26/10/2026
IFRS 18 replaces IAS 1 on 1 January 2027. Your 2026 books must be ready first.
The new P&L uses five categories: operating, investing, financing, income taxes, discontinued operations. Operating profit becomes defined. Subtotals become mandatory. Adjusted profit measures move into an audited note.
How you measure profit does not change. How you present it changes completely. And the first IFRS 18 accounts need restated 2026 comparatives.
That makes 2026 the year to act:
1. Re-map your chart of accounts to the five categories.
2. Inventory every adjusted measure you report externally.
3. Dry-run the restatement before your year-end close.
Odoo handles this well. Account groups and analytic tags map to the IFRS 18 categories once, then 2026 comparatives build themselves in the ledger.
Full readiness guide is live on taxample.com - link in bio.
Getting ready for 2027? Comment ODOO and we will walk your setup in a free 15-minute demo.