Accounting and Capital Markets Round-Up

June 2024
Hi,

Here are your articles on accounting updates for the month.

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MFRS 18 Presentation and Disclosure in Financial Statements

On 14 June 2024, MFRS 18 ‘Presentation and Disclosure in Financial Statements’ was issued to replace MFRS 101 ‘Presentation of Financial Statements’. MFRS 18 is effective for annual reporting periods beginning on or after 1 January 2027, with earlier application permitted. Some key changes introduced by the new MFRS are: 

  • requiring defined categories (i.e. operating, investing and financing) and subtotals in the statement of profit or loss;
  • requiring disclosures about management-defined performance measures; and
  • adding new principles for aggregation and disaggregation of information
Read our Insights to find out more.
Topical issues to consider when preparing 30 June 2024 MFRS financial statements

In this latest Insights, we discuss the accounting implications of the topical issues that entities with 30 June 2024 year end should consider, such as, geopolitical risk, disclosures relating to inflation and interest rates, impairment of non-financial assets, identifying insurance contract, Global minimum tax, offsetting in the financial statements, climate change and connectivity between sustainability and financial reporting, and accounting items that are often overlooked.
The Capital Markets & Accounting Advisory Services (CMAAS) team provides solutions on accounting, financial reporting and capital market matters. Talk to us
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