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ACCAACCA SBR Cheat Sheet: IFRS 18, Consolidation and Sustainability Reporting
ExpertMinds Editorial·3 June 2026·9 min read
Practice ACCA questions while you read →Key fact:SBR exam: 3-hour 15-minute CBE · 100 marks · Section A (2 compulsory questions, 50 marks each) + Section B (2 questions, choose 2 of 3, 25 marks each). IFRS 18 is examinable from September 2025.
IFRS 18 — Statement of Profit or Loss (replaces IAS 1 for P&L from 2025)
| Category | Includes |
|---|---|
| Operating | Revenue, COGS, operating expenses — the core business activities |
| Investing | Income/expenses from assets not integral to main operations (associates, financial assets, IP licensing) |
| Financing | Interest on financial liabilities, unwinding of discount on provisions |
| Income tax | Separate mandatory category |
| Discontinued operations | Separate mandatory category |
Key fact:Management Performance Measures (MPMs): IFRS 18 requires disclosure of subtotals management uses internally and that are not defined by IFRS (e.g., "Adjusted EBITDA"). Companies must reconcile MPMs to IFRS line items, explain why they are used, and apply consistently.
IFRS 9 — Financial Instruments Classification
| Category | Measurement | Condition |
|---|---|---|
| Amortised cost | Effective interest method | Business model: hold to collect; SPPI test passes |
| FVOCI (debt) | Fair value; gains/losses in OCI recycled to P&L on disposal | Business model: hold to collect and sell; SPPI passes |
| FVTPL | Fair value; gains/losses in P&L | All other financial assets; or designated to eliminate accounting mismatch |
| FVOCI (equity) | Fair value; gains/losses in OCI permanently (not recycled) | Irrevocable election for equity instruments not held for trading |
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IFRS 15 — Revenue Five-Step Model
- Step 1: Identify the contract(s) with a customer
- Step 2: Identify the performance obligations in the contract
- Step 3: Determine the transaction price
- Step 4: Allocate the transaction price to performance obligations (based on standalone selling prices)
- Step 5: Recognise revenue when (or as) each performance obligation is satisfied
IFRS S1 and S2 — Sustainability Disclosures
| Standard | Scope |
|---|---|
| IFRS S1 | General sustainability-related financial disclosures — governance, strategy, risk, metrics for all sustainability matters |
| IFRS S2 | Climate-specific disclosures — physical risks, transition risks, Scope 1/2/3 emissions, scenario analysis |
Tip:SBR examiner frequently tests the boundary between IFRS S1/S2 (investor-focused, financial materiality) and ESRS (EU-based, double materiality — financial AND impact on environment/society). Know which framework applies and that they coexist — ESRS is mandatory for large EU companies; IFRS S1/S2 is the global baseline.
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