Version 11 - April 2026 (CUD release)
Content update information
The CUD Release focuses on the legislative content changes for the Period Ending December 2026.
- Financial Period Type: 12 months (Annual)
- Target Industry Type: Manufacturing, Services, and Generic (excluding Financial Services)
IFRS legislative changes
- Classification and Measurement of Financial Instruments – Amendments to IFRS 9 and IFRS 7
- Contracts Referencing Nature-dependent Electricity – Amendments to IFRS 9 and IFRS 7
- IFRS 18 – Presentation and Disclosure in Financial Statements
- IFRS 19 – Subsidiaries without Public Accountability: Disclosures
- Translation to a Hyperinflationary Presentation Currency – Amendments to IAS 21
- Disclosures about Uncertainties in the Financial Statements
- Sale or Contribution of Assets between an Investor and its Associate or Joint Venture – Amendments to IFRS 10 and IAS 28
- IFRS Practice Statement 1: Management Commentary (Revised)
- Annual Improvements to IFRS Accounting Standards — Volume 11
Early adoption standards
- The amendments will be effective for annual reporting periods beginning on or after 1 January 2026. Entities can early adopt the amendments that relate to the classification of financial assets plus the related disclosures and apply the other amendments later. The new requirements will be applied retrospectively with an adjustment to opening retained earnings. Prior periods are not required to be restated and can only be restated without using hindsight. An entity is required to disclose information about financial assets that change their measurement category due to the amendments.
- Note: Although the Final Model Content for 2026 is still in the progress the final scope will be defined later, and it is likely that these changes will have impact on all entities in the scope.
- Effective for annual periods beginning on or after 1 January 2026. The amendments relating to the own-use exception must be applied retrospectively. An entity is not required to restate prior periods, and it is only permitted to do so if this can be done without using hindsight. The hedge accounting amendments must be applied prospectively to new hedging relationships designated on or after the date of initial application. The IFRS 7 disclosure amendments must be applied when the IFRS 9 amendments are applied. If an entity does not restate comparative information, then the entity must not present comparative disclosures.
- noteAlthough the Final Model Content for 2026 is still in the progress the final scope will be defined later, but it is likely that these changes will have impact on all entities.
- Effective for annual periods beginning on or after 1 January 2027. IFRS 18, and the consequential amendments to the other accounting standards, is effective for reporting periods beginning on or after 1 January 2027 and must be applied retrospectively. Early adoption is permitted and must be disclosed.
- noteThis will be included in Model Content 2026 (the early adoption has been already included covered in 2025).
- Effective for annual periods beginning on or after 1 January 2027. IFRS 19 is effective for reporting periods beginning on or after 1 January 2027 and earlier adoption is permitted. If an eligible entity chooses to apply the standard earlier, it is required to disclose that fact. An entity is required, during the first period (annual and interim) in which it applies the standard, to align the disclosures in the comparative period with the disclosures included in the current period under IFRS 19, unless IFRS 19 or another IFRS accounting standard permits or requires otherwise.
- noteAlthough the Final Model Content for 2026 is still in the progress the final scope will be defined later, but it is unlikely that these changes will have impact on all entities.
- Effective for annual periods beginning on or after 1 January 2027. The amendments apply for annual reporting periods beginning on or after 1 January 2027 and earlier application is permitted. If an entity's functional currency and presentation currency are the currency of a hyperinflationary economy (or are the currencies of different hyperinflationary economies) and it translates the results and financial position of foreign operations whose functional currency is that of a non hyperinflationary economy, then it is required to apply the amendments from the beginning of the annual reporting period in which it first applies the amendments. In addition, it restates the comparative amounts of its foreign operations included in the entity's previously issued financial statements by applying the general price index it applies to corresponding figures in accordance with paragraph 34 of IAS 29.
- noteAlthough this change is applicable as of 1 January 2027 and allows early adoption, it will not be in the scope of the Final Model Content for 2026.
- Entities are entitled to sufficient time to implement any changes as a result of the illustrative examples. The examples do not have an effective date or transition requirements. Entities are entitled to sufficient time to implement any changes as a result of the illustrative examples.
- Note: Final Model Content for 2026 is still in the progress the final scope will be defined later, the scope will be assessed later.
- In December 2015, the IASB decided to defer the effective date of the amendments until such time as it has finalized any amendments that result from its research project on the equity method. Early application of the amendments is still permitted and must be disclosed. The amendments must be applied prospectively.
- noteAlthough the Final Model Content for 2026 is still in the progress this is likely to be out of scope of Model Content.
- Companies are permitted to apply the revised guidance in the Practice Statement (revised PS) to financial statements prepared any time after 23 June 2025. The revised PS is not an IFRS accounting standard, and an entity can prepare IFRS compliant financial statements without preparing management commentary that complies with the revised PS.
- noteAlthough the Final Model Content for 2026 is still in the progress the final scope will be defined later, but it is unlikely that these changes will be covered within Model Content.
- The IASB's annual improvements process deals with non-urgent, but necessary, clarifications and amendments to IFRS. In July 2024, the IASB issued Annual Improvements to IFRS Accounting Standards — Volume 11. The following is the summary of the amendments from the Annual Improvements to IFRS Accounting Standards-Volume 11:
- noteThese are improvements published by IASB but not specific new standards, if the standard is applicable to the example used in Model Content this will be reflected within the updates for 2026.
Standard & Area | Amendment Details | Effective Date & Application |
|---|---|---|
IFRS 1 First-time Adoption of International Financial Reporting Standards | Hedge Accounting by a First-time Adopter
| Annual reporting periods beginning on or after 1 January 2026. Earlier application is permitted. |
IFRS 7 Financial Instruments: Disclosures | Gain or Loss on Derecognition
| Annual reporting periods beginning on or after 1 January 2026. Earlier application is permitted. |
Guidance on implementing IFRS 7 Financial Instruments: Disclosures (Introduction) | Introduction
| Annual reporting periods beginning on or after 1 January 2026. Earlier application is permitted. |
Guidance on implementing IFRS 7 Financial Instruments: Disclosures (Disclosure of Deferred Difference between Fair Value and Transaction Price) | Disclosure of Deferred Difference between Fair Value and Transaction Price
| Annual reporting periods beginning on or after 1 January 2026. Earlier application is permitted. |
Guidance on implementing IFRS 7 Financial Instruments: Disclosures (Credit Risk Disclosures) | Credit Risk Disclosures
| Annual reporting periods beginning on or after 1 January 2026. Earlier application is permitted. |
IFRS 9 Financial Instruments (Lessee Derecognition of Lease Liabilities) | Lessee Derecognition of Lease Liabilities
| Annual reporting periods beginning on or after 1 January 2026. Earlier application is permitted. |
IFRS 9 Financial Instruments | Transaction Price
| Annual reporting periods beginning on or after 1 January 2026. Earlier application is permitted. |
IFRS 10 Consolidated Financial Statements | Determination of a De Facto Agent
| Annual reporting periods beginning on or after 1 January 2026. Earlier application is permitted. |
IAS 7 Statement of Cash Flows | Cost Method
| Annual reporting periods beginning on or after 1 January 2026. Earlier application is permitted. |
Table of mandatory application
New pronouncement | Note | Effective date* | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Classification of Liabilities as Current or Non-current and Non-current Liabilities with Covenants – Amendments to IAS 1 | 1 | 1 Jan 2024 | 2025 | 2025 | 2025 | 2025 | 2025 | 2025 | 2025 | 2025 | 2025 | 2025 | 2025 | 2024 |
Lease Liability in a Sale and Leaseback – Amendments to IFRS 16 | 2 | 1 Jan 2024 | 2025 | 2025 | 2025 | 2025 | 2025 | 2025 | 2025 | 2025 | 2025 | 2025 | 2025 | 2024 |
Disclosures: Supplier Finance Arrangements – Amendments to IAS 7 and IFRS 7 | 3 | 1 Jan 2024 | 2025 | 2025 | 2025 | 2025 | 2025 | 2025 | 2025 | 2025 | 2025 | 2025 | 2025 | 2024 |
Lack of exchangeability – Amendments to IAS 21 | 4 | 1 Jan 2025 | 2026 | 2026 | 2026 | 2026 | 2026 | 2026 | 2026 | 2026 | 2026 | 2026 | 2026 | 2025 |
Classification and Measurement of Financial Instruments – Amendments to IFRS 9 and IFRS 7 | 5 | 1 Jan 2026 | 2027 | 2027 | 2027 | 2027 | 2027 | 2027 | 2027 | 2027 | 2027 | 2027 | 2027 | 2026 |
Contracts Referencing Nature-dependent Electricity – Amendments to IFRS 9 and IFRS 7 | 6 | 1 Jan 2026 | 2027 | 2027 | 2027 | 2027 | 2027 | 2027 | 2027 | 2027 | 2027 | 2027 | 2027 | 2026 |
IFRS 18 – Presentation and Disclosure in Financial Statements | 7 | 1 Jan 2027 | 2028 | 2028 | 2028 | 2028 | 2028 | 2028 | 2028 | 2028 | 2028 | 2028 | 2028 | 2027 |
IFRS 19 – Subsidiaries without Public Accountability: Disclosures | 8 | 1 Jan 2027 | 2028 | 2028 | 2028 | 2028 | 2028 | 2028 | 2028 | 2028 | 2028 | 2028 | 2028 | 2027 |
Translation to a Hyperinflationary Presentation Currency – Amendments to IAS 21 | 9 | 1 Jan 2027 | 2028 | 2028 | 2028 | 2028 | 2028 | 2028 | 2028 | 2028 | 2028 | 2028 | 2028 | 2027 |
Amendments to Illustrative Examples on IFRS 7, IFRS 18, IAS 1, IAS 8, IAS 36 and IAS 37 | 10 | Note 10 | ||||||||||||
Sale or Contribution of Assets between an Investor and its Associate or Joint Venture – Amendments to IFRS 10 and IAS 28 | 11 | Note 11 |
*Effective for annual periods beginning on or after this date.
**Assuming that an entity has not early adopted the pronouncement according to specific provisions in the standard, interpretation or amendment.
note
The examples do not have an effective date or transition requirements. Entities are entitled to sufficient time to implement any changes as a result of illustrative examples.
note
In December 2015, the IASB postponed the effective date of this amendment indefinitely pending the outcome of its research project on the equity method of accounting.
Additional information
This overview covers year-end reporting until 31 December 2026. Therefore also pronouncements with effective date 1 January 2026 are included as these shall be applied for the first time for financial years ended at e.g. 31 January 2026.
If the
first time applied in annual periods ending on the last day of the month
is December 2026, this means that a Company with a year ending 31 December 2025 would apply this standard for the annual period ending 31 December 2025, i.e. applicable for the reporting period from 1 January 2026 until 31 December 2026.For changes based on local GAAP, refer to the country specific templates.
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