Clear IFRS 18 support as standards evolve
Implementing IFRS 18 is more than a technical accounting exercise – it reshapes how organisations present performance, communicate results and tell their financial story. But interpreting new presentation and disclosure requirements and preparing for audit can stretch resources within finance teams.
We provide practical, hands-on IFRS 18 advisory support to help you plan early, implement the new standards with confidence and keep reporting on track as standards evolve.
Combining pragmatic technical accounting advice with disciplined programme delivery and financial reporting support, we help you reduce surprises during your audit and present clearer and more meaningful financial information to stakeholders.
We offer an integrated, end-to-end service across three pillars, helping your finance function and wider business stay IFRS 18 ready.
Assess your organisation’s readiness across accounting, reporting and implementation considerations.
Our team helps companies keep up with changes to international and domestic financial reporting standards so that they have the right accounting policies and operating models to prevent unexpected surprises.
Our Finance Transformation services are designed to challenge the status quo and enable your finance team to play a more strategic role in the organisation.
Outsourcing the financial reporting function is a growing trend among middle market and startup companies, as it provides a cost-effective way to improve the finance and accounting function. Our team can help with financial statement preparation, consolidation and technical on-call advisory.
Our team helps companies keep up with changes to international and domestic financial reporting standards so that they have the right accounting policies and operating models to prevent unexpected surprises.
Outsourcing the financial reporting function is a growing trend among middle market and startup companies, as it provides a cost-effective way to improve the finance and accounting function. Our team can help with financial statement preparation, consolidation and technical on-call advisory.
Our Finance Transformation services are designed to challenge the status quo and enable your finance team to play a more strategic role in the organisation.
IFRS 18 ‘Presentation and Disclosure in Financial Statements’ is a new standard that will replace the existing IAS 1 ‘Presentation of Financial Statements’. It aims to improve clarity, comparability, and transparency in financial reporting, especially around profit or loss presentation.
IFRS 18 significantly changes how financial performance is presented in the statement of profit or loss.
To improve consistency and comparability across entities, companies must classify all income and expenses into defined categories – operating, investing, financing, income taxes and discontinued operations.
In addition, companies will need to present two standardised subtotals – operating profit and profit before financing and income taxes.
These changes reshape the structure of the income statement and enhance transparency while not altering recognition or measurement principles.
IFRS 18 applies to all entities that prepare their financial statements in accordance with IFRS Accounting Standards. This includes listed companies, private enterprises, and not‑for‑profit organisations across all industries.
Singapore has adopted IFRS 18 through its local equivalent, SFRS (I) 18 or SFRS 118, with the same effective date of 1 January 2027. This means Singapore‑incorporated companies will need to comply with the new presentation and disclosure requirements, including reclassification of income and expenses and restatement of comparative information.
IFRS 18 is effective for annual reporting periods beginning on or after 1 January 2027, with earlier application permitted. Entities that early adopt IFRS 18 are required to disclose that fact in the notes to the financial statements.
To be ready to apply IFRS 18 from 1 January 2027, entities should begin their gap analysis and system assessment now, ensure systems are live in 2026 to capture and classify comparative information, and prepare to issue their first fully IFRS 18‑compliant annual report for 2027 with restated 2026 figures; entities that prepare quarterly results will also need to present IFRS 18‑compliant Q1 2027 financial statements.
We know that every business is unique, so we work closely with you to understand your needs wherever you're at. We’ve worked with organisations from different sectors for their IFRS financial statements, and can tap on our past experience to bring you deep insights and tailor practical solutions that help you achieve your objectives.
Bringing finely tuned local knowledge together with global expertise from over 150 markets in the Grant Thornton network, we help you see the bigger picture so that you can make your next move with confidence.
Our experienced technical accountants bring deep knowledge of primary financial statements and related consequential amendments, so that you can navigate the evolving reporting requirements with clarity and confidence.
We combine technical accounting expertise with proven programme delivery skills to prepare clear, audit-aligned documentation and technical memos, reducing iteration and supporting a smoother sign-off process.
With a strong understanding of the regulatory expectations, we help you implement IFRS 18 efficiently and confidently – keeping your reporting on track as standards evolve.
In this webinar recording, we break down the key changes introduced by IFRS 18, what they mean in practice, and how they may impact your financial reporting processes, systems and stakeholder communication.
Our ‘Insights into IFRS 2’ series explains the fundamentals of accounting for share-based payments and helps reporting entities navigate the complexities of the Standard. This article outlines the basic principles for share-based payment arrangements with employees, including grant date, vesting period and fair value considerations.
Our ‘Insights into IFRS 2’ series explains the fundamentals of accounting for share-based payments and helps reporting entities navigate the complexities of the Standard. This article explains the classification of share-based payment transactions and vesting conditions, and how these affect the accounting requirements under IFRS 2.