Registration Time: 13:15
Sessions Time: 13:30 - 16:45  including a 15-minute break
Speaker: Mr Kevin Vassallo
Venue:   Online Webinar

Participation Fees 
MIA Members: €40.00
Non-MIA Members: €75.00
Retired Members: €20.00
Students: €30.00

*Group bookings for 3 or more participants available.

BACKGROUND INFORMATION

In April 2024, the IASB issued IFRS 18 Presentation and Disclosure in Financial Statements. This standard sets out the overall requirements for the presentation and disclosure in financial statements. It requires an entity to present a complete set of financial statements at least annually, with comparative amounts for the preceding year (including comparative amounts in the notes). IFRS 18 replaces IAS 1 Presentation of Financial Statements.

The IASB did not reconsider all aspects of IAS 1 when developing this new standard, but instead focused on the statement of profit or loss. In this regard, the standard aims to improve financial reporting by:

• requiring an entity to present two new defined subtotals in the statement of profit or loss—operating profit and profit before financing and income taxes.

• requiring an entity to disclose management-defined performance measures—subtotals of income and expenses not specified by IFRS Accounting Standards that are used in public communications to communicate management’s view of an aspect of a company’s financial performance; and

• adding new principles for aggregation and disaggregation of items.

SPECIFIC TOPICS TO BE COVERED DURING THE SESSION

• General requirements for financial statements

• Aggregation and disaggregation

• Statement of P/L

• Statement presenting comprehensive income

• Statement of financial position

• Statement of changes in equity

• Notes application guidance

• Board approvals

Why is the session of relevance to our members?

The seminar will discuss the objective, scope, key definitions and the general requirements for financial statements outlined in the standard, in particular the enhanced discipline in non-GAAP metrics in the form of management-performance-measures. Members and non-members will therefore benefit from the seminar’s content by appreciating the increased financial transparency and improved comparability across entities that has been introduced by the standard and that will allow for better decision making.

Target Audience

Practitioners, analysts and members of other professions eager to understand the financial information presented in general purpose financial statements.

Speaker's Profile

Kevin Vassallo is a certified public accountant by profession who holds a post-graduate degree in the science of finance. He is currently Chief Officer Treasury and Projects at the Malta Development Bank, having previously occupied the post of Director Finance at the MFSA. Prior to that, he was a senior executive at the Central Bank of Malta for 28 years where he gained valuable experience in accounting, internal audit, human resources management, portfolio management and financial risk management. He has been lecturing and delivering CPE seminars for the past 25 years. His areas of expertise include accounting and financial management and he has in the past lectured in related subjects for ACCA, ACA and various MBA programmes.

EVeNT CPE COMPETENCies

3  Core

WEBINARS TERMS AND CONDITIONS

Terms and conditions  apply

DISCLAIMER

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Please note that all webinars are recorded by the MIA. Such recordings will be retained by the MIA for internal use.