Impact of IFRS 18 Implementation in Financial Reporting

Samuel; Enefiok Ndarake; Dr. Eno Ukpong; Dr. Uwem E. Uwah

doi:10.56201/jafm.v10.no10.2024.pg132.143

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Impact of IFRS 18 Implementation in Financial Reporting

Samuel, Enefiok Ndarake, Dr. Eno Ukpong and Dr. Uwem E. Uwah

Abstract

IFRS 18 Presentation and Disclosure in Financial Statements was released by the International Accounting Standards Board (IASB) in April of 2024. This new standard will assist businesses in giving information about their financial performance that helps readers of financial statements evaluate the likelihood that the firm will receive net cash inflows in the future and the management's ability to manage the company's financial resources. It will have a big impact on many businesses using IFRS since it marks the end of a large standard-setting initiative regarding the presentation of financial statements.

Keywords

ComparabilityAccounting languageAccounting Standards.

References

Madawaki, A. (2012). Adoption of International Financial Reporting Standards in developing countries: The case of Nigeria. International Journal of Business and Management, 7(3), 152-161. https://doi.org/10.5539/ijbm.v7n3p152. International Accounting Standards Board. (n.d.). IFRS 18: Presentation and Disclosure of Financial Statement.. IFRS Foundation. Retrieved from https://www.ifrs.org Google search; Power Play Global Strategy. https://www.pwc.com/gx/en.html Klynveld Peat Marwick Goerdele (KPMG) International Limited; IFRS 18: Presentation and Disclosure in the Financial Statement. Retrieved from https://assets.kpmg.com>kpmg>pdf>2024/04

Impact of IFRS 18 Implementation in Financial Reporting

Abstract

Keywords

References

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