Presentation of Financial Statements & Cash Flow

IAS 1 Presentation of Financial Statements sets out the overall requirements for financial statements, including how they should be structured, the minimum requirements for their content and overriding concepts (such as going concern basis). IAS 7 Statement of Cash Flows requires an entity to present a statement of cash flows as an integral part of its primary financial statements. In 2024, the IASB issued IFRS 18 Presentation and Disclosure in Financial Statements, which supersedes IAS 1 and will be effective for annual periods starting on or after 1 January 2027. IFRS 18 also has consequential amendments to IAS 7. During this session, we shall be exploring the existing IAS 1 requirements and how IFRS 18 will change (or retain) and add to these requirements. We shall also be discussing the main requirements of IAS 7, and how IFRS 18 will impact these existing requirements.

The Speaker

Georges Xuereb provides IFRS and GAPSME advice and delivers accounting topic papers to his clients on complex technical accounting matters. He also assists clients operating in diverse industries in the preparation of their separate and consolidated financial statements in accordance with IFRS or GAPSME. His area of focus in these diverse industries includes consolidations and business combinations and implementation of recently issued IFRSs. Georges also implements Excel-based consolidation tools to large groups to improve their consolidation reporting process, with a focus on quality and complex accounting requirements and reducing reporting timeframes. Georges delivers technical training and presentations on IFRS matters both internally to his colleagues and to his clients, and delivered lectures on the Financial Reporting and Strategic Business Reporting modules to students as part of their studies in fulfilment of the ACCA qualification.