Effective date: IFRS 18 applies for annual reporting periods beginning on or after 1 January 2027, with earlier application permitted. IFRS 18 Presentation and Disclosure in Financial Statements changes how companies structure and explain financial performance. It replaces IAS 1, introduces a more defined structure for the statement of profit or loss, creates new disclosure requirements for certain management-defined performance measures, and strengthens the principles for aggregation and disaggregation. The standard does not generally change how revenue, assets, liabilities or expenses are measured. Its main effect is presentation and disclosure. That still makes implementation a systems and controls project: finance teams need the right account mapping, reporting logic, comparative data, management-measure governance and audit evidence before the first IFRS 18 reporting period. Why finance teams should prepare before 2027 For a calendar-year entity, the first mandatory IFRS ...