This year's profit is already an IFRS 18 number

IFRS 18 replaces IAS 1 for financial years starting on or after 1 January 2027, and because comparatives must be restated, this year's profit is already part of the change. This guide explains who the standard applies to, the five new categories in the statement of profit or loss, the narrow investing and financing rules, management-defined performance measures and the cash flow changes. It includes a worked example and a checklist for practitioners and finance teams preparing now.