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📘 New IFRS Standard Alert – IFRS 18

A major change in financial reporting is coming.

IFRS 18 – Presentation and Disclosure in Financial Statements will replace IAS 1 and introduce a more structured income statement, clearer subtotals, and improved disclosure of management performance measures.

These changes aim to improve transparency, comparability, and clarity in financial statements.

Businesses and finance professionals should start preparing early for the transition.

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Hedge accounting helps companies align the impact of derivatives with the risk being hedged, so financial statements reflect the true economic effect.

Under IFRS 9, there are three main types of hedge accounting:

• Fair Value Hedge
• Cash Flow Hedge
• Net Investment Hedge

I have summarized the definitions, examples, and journal entries in the visual below for quick understanding.

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Palmclear Services

Running a business in the UAE requires proper financial compliance.

With our Complete Compliance Package, your company can stay fully compliant while focusing on growth.

Avoid penalties. Stay compliant. Grow with confidence.

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Starting a business is only the first step.
Setting up proper accounting from the incorporation date is essential for compliance with UAE VAT and Corporate Tax regulations.

Avoid future problems, penalties, and disorganized records.

Let professionals set up your accounting system correctly from the beginning.

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Running a business is challenging. Let professionals handle your accounting, bookkeeping, VAT, and corporate tax while you focus on growth.

Contact Palmclear Services today for reliable financial support.

Running a business in the UAE comes with many compliance requirements. From accounting and bookkeeping to corporate tax, audits, and company formation — we handle it all for you.

Stay focused on growing your business while our professionals manage your financial and regulatory obligations.

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Late submission of your UAE Corporate Tax Return can result in significant penalties.

AED 500 per month for the first 12 months of delay, and AED 1,000 per month from the 13th month onward.

Avoid unnecessary fines and stay compliant with UAE tax regulations.

Palmclear Services can assist you with Corporate Tax compliance, accounting, and bookkeeping.

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Many UAE businesses assume Corporate Tax registration is mandatory for everyone — but the law provides important exemptions.
Understanding whether your entity must register can help you stay compliant and avoid penalties.

Need guidance on UAE Corporate Tax compliance?
Contact us today.

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New IFRS amendments applicable for 2025 financial statements clarify how companies should account for situations where currencies cannot be exchanged. Businesses must estimate exchange rates using reasonable assumptions and provide clear disclosures to improve transparency and compliance.

Stay compliant with IFRS standards.

Contact us for professional accounting support:
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Corporate tax deadline is approaching. Avoid penalties and stay compliant with professional bookkeeping, VAT, and corporate tax services by Palmclear Services. Trusted experts for UAE businesses.

Avoid the AED 10,000 penalty for late Corporate Tax registration in the UAE.
Register your business on time with Palmclear Services.

We offer FTA-compliant Corporate Tax Registration for only AED 150.
🎯 30% OFF for the first 50 clients

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Stay compliant. Register today.