Deloitte and the Federation of Mid-sized Enterprises to Host IFRS 18 Introduction Webinar

Presenting a Practical Application Roadmap

The Deloitte Korea Group will hold a seminar together with the Korea Federation of Mid-sized Enterprises ahead of the mandatory adoption of IFRS 18, which will take effect from the next fiscal year.

Deloitte announced that it will host a webinar titled "Practical Strategies for the Introduction of IFRS 18 with Deloitte: A Roadmap for Practical Application for Mid-sized Enterprises" at 2:00 p.m. on the 7th of next month. IFRS 18 mainly involves changes to the structure of the income statement and the definition of operating profit. This webinar will address practical response strategies that mid-sized companies can actually implement, including changes to operating profit following the adoption, restructuring of the chart of accounts, system response strategies, and practical ERP solutions.

The first session, "Practical Response Strategies for IFRS 18 for Mid-sized Enterprises: From Understanding Changes in Operating Profit to an Implementation Roadmap," will be led by Moon Hyungsik, IFRS 18 CoE Leader at Deloitte Korea Group. He will analyze the impact of IFRS 18 on operating profit and performance indicators, and will present a step-by-step response strategy and roadmap tailored to the environment of mid-sized enterprises. In the second session, Kim Jiyeong, Director of IT and Data Analytics at Deloitte Korea Group, will discuss changes to the chart of accounts (CoA) and financial statement layouts in line with the new operating profit definition, and share system maintenance strategies and practical guidance to ensure data integrity. The third session will feature Jeon Chungjae, Executive Director at Douzone Bizon, who will present practical response measures based on Douzone ERP.

This webinar can be registered for through the Deloitte Korea Group's website, and participation is free of charge. The access link to the webinar will be provided individually only to those who pre-register.

Jang Sujae, Head of Audit & Assurance at Deloitte Korea Group, stated, "We expect that this webinar will provide practical assistance to finance and accounting professionals at mid-sized companies preparing for the adoption of IFRS 18, helping them to understand the impact of these changes early and to develop feasible response strategies suitable to their own circumstances."

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