IFRS 18 is not about labels

"We were thinking of hiring someone who is also a mother for the first time." -"We look for an Eastern European woman for our corporate talent program."

These sentences were said - independently of each other - by two good-hearted men, at two separate occasions I applied for an opportunity.

Getting to know them and working with them later, I became absolutely certain, that they did not want me to feel uncomfortable.

It was simply the way these men tried to talk to, include and encourage a person, which was different from “the standard.”

I received both opportunities and loved the time spent there.

And years later I still ask myself whether I got the chances because of my skills...or because of the “labels”.

IFRS 18 Presentation and Disclosure in Financial Statements is perceived by many as a "label" exercise.

Classify, categorize, put the right label on.

In my opinion, it is quite the opposite.

Look at the core of your business and forget for a moment those categories (operating, investing, financing, income tax and discontinued operations).

IFRS 18 is a chance to look below the dusty labels and discover what actually matters.

⏩ Todays carousel is about Other Comprehensive Income in accordance with the IFRS 18, in a nutshell.