Beyond the GAAP editions

Since IFRS 18 was published in April 2024, preparations for its entry into force on 1 January 2027 have been gathering pace. The IASB has continued its work on clarifying certain points regarding application of the standard, as shown by its recent publication of targeted amendments to IAS 28 on the fair value option. However, many issues remain unresolved: the IFRS IC’s meeting agenda for this month was largely focused on IFRS 18, resulting in seven tentative agenda decisions, which are open for comment until 9 September.

This month, the IASB and IFRS IC have continued their work on supporting the implementation of IFRS 18 from 2027 onwards, signing off four new agenda decisions – including an eagerly-awaited decision on the presentation of a foreign exchange difference from an intragroup monetary liability (or asset).

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