INTERNATIONAL TECHNICAL ROUND UP – IASB PROPOSES NEW MAJOR FINANCIAL STATEMENTS STANDARD
April 19th, 2024
The International Accounting Standards Board (IASB) has proposed a new comprehensive standard - IFRS18 ‘Presentation and Disclosure in Financial Statements’, designed to give investors more transparent and comparable information about companies’ financial performance. It introduces three defined categories for income and expenses - operating, investing and financing - and requires companies to provide defined subtotals, including operating profit, aiding comparisons. IFRS18 will insist companies explain how they calculate company-specific alternative ...
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