Why IFRS 18 matters to you

From 1 January 2027, IFRS 18 replaces IAS 1 as the standard governing the presentation and disclosure of financial statements. This isn't a change to how you recognise or measure items; recognition and measurement requirements remain unchanged. It's a change to how you present your performance.

The impact is real and the timeline is closer than it appears. Comparative-period data collection begins in January 2026, and the Zambia Institute of Chartered Accountants is encouraging early adoption ahead of the 2027 deadline. Understanding these changes now gives you the confidence to prepare, not react.

What you'll find in the memo

Our IFRS 18 memo gives you a clear, structured guide to the new standard and a practical path to readiness:

  • A new operating profit subtotal. Understand the mandatory subtotal that brings greater consistency and comparability to your income statement.
  • New income classifications. See how income and expenses are grouped into operating, investing, and financing categories.
  • Audited performance measures. Learn how Management-defined Performance Measures, including adjusted EBITDA, must now be disclosed and audited.
  • Our five-phase implementation approach. Follow RSM Zambia's structured method for a smooth, confident transition.
  • Key timeline milestones. Map out the critical dates, starting January 2026, so nothing catches you off guard.

 

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