CFA Society Austria is happy to invite you to a workshop on the new income statement structure following the introduction of IFRS 18 with an IASB Board member.

Who: 

Florian Esterer, Board Member IASB (International Accounting Standards Board)

Mr Esterer joined the IASB on 1 April 2023 for a five-year term. He brings robust investor experience, including experience in sustainable investment. He recently worked at Bank J. Safra Sarasin as Head of Core Equities, leading a team of portfolio managers and analysts who manage the bank’s regional and discretionary equity investment strategies. Previously, he worked at Swisscanto as head of global equities and at MainFirst Asset Management as a senior portfolio manager. Mr Esterer is a CFA charterholder, has served as a board member and was CFA Society Switzerland for nine years, and is currently member of the Disciplinary Review Comittee of the CFA Institute. 

What: 

CFA Society Austria members are invited to a round table discussion to collaborate and consult on the topic of IFRS 18 – restructuring the income statement

This workshop gives an overview of the key changes introduced by IFRS 18 that investors can expect from companies once they begin reporting under the new requirements latest next year.

Key topics covered will include:

Improved structure and detail in the P&L:

• ·The webinar will go into the detail of the three defined categories for income and expenses that IFRS 18 introduces—operating, investing and financing—to improve the structure of the income statement. Companies will also be required to provide new defined subtotals, including operating profit. The improved structure and new subtotals will give investors a consistent starting point for analysing companies’ performance and make it easier to compare companies.

• The webinar will also give an overview on the enhanced guidance IFRS 18 has introduced about how to organise information and whether to provide it in the primary financial statements or in the notes. The changes are expected to provide more detailed and useful information.

Transparency into non-GAAP earnings measures:

• The webinar will go into a deep-dive about the IFRS 18 requirement for companies to disclose explanations of company-specific measures that are related to the income statement, referred to as management-defined performance measures. The new requirements will improve the discipline and transparency of management-defined performance measures, and make them subject to audit.

The workshop will highlight how investors' might need to change their financial models using examples from companies which adopted IFRS18 early.

Food & Drinks will be provided.

2 hours of CE/PD and MIFID Credits will be provided.

Registration via Email:  Kathrin.schneeweiss@cfaaustria.org