Introduction and background: There was a continuous demand from the investors for more relevant information and transparency in the presentation of companies’ financial statements. Investors also want greater comparability between financial statements and more consistency in financial measures presented. In response, in April 2024, the International Accounting Standards Board (IASB) issued IFRS 18 – Presentation and Disclosure in Financial Statements , a new standard that replaces IAS 1 after nearly two decades. The introduction of IFRS 18 marks one of the most significant reforms in how entities present their financial performance, aiming to make financial statements more comparable, transparent, and decision-useful for investors and other stakeholders. IFRS 18 has impact on companies across different industries. Although net profit will remain unchanged, entities will see changes to the structure of their statement of profit or loss. For some, the changes will be significant, d...