cflox Provides Information on the Amendment to IAS 7 and IFRS 7 by the International Accounting Standard Board

Hamburg, 02.05.2024

An amendment standard adopted following the IFRS IC's agenda decision in May 2023 requires additional disclosures on supply chain financing in the notes to the financial statements. They are intended to clarify for users of financial statements the effects of such agreements on the company's liabilities and cash flows as well as on liquidity risks and their management.

The standard setter has refrained from specifying the disclosure rules. At the same time, it underlines the need to base the classification of liabilities for balance sheet reporting purposes solely on the reporting principles of IAS 1 and not on their individually understood business financing function. 

Since 2024, companies have been obliged to provide qualitative and quantitative information on financing agreements with suppliers.


Specifically, IAS 7 and IFRS 7 require companies to disclose the following in future:

- Description of the contractual terms of such financing transactions;

- Disclosure of balance sheet items and carrying amounts at the beginning and end of the period for such transactions;

- range of payment terms for such transactions and in comparison for other liabilities;

- Risk concentrations, in particular with payment service providers.


These amendments are mandatory for financial years beginning on or after January 1, 2024. In the first reporting year, disclosures for previous years do not have to be made or adjusted. No such disclosures are required for interim periods during the first reporting year either.


About cflox

cflox is an international payment institution that combines payment transactions with working capital and financing to create unique solutions. With a focus on supply chain finance, cflox offers its customers the optimization of payment terms and cash flow without the involvement of suppliers.

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Press contact

Leonie Bauer

Content & Communications Manager

cflox GmbH

Gaußstraße 190c

22765 Hamburg


T   +49 1639267362



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