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While the use of APMs is subject to regulation in most jurisdictions, MFRS 18's objective is to increase transparency and discipline, by making MPMs subject to the same disclosure requirements regardless of the entity’s jurisdiction. To meet this objective MFRS 18 requires entities to pull into a single financial statement note, all disclosures concerning measures identified by management as ‘management-defined performance measures’. For these newly defined MPMs, MFRS 8 requires the disclosure of the income tax effect, as well as the effect on non-controlling interests, for each item disclosed in the reconciliation of MPMs to Malaysian Financial Reporting Standards subtotals or totals. This represents a new requirement, even for most jurisdictions with existing regulations on APMs.
This publication series sets out a high-level overview of MFRS 18’s new requirements, along with practical insights into the application challenges. In this series we will be looking at the management-defined performance measures.
How we can help
We hope you find the information in this article helpful in giving you some insight into aspects of MFRS 18. If you would like to discuss any of the points raised, please speak to your usual Grant Thornton contact.
