.40B In the circumstances described in paragraph 40A,37 an entity shall present IFRS 18.38
three statements of financial position—a statement of financial position as
at:
(a) the end of the current reporting period;
(b) the end of the preceding period; and
(c) the beginning of the preceding period.
IAS 1.40C When an entity is required to present an additionala third statement of IFRS 18.39
financial position in accordance withapplying paragraph 40A37, it must
shall disclose the information required by paragraphs 41–4433–36 and IAS
8. However, it need not presentprovide the related notes to the opening
statement of financial position as at the beginning of the preceding period.
IAS 1.40D The date of that openingthird statement of financial position shall be as at IFRS 18.40
the beginning of the preceding period regardless of whether an entity’s
financial statements presentprovide comparative information for earlier
periods (as permitted in paragraph 38Cby paragraphs B14–B15).
IAS 1.41 If an entity changes the presentation, disclosure or classification of items in IFRS 18.33
its financial statements, it shall reclassify comparative amounts unless
reclassification is impracticable. When an entity reclassifies comparative
amounts, it shall disclose (including as at the beginning of the preceding
period):
(a) the nature of the reclassification;
(b) the amount of each item or class of items that is reclassified; and
(c) the reason for the reclassification.
IAS 1.42 When it is impracticable to reclassify comparative amounts, an entity shall IFRS 18.34
disclose:
(a) the reason for not reclassifying the amounts,; and
(b) the nature of the adjustments that would have been made if the
amounts had been reclassified.
IAS 1.43 Enhancing the inter-period comparability of information assists users of IFRS 18.35
financial statements in making economic decisions, especially by allowing
the assessment of trends in financial information for predictive purposes. In
some circumstances, it is impracticable to reclassify comparative
information for a particular prior reporting period to achieve comparability
consistency with the current period. For example, an entity may not have
collected data in the prior period(s) in a way that allows reclassification,
and it may be impracticable to recreate the information.

© IFRS Foundation 16
IAS 1 para # Revised text (new text underlined, deleted text struck through) IFRS 18 para #

IAS 1.44 IAS 8 sets out the adjustments to comparative information required when IFRS 18.36
an entity changes an accounting policy or corrects an error.
Consistency of presentation
IAS 1.45 An entity shall retain the presentation, disclosure and classification of items IFRS 18.30
in the financial statements from one reporting period to the next unless:
(a) it is apparent, following a significant change in the nature of the
entity’s operations or a review of its financial statements, that
another presentation, disclosure or classification would be more
appropriate having regard to the criteria for the selectionselecting
and application ofapplying accounting policies in IAS 8 Basis of
Preparation of Financial Statements (see paragraph B12); or
(b) an IFRS Accounting Standard requires a change in presentation,
disclosure or classification.
IAS 1.46 Paragraph 30(a) requires an entity to change the presentation, disclosure IFRS 18.B12
or classification of items in the financial statements if it is apparent that
another presentation, disclosure or classification would be more
appropriate. For example, a significant acquisition or disposal, or a review
of the presentation of the financial statements, might suggest that the
financial statements need to be presented differentlychanged. An entity
changesis permitted to change the presentation, disclosure or classification
of items in its financial statements only if the changed presentationchange
provides information that is reliable and more relevantuseful to users of the
financial statements and if the revised structureentity is likely to continue
using the revised presentation, disclosure or classification, so that
inter-period comparability is not impaired. When making such changes in
presentation, an entity reclassifies its comparative information in
accordance with paragraphs 41 and 4233–34.
Structure and content
Introduction
IAS 1.47 (Mark-up is not provided because the paragraph has been changed IFRS 18.3
substantially)
Identification of the financial statements
IAS 1.49 An entity shall clearly identify the financial statements and distinguish them IFRS 18.25
from other information in the same published document (see paragraph
B10).
IAS 1.50 IFRSsIFRS Accounting Standards apply only to financial statements, and IFRS 18.26
not necessarily to other information presentedprovided in an annual report,
a regulatory filing, or another document. Therefore, it is important that
users of financial statements can distinguish information that is prepared
using IFRSsIFRS Accounting Standards from other information that may
be useful to users but is not the subject of those requirements.
IAS 1.51 An entity shall clearly identify each primary financial statement and the IFRS 18.27
notes. In addition, an entity shall display the following informationdisclose
prominently, and repeat it when necessary for the information presented
provided to be understandable:
(a) the name of the reporting entity or other means of identification,
and any change in that information from the end of the preceding
reporting period;
(b) whether the financial statements are of an individual entity or a
group of entities;
(c) the date of the end of the reporting period or the period covered
by the set of financial statements or notes;
(d) the presentation currency, as defined in IAS 21 The Effects of
Changes in Foreign Exchange Rates; and
(e) the level of rounding used in presentingfor the amounts in the
financial statements (see paragraph B11).

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IAS 1.52 Paragraph 25 requires an entity to clearly identify the financial statements IFRS 18.B10
and distinguish them from other information in the same published
document. An entity meets thethese requirements in paragraph 51 by
presentingproviding appropriate headings for pages, statements, notes,
columns and the like. Judgement is required in determining the best way of
presentingproviding such information. For example, whenif an entity
presentsprovides the financial statements electronically, separate pages
are not always used; an entity then presents the above items to ensure
that theconsiders other ways to meet the requirements—for example, by
appropriate digital tagging of information includedprovided in the financial
statements can be understood.
IAS 1.53 An entity often makes financial statements more understandable by IFRS 18.B11
presentingproviding information in thousands or millions of units of the
presentation currency. This practice is acceptable as long as the entity
discloses the level of rounding and does not omit material information.

Statement of financial position

Information to be presented in the statement of financial position
IAS 1.54 An entity shall present in theThe statement of financial position shall IFRS 18.103
include line items that present the following amounts for:
(a) property, plant and equipment;
(b) investment property;
(c) intangible assets;
(d) goodwill;
(d)(e) financial assets (excluding amounts shown under (e)(g), (h)(j) and
(i)(k));
(da)(f) portfolios of contracts within the scope of IFRS 17 that are assets,
disaggregated as required by paragraph 78 of IFRS 17;
(e)(g) investments accounted for using the equity method;
(f)(h) biological assets within the scope of IAS 41 Agriculture;
(g)(i) inventories;
(h)(j) trade and other receivables;
(i)(k) cash and cash equivalents;
(j)(l) the total of assets classified as held for sale and assets included
in disposal groups classified as held for sale in accordance with
IFRS 5 Non‑current Assets Held for Sale and Discontinued
Operations;
(k)(m) trade and other payables;
(l)(n) provisions;
(m)(o) financial liabilities (excluding amounts shown under (k)(m) and
(l)(n));
(ma)(p) portfolios of contracts within the scope of IFRS 17 that are
liabilities, disaggregated as required by paragraph 78 of IFRS 17;
(n)(q) liabilities and assets for current tax, as defined in IAS 12 Income
Taxes;
(o)(r) deferred tax liabilities and deferred tax assets, as defined in IAS
12; and
(p)(s) liabilities included in disposal groups classified as held for sale in
accordance with IFRS 5;.
An entity shall present in the statement of financial position: IFRS 18.104
(q)(a) non-controlling interests, presented within equity; and
(r)(b) issued capital and reserves attributable to owners of the parent.
IAS 1.55A (Mark-up is not provided because the paragraph has been changed IFRS 18.24
substantially)

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IAS 1 para # Revised text (new text underlined, deleted text struck through) IFRS 18 para #

IAS 1.56 When an entity presents current and non-current assets, and current and IFRS 18.98
non-current liabilities, as separate classifications in its statement of
financial position, it shall not classify deferred tax assets (liabilities) as
current assets (liabilities).
IAS 1.57 ThisSubject to paragraph 96, this Standard does not prescribe the order or IFRS 18.106
format in which an entity presents items. Paragraph 54 simply lists items
that are sufficiently different in nature or function to warrant separate
presentation in the statement of financial position. In addition,:
(a) line items are included when the size, nature or function of an
item or aggregation of similar items is such that separate
presentation is relevant to an understanding of the entity’s
financial position; and
(b) the descriptions used and the ordering of items or aggregation of
similar items may be amended according to the nature of the
entity and its transactions, to provide information that is relevant
to an understandinga useful structured summary of the entity’s
financial positionassets, liabilities and equity. For example, a
financial institution may amend the above descriptions in
paragraph 103 to provide information that is relevant toa useful
structured summary of the operationsassets, liabilities and equity
of a financial institution.
IAS 1.58 (Mark-up is not provided because the paragraph has been changed IFRS 18.B109
IAS 1.59 substantially)

Current/non-current distinction
IAS 1.60 An entity shall present current and non-current assets, and current and IFRS 18.96
non-current liabilities, as separate classifications in its statement of
financial position in accordance with paragraphs 66–76B99–102 except
when a presentation based on liquidity provides information that is reliable
anda more relevantuseful structured summary. When that exception
applies, an entity shall present all assets and liabilities in order of liquidity
(see paragraphs B90–B93).
IAS 1.61 Whichever method of presentation is adopted, an entity shall disclose the IFRS 18.97
amount expected to be recovered or settled after more than twelve12
months for each asset and liability line item that combines amounts
expected to be recovered or settled:
(a) no more than twelve12 months after the reporting period,; and
(b) more than twelve12 months after the reporting period.
IAS 1.62 WhenIn applying paragraph 96, when an entity supplies goods or services IFRS 18.B90
within a clearly identifiable operating cycle, separate classification of
current and non-current assets and liabilities in the statement of financial
position provides useful information by distinguishing the net assets that
are continuously circulating as working capital from those used in the
entity’s long-term operations. ItSuch separate classification also highlights
assets that are expectedan entity expects to be realisedrealise within the
current operating cycle, and liabilities that are due for settlement within the
same period.
IAS 1.63 For some entities, such as financial institutions, a presentation of assets IFRS 18.B91
and liabilities in increasing or decreasing order of liquidity provides
information that is reliable anda more relevantuseful structured summary
than a current/non-current presentation because the entity does not supply
goods or services within a clearly identifiable operating cycle.
IAS 1.64 In applying paragraph 6096, an entity is permitted to present some of its IFRS 18.B92
assets and liabilities using a current/non-current classification and others in
order of liquidity when thisdoing so provides information that is reliable and
a more relevantuseful structured summary. The need for a mixed basis of
presentation might arise when an entity has diverse operations.

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IAS 1.65 Information about expected dates of realisation of assets and liabilities is IFRS 18.B93
useful in assessing the liquidity and solvency of an entity. IFRS 7 Financial
Instruments: Disclosures requires disclosure of the maturity datesanalysis
of financial assets and financial liabilities. Financial assets include trade
and other receivables, and financial liabilities include trade and other
payables. Information on the expected date of recovery of non-monetary
assets, such as inventories, and the expected date of settlement for
liabilities, such as provisions, is also useful, whether assets and liabilities
are classified as current or as non-current. For example, an entity
discloses in the notes the amount of inventories that are expected to be
recoveredit expects to recover more than twelve12 months after the
reporting period.
Current assets
IAS 1.66 An entity shall classify an asset as current when (see paragraphs B94– IFRS 18.99
B95):
(a) it expects to realise the asset, or intends to sell or consume it, in
its normal operating cycle;
(b) it holds the asset primarily for the purpose of trading;
(c) it expects to realise the asset within twelve12 months after the
reporting period; or
(d) the asset is cash or a cash equivalent (as defined in IAS 7),
unless the asset is restricted from being exchanged or used to
settle a liability for at least twelve12 months after the reporting
period.
An entity shall classify all other assets other than those specified in IFRS 18.100
paragraph 99 as non-current.
IAS 1.67 Paragraph 100 requires an entity to classify as non-current all assets not IFRS 18.B94
classified as current. This Standard uses the term ‘non-current’ to include
tangible, intangible and financial assets of a long-term nature. It does not
prohibit the use of alternative descriptions as long as the meaning is clear.
IAS 1.68 The operating cycle of an entity is the time between the acquisition of IFRS 18.B95
assets for processing and their realisation in cash or cash equivalents.
When thean entity’s normal operating cycle is not clearly identifiable, it is
assumed to be twelve12 months. Current assets include assets (such as
inventories and trade receivables) that are sold, consumed or realised as
part of the normal operating cycle even when they are not expected to be
realised within twelve12 months after the reporting period. Current assets
also include assets held primarily for the purpose of trading (examples
include some financial assets that meet the definition of held for trading in
IFRS 9) and the current portion of non-current financial assets.
Current liabilities
IAS 1.69 An entity shall classify a liability as current when: IFRS 18.101
(a) it expects to settle the liability in its normal operating cycle (see
paragraphs B96 and B107–B108);
(b) it holds the liability primarily for the purpose of trading (see
paragraph B97);
(c) the liability is due to be settled within twelve12 months after the
reporting period (see paragraphs B97–B98 and B107–B108); or
(d) it does not have the right at the end of the reporting period to
defer settlement of the liability for at least twelve12 months after
the reporting period (see paragraphs B99–B108).

An entity shall classify all other liabilities other than those specified in IFRS 18.102
paragraph 101 as non-current.

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IAS 1 para # Revised text (new text underlined, deleted text struck through) IFRS 18 para #

Normal operating cycle (paragraph 69(a))

IAS 1.70 Some current liabilities, such as trade payables and some accruals for IFRS 18.B96
employee and other operating costs, are part of the working capital used in
thean entity’s normal operating cycle. An entity classifies such operating
items as current liabilities even if they are due to be settled more than
twelve12 months after the reporting period. The same normal operating
cycle applies to the classification of anthe entity’s assets and liabilities.
When the entity’s normal operating cycle is not clearly identifiable, it is
assumed to be twelve12 months.
Held primarily for the purpose of trading (paragraph 69(b)) or due to be
settled within twelve months (paragraph 69(c))
IAS 1.71 Other current liabilities are not settled as part of the normal operating IFRS 18.B97
cycle, but are due for settlement within twelve12 months after the reporting
period or held primarily for the purpose of trading. Examples are some
financial liabilities that meet the definition of held for trading in IFRS 9,
bank overdrafts, and the current portion of non-current financial liabilities,
dividends payable, income taxes and other non-trade payables. Financial
liabilities that provide financing on a long-term basis (iethat is, are not part
of the working capital used in the entity’s normal operating cycle) and are
not due for settlement within twelve12 months after the reporting period are
non-current liabilities, subject to paragraphs 72A–75B99–B103.
IAS 1.72 An entity classifies its financial liabilities as current when they are due to be IFRS 18.B98
settled within twelve12 months after the reporting period, even if:
(a) the original term was for a period longer than twelve12 months,;
and
(b) an agreement to refinance, or to reschedule payments, on a long-
term basis is completed after the reporting period and before the
financial statements are authorised for issue.
Right to defer settlement for at least twelve months (paragraph 69(d))
IAS 1.72A An entity’s right to defer settlement of a liability for at least twelve12 IFRS 18.B99
months after the reporting period must have substance and, as illustrated
in paragraphs 72B–75B100–B103, must exist at the end of the reporting
period.
IAS 1.72B An entity’s right to defer settlement of a liability arising from a loan IFRS 18.B100
arrangement for at least twelve12 months after the reporting period may be
subject to the entity complying with conditions specified in that loan
arrangement (hereafter referred to as ‘covenants’). For the purposes of
applying paragraph 69(d)101(d), such covenants:
(a) affect whether that right exists at the end of the reporting period—
as illustrated in paragraphs 74–75B102–B103—if an entity is
required to comply with the covenant on or before the end of the
reporting period. Such a covenant affects whether the right exists
at the end of the reporting period even if compliance with the
covenant is assessed only after the reporting period (for example,
a covenant based on the entity’s financial position at the end of
the reporting period but assessed for compliance only after the
reporting period).
(b) do not affect whether that right exists at the end of the reporting
period if an entity is required to comply with the covenant only
after the reporting period (for example, a covenant based on the
entity’s financial position six months after the end of the reporting
period).
IAS 1.73 If an entity has the right, at the end of the reporting period, to roll over an IFRS 18.B101
obligation for at least twelve12 months after the reporting period under an
existing loan facility, it classifies the obligation as non-current, even if it
would otherwise be due within a shorter period. If the entity has no such
right, the entity does not consider the potential to refinance the obligation
and classifies the obligation as current.

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IAS 1.74 When an entity breaches a covenant of a long-term loan arrangement on IFRS 18.B102
or before the end of the reporting period with the effect that the liability
becomes payable on demand, it classifies the liability as current, even if
the lender agreed, after the reporting period and before the authorisation of
the financial statements for issue, not to demand payment as a
consequence of the breach. AnThe entity classifies the liability as current
because, at the end of the reporting period, it does not have the right to
defer its settlement for at least twelve12 months after that date.
IAS 1.75 However, an entity classifies the liability as non-current if the lender agreed IFRS 18.B103
by the end of the reporting period to provide a period of grace ending at
least twelve12 months after the reporting period, within which the entity
can rectify the breach and during which the lender cannot demand
immediate repayment.
IAS 1.75A Classification of a liability is unaffected by the likelihood that the entity will IFRS 18.B104
exercise its right to defer settlement of the liability for at least twelve12
months after the reporting period. If a liability meets the criteria in
paragraph 69paragraphs 101–102 for classification as non-current, it is
classified as non-current even if management intends or expects the entity
to settle the liability within twelve12 months after the reporting period, or
even if the entity settles the liability between the end of the reporting period
and the date the financial statements are authorised for issue. However, in
either of those circumstances, the entity may need to disclose information
about the timing of settlement to enable users of its financial statements to
understand the impact of the liability on the entity’s financial position (see
paragraphs 17(c)6C(c) of IAS 8 and 76(d)B105(d)).
IAS 1.76 If the following events occur between the end of the reporting period and IFRS 18.B105
the date the financial statements are authorised for issue, those events are
disclosed as non-adjusting events in accordance with IAS 10 Events after
the Reporting Period:
(a) refinancing on a long-term basis of a liability classified as current
(see paragraph 72B98);
(b) rectification of a breach of a long-term loan arrangement
classified as current (see paragraph 74B102);
(c) the granting by the lender of a period of grace to rectify a breach
of a long-term loan arrangement classified as current (see
paragraph 75B103); and
(d) settlement of a liability classified as non-current (see paragraph
75AB104).
IAS 1.76ZA In applying paragraphs 69–75,101–102 and B96–B103 an entity might IFRS 18.B106
classify liabilities arising from loan arrangements as non-current when the
entity’s right to defer settlement of those liabilities is subject to the entity
complying with covenants within twelve12 months after the reporting period
(see paragraph 72B(b)B100(b)). In such situations, the entity shall disclose
information in the notes that enables users of financial statements to
understand the risk that the liabilities could become repayable within
twelve12 months after the reporting period, including:
(a) information about the covenants (including the nature of the
covenants and when the entity is required to comply with them)
and the carrying amount of related liabilities.
(b) facts and circumstances, if any, that indicate the entity may have
difficulty complying with the covenants—for example, the entity
having acted during or after the reporting period to avoid or
mitigate a potential breach. Such facts and circumstances could
also include the fact that the entity would not have complied with
the covenants if they were to be assessed for compliance based
on the entity’s circumstances at the end of the reporting period.

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Settlement (paragraphs 69(a), 69(c) and 69(d))

IAS 1.76A For the purpose of classifying a liability as current or non-current, IFRS 18.B107
settlement refers to a transfer to the counterparty that results in the
extinguishment of the liability. The transfer could be of:
(a) cash or other economic resources—for example, goods or
services; or
(b) the entity’s own equity instruments, unless paragraph 76BB108
applies.
IAS 1.76B Terms of a liability that could, at the option of the counterparty, result in its IFRS 18.B108
settlement by the transfer of the entity’s own equity instruments do not
affect its classification as current or non-current if, applying IAS 32
Financial Instruments: Presentation, the entity classifies the option as an
equity instrument, recognising it separately from the liability as an equity
component of a compound financial instrument.
Information to be presented either in the statement of financial position or
in the notes
IAS 1.77 (Mark-up is not provided because the paragraph has been changed IFRS 18.42
substantially)
IAS 1.78 (Mark-up is not provided because the paragraph has been changed IFRS 18.B111
substantially)
IAS 1.79 An entity shall disclose the following, either present in the statement of IFRS 18.130
financial position or the statement of changes in equity, or disclose in the
notes:
(a) for each class of share capital:
(i) the number of shares authorised;
(ii) the number of shares issued and fully paid, and issued but
not fully paid;
(iii) par value per share, or a statement that the shares have no
par value;
(iv ) a reconciliation of the number of shares outstanding at the
beginning and at the end of the reporting period;
(v ) the rights, preferences and restrictions attaching to that
class, including restrictions on the distribution of dividends
and the repayment of capital;
(v i) shares in the entity held by the entity or by its subsidiaries or
associates; and
(v ii) shares reserved for issue under options and contracts for
the sale of shares, including terms and amounts; and
(b) a description of the nature and purpose of each reserve within
equity.
IAS 1.80 An entity without share capital, such as a partnership or trust, shall IFRS 18.131
disclose information equivalent to that required by paragraph 79(a)130(a),
showing changes during the reporting period in each category of equity
interest, and the rights, preferences and restrictions attaching to each
category of equity interest.

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Statement of profit or loss and other comprehensive income

IAS 1.81A (Mark-up is not provided because the paragraph has been changed IFRS 18.69
substantially)
The statement of profit or loss and other comprehensive income IFRS 18.86
(statement of comprehensive income)An entity shall present in the
statement presenting comprehensive income totals for, in addition to the
profit or loss and other comprehensive income sections:
(a) profit or loss;
(b) total other comprehensive income (see paragraphs B86–B87);
and
(c) comprehensive income for the period, being the total of profit or
loss and other comprehensive income.
If an entity presents a separate statement of profit or loss it does not
present the profit or loss section in the statement presenting
comprehensive income.
IAS 1.81B An entity shall present the following items, in addition toin the statement of IFRS 18.76
profit or loss and other comprehensive income sections, as(outside all the
categories described in paragraph 47) an allocation of profit or loss and
other comprehensive income for the reporting period attributable to:
(a) profit or loss for the period attributable to:
(i)(a) non‑controlling interests,; and
(ii)(b) owners of the parent.
(b) An entity shall present an allocation of comprehensive income for IFRS 18.87
the reporting period attributable to:
(i)(a) non-controlling interests,; and
(ii)(b) owners of the parent.
If an entity presents profit or loss in a separate statement it shall present
(a) in that statement.
Information to be presented in the profit or loss section or the statement of
profit or loss
IAS 1.82 (Mark-up is not provided because the paragraph has been changed IFRS 18.75
substantially)
Information to be presented in the other comprehensive income section
IAS 1.82A The other comprehensive income section shall present line items for the IFRS 18.88
amounts for the period ofAn entity shall classify income and expenses
included in the statement presenting comprehensive income in one of two
categories:
(a) items of other comprehensive income (excluding amounts in
paragraph (b)), classified by nature and grouped into those that, in
accordance with other IFRSs:
(i)(a) will not be reclassified subsequently to profit or lossincome and
expenses that will be reclassified to profit or loss when specific
conditions are met; and
(ii)(b) will be reclassified subsequently to profit or loss when specific
conditions are metincome and expenses that will not be
reclassified to profit or loss.

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An entity shall present, in each of the categories of the statement IFRS 18.89
presenting comprehensive income, line items for:
(b)(a) the share of the other comprehensive income of associates and
joint ventures accounted for using the equity method,; and
separated into the share of items that in accordance with other
IFRSs:
(i) will not be reclassified subsequently to profit or loss; and
(ii) will be reclassified subsequently to profit or loss when
specific conditions are met.
(b) other items of other comprehensive income.
IAS 1.85A (Mark-up is not provided because the paragraph has been changed IFRS 18.24
IAS 1.85B substantially)
Profit or loss for the period
IAS 1.88 An entity shall recogniseinclude all items of income and expense in a IFRS 18.46
reporting period in the statement of profit or loss unless an IFRS
Accounting Standard requires or permits otherwise (see paragraphs 88–95
and B86).
IAS 1.89 Some IFRSsIFRS Accounting Standards specify circumstances when an IFRS 18.B86
entity recognisesincludes particular items outside the statement of profit or
loss in the current reporting period. IAS 8 specifies two such
circumstances: the correction of errors and the effect of changes in
accounting policies. Other IFRSsIFRS Accounting Standards require or
permit an entity to exclude from profit or loss components of other
comprehensive income that meet the Conceptual Framework’sFramework
for Financial Reporting’s definition of income or expense to be excluded
from profit or lossexpenses (see paragraph 7B87).
Other comprehensive income for the period
IAS 1.90 An entity shall discloseeither present in the statement presenting IFRS 18.93
comprehensive income or disclose in the notes the amount of income tax
taxes relating to each item of other comprehensive income, including
reclassification adjustments, either in the statement of profit or loss and
other comprehensive income or in the notes (see paragraphs 61A and 63
of IAS 12).
IAS 1.91 An entity may present items of other comprehensive income either: IFRS 18.94
(a) net of related tax effects,; or
(b) before related tax effects, with one amount shown for the
aggregate amount of income taxtaxes relating to those items.
If an entity electsselects the alternative (b)in paragraph 94(b), it shall IFRS 18.95
allocate the tax between the items that might be reclassified subsequently
to the profit or loss section and those that will not be reclassified
subsequently to the profit or loss sectioncategories set out in paragraph 88.
IAS 1.92 An entity shall present in the statement presenting comprehensive income IFRS 18.90
or disclose in the notes reclassification adjustments relating to components
of other comprehensive income (see paragraphs B88–B89).
IAS 1.93 Other IFRSsIFRS Accounting Standards specify whether and when IFRS 18.91
amounts previously recognisedincluded in other comprehensive income
are reclassified to profit or loss. Such reclassifications are referred to in this
Standard as reclassification adjustments. AAn entity includes a
reclassification adjustment is included with the related component of other
comprehensive income in the period that the adjustment is reclassified to
profit or loss. TheseAn entity might have included these amounts may
have been recognised in other comprehensive income as unrealised gains
in the current or previousprior periods. Those unrealised gains must be
deductedAn entity shall deduct them from other comprehensive income in
the period in which the realised gains are reclassified to profit or loss to
avoid including them in total comprehensive income twice.

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IAS 1.94 An entity may presentdisclosing reclassification adjustments in the notes IFRS 18.92
shall present in the statement(s) of profit or loss and otherpresenting
comprehensive income or in the notes. An entity presenting reclassification
adjustments in the notes presents the items of other comprehensive
income after any related reclassification adjustments.
IAS 1.95 Reclassification adjustments arise, for example, on disposal of a foreign IFRS 18.B88
operation (see IAS 21) and when some hedged forecast cash flows affect
profit or loss (see paragraph 6.5.11(d) of IFRS 9 in relation to cash flow
hedges).
IAS 1.96 Paragraph 90 requires an entity to present in the statement presenting IFRS 18.B89
comprehensive income or disclose in the notes reclassification
adjustments relating to components of other comprehensive income.
Reclassification adjustments do not arise on changes in revaluation
surplus recognised in accordance with IAS 16 or IAS 38 or on
remeasurements of defined benefit plans recognised in accordance with
IAS 19. TheseAn entity recognises these components are recognised in
other comprehensive income and aredoes not reclassifiedreclassify them
to profit or loss in subsequent reporting periods. ChangesAn entity may
transfer changes in revaluation surplus may be transferred to retained
earnings in subsequent periods as the asset is used or when it is
derecognised (see IAS 16 and IAS 38). In accordance with IFRS 9,
reclassification adjustments do not arise if a cash flow hedge or the
accounting for the time value of an option (or the forward element of a
forward contract or the foreign currency basis spread of a financial
instrument) resultresults in amounts that are removedan entity removes
from the cash flow hedge reserve or a separate component of equity,
respectively, and includedincludes directly in the initial cost or other
carrying amount of an asset or a liability. TheseAn entity transfers these
amounts are directly transferred to assets or liabilities.
Information to be presented in the statement(s) of profit or loss and other
comprehensive income or in the notes
IAS 1.97 (Mark-up is not provided because the paragraph has been changed IFRS 18.42
substantially)
IAS 1.98 (Mark-up is not provided because the paragraph has been changed IFRS 18.B79
substantially)
IAS 1.99 (Mark-up is not provided because the paragraph has been changed IFRS 18.78
IAS 1.100 substantially)
IAS 1.101
IAS 1.102 (Mark-up is not provided because the paragraph has been changed IFRS 18.80
substantially)
IAS 1.103 (Mark-up is not provided because the paragraph has been changed IFRS 18.81
substantially)
IAS 1.104 (Mark-up is not provided because the paragraph has been changed IFRS 18.83
substantially)
IAS 1.105 (Mark-up is not provided because the paragraph has been changed IFRS 18.B80
substantially)

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Statement of changes in equity

Information to be presented in the statement of changes in equity
IAS 1.106 An entity shall present a statement of changes in equity as required by IFRS 18.107
paragraph 10. The statement of changes in equity shall includes the
following information:
(a) total comprehensive income for the reporting period, showing
separately the total amounts attributable to owners of the parent
and to non-controlling interests;
(b) for each component of equity, the effects of retrospective
application or retrospective restatement recognised in accordance
with IAS 8; and
(c) [deleted]
(d)(c) for each component of equity, a reconciliation between the
carrying amount at the beginning and the end of the period,
separately (as a minimum) disclosingpresenting changes resulting
from:
(i) profit or loss;
(ii) other comprehensive income; and
(iii) transactions with owners in their capacity as owners,
showing separately contributions by and distributions to
owners and changes in ownership interests in subsidiaries
that do not result in a loss of control.
Information to be presented in the statement of changes in equity or in the
notes
IAS 1.106A For each component of equity an entity shall either present, either in the IFRS 18.109
statement of changes in equity or disclose in the notes, an analysis of
other comprehensive income by item (see paragraph 106(d)(ii)107(c)(ii)).
IAS 1.107 An entity shall either present, either in the statement of changes in equity or IFRS 18.110
disclose in the notes, the amount of dividends recognised as distributions to
owners during the reporting period, and the related amount of dividends per
share.
IAS 1.108 In paragraph 106107, the components of equity include, for example, each IFRS 18.111
class of contributed equity, the accumulated balance of each class of other
comprehensive income and retained earnings.
IAS 1.109 Changes in an entity’s equity between the beginning and the end of the IFRS 18.112
reporting period reflect the increase or decrease in its net assets during the
period. Except for changes resulting from transactions with owners in their
capacity as owners (such as equity contributions, reacquisitions of the
entity’s own equity instruments and dividends) and transaction costs
directly related to such transactions, the overall change in equity during a
period represents the total amount of income and expenseexpenses,
including gains and losses, generated by the entity’s activities during that
period.
IAS 1.110 IAS 8 requires retrospective adjustments to effectfor changes in accounting IFRS 18.108
policies, to the extent practicable, except when the transition
provisionsrequirements in another IFRS Accounting Standard require
otherwise. IAS 8 also requires restatements to correct errors to be made
retrospectively, to the extent practicable. Retrospective adjustments and
retrospective restatements are not changes in equity, but they are
adjustments to the opening balance of retained earnings, except when an
IFRS requiresAccounting Standards require retrospective adjustment of
another component of equity. Paragraph 106(b)107(b) requires disclosure
an entity to present in the statement of changes in equity of the total
adjustment to each component of equity resulting from changes in
accounting policies and, separately, from corrections of errors. TheseAn
entity shall present these adjustments are disclosed for each prior
reporting period and the beginning of the period.

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Statement of cash flows

IAS 1.111 (Mark-up is not provided because the paragraph has been changed IFRS 18.3
substantially)
Notes
Structure
IAS 1.112 The notesAn entity shall disclose in the notes: IFRS 18.113
(a) present information about the basis of preparation of the financial
statements (see paragraphs 6A–6N of IAS 8) and the specific
accounting policies used in accordance with(see paragraphs
117–12427A–27I of IAS 8);
(b) disclose the information required by IFRSsIFRS Accounting
Standards that is not presented elsewhere in the primary financial
statements; and
(c) provideother information that is not presented elsewhere in the
primary financial statements, but is relevant tonecessary for an
understanding of any of them (see paragraph 20).
IAS 1.113 An entity shall, as far as practicable, present notes in a systematic manner IFRS 18.114
(see paragraph B112). In determining a systematic manner, the entity shall
consider the effect on the understandability and comparability of its
financial statements. An entity shall cross-reference each item in the
primary financial statements of financial position and in the statement(s) of
profit or loss and other comprehensive income, and in the statements of
changes in equity and of cash flows to any related information in the notes.
If amounts disclosed in the notes are included in one or more line items in
the primary financial statements, an entity shall disclose in the note the line
item(s) in which the amounts are included.
IAS 1.114 Paragraph 114 requires an entity to present notes in a systematic manner, IFRS 18.B112
so far as is practicable. Examples of systematic ordering or grouping of the
notes include:
(a) giving prominence to the areas of its activities that thean entity
considers to be most relevantimportant to an understanding of its
financial performance and financial position, such as grouping
together information about particular operatingbusiness activities;
(b) grouping together information about items measured similarly
such as assets measured at fair value; or
(c) following the order of the line items in the statement(s) of profit or
loss and other comprehensive incomefinancial performance and
the statement of financial position, such as:
(i) statement of compliance with IFRSsIFRS Accounting
Standards (see paragraph 166B of IAS 8);
(ii) material accounting policy information (see paragraph
11727A of IAS 8);
(iii) supporting information for items presented in the statements
statement of financial position and in, the statement(s) of
profit or loss and other comprehensive incomefinancial
performance, and in the statementsstatement of changes in
equity and the statement of cash flows, in the order in which
each statement is provided and each line item is presented;
and
(iv) other disclosures, including:
(1 ) contingent liabilities (see IAS 37) and unrecognised
contractual commitments; and
(2 ) non-financial disclosures, eg—for example thean entity’s
financial risk management objectives and policies (see
IFRS 7).
IAS 1.116 An entity may presentdisclose notes providing information about the basis IFRS 18.115
of preparation of the financial statements and specific accounting policies
asused in a separate section of the financial statements.

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Capital

IAS 1.134 An entity shall disclose in the notes information that enables users of its IFRS 18.126
financial statements to evaluate the entity’s objectives, policies and
processes for managing capital.
IAS 1.135 To comply with paragraph 134126, the an entity disclosesshall disclose in IFRS 18.127
the followingnotes:
(a) qualitative information about its objectives, policies and processes
for managing capital, including:
(i) a description of what it manages as capital;
(ii) when an entity is subject to externally imposed capital
requirements, the nature of those requirements and how
those requirements are incorporated into the management
of capital; and
(iii) how it is meeting its objectives for managing capital.
(b) summary quantitative data about what it manages as capital.
Some entities regard some financial liabilities (egfor example,
some forms of subordinated debt) as part of capital. Other entities
regard capital as excluding some components of equity (egfor
example, components arising from cash flow hedges).
(c) any changes in (a) and (b) from the previouspreceding reporting
period.
(d) whether during the reporting period it complied with any externally
imposed capital requirements to which it is subject.
(e) when the entityit has not complied with such externally imposed
capital requirements, the consequences of such non-compliance.
TheAn entity bases theseshall base the note disclosures in paragraph 127 IFRS 18.128
on the information provided internally to key management personnel.
IAS 1.136 An entity may manage capital in a number of ways and be subject to a IFRS 18.129
number of different capital requirements. For example, a conglomerate
may include entities that undertake insurance activities and banking
activities and those entities may operate in several jurisdictions. When an
aggregate disclosure of capital requirements and how capital is managed
would not provide useful information or distortswould distort a financial
statement user’s understanding of an entity’s capital resources, the entity
shall disclose separate information for each capital requirement to which
the entity is subject.
Other disclosures
IAS 1.137 An entity shall disclose in the notes: IFRS 18.132
(a) the amount of dividends proposed or declared before the financial
statements were authorised for issue but not recognised as a
distribution to owners during the reporting period, and the related
amount per share; and
(b) the amount of any cumulative preference dividends not
recognised.
IAS 1.138 An entity shall disclose the following, ifIf not disclosed elsewhere in IFRS 18.116
information published with the financial statements, an entity shall disclose
in the notes:
(a) the domicile and legal form of the entity, its country of
incorporation and the address of its registered office (or principal
place of business, if different from the registered office);
(b) a description of the nature of the entity’s operations and its
principal activities;
(c) the name of the parent and the ultimate parent of the group; and
(d) if it is a limited-life entity, information regarding the length of its
life.

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