IFRS 18 applies from 1 January 2027 — comparatives must be restated

IFRS 18 Presentation and Disclosure in Financial Statements replaces IAS 1 for annual reporting periods beginning on or after 1 January 2027, with early application permitted.

It introduces two defined subtotals in the statement of profit or loss — operating profit and profit before financing and income taxes — requires disclosure of management-defined performance measures, and sets new principles for aggregation and disaggregation.

Source: IFRS Foundation

General professional commentary, not advice for any specific entity.

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