December 2023
The UKEB has recently adopted Supplier Finance Arrangements: Amendments to IAS 7 Statement of Cash Flows and IFRS 7 Financial Instruments: Disclosures (the Amendments), issued by the IASB in May 2023.The Amendments complement the existing disclosure requirements in IFRS Accounting Standards and are aimed at providing users of financial statements with information to assess the effect of supplier finance arrangements on an entity’s liabilities, cash flows and exposure to liquidity risk.The Amendments are effective for annual reporting periods beginning on or after 1 January 2024, with early application permitted.
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Source: www.frc.org.uk