IFRS 2027 Readiness: IFRS 18 and IFRS for SMEs

Two changes reach every reporting entity in 2027. IFRS 18 Presentation and Disclosure in Financial Statements replaces IAS 1 for annual periods beginning on or after 1 January 2027. It changes how every entity reporting under IFRS Accounting Standards presents its statement of profit or loss: five categories, two required subtotals, disclosure of management-defined performance measures, and new rules on how information is grouped in the statements and the notes. The third edition of the IFRS for SMEs Accounting Standard, issued in February 2025, is effective for the same periods: it rewrites the concepts, business combinations, revenue and fair value sections, aligns consolidation with IFRS 10, and removes the IAS 39 option for financial instruments.

This course takes you through both standards the way you will apply them. You will classify real income and expense items, build the new statement of profit or loss, prepare the MPM reconciliation note, and restate comparatives on transition. IFRS 18 is covered twice, recorded from the Kenaz executive workshops: once for finance teams, explaining what preparers need to do to apply each requirement, and once for auditors, explaining what to focus on and the evidence to obtain. The IFRS for SMEs area walks through the third edition section by section, with the simplification against full IFRS, a worked application and the audit watch points. One price gives you all three syllabus areas.

Designed for financial controllers, reporting accountants, external and internal auditors, and ACCA and DipIFR candidates who already work with IAS 1, and accountants and auditors of SMEs moving to the third edition. Notes for entities in Saudi Arabia, including the presentation of Zakat, are covered where the treatment differs.

Get your 2027 financial statements right – enroll in IFRS 2027 Readiness today.