In a commentary, SMU Associate Professor of Accounting (Practice) and Associate Provost for Postgraduate Professional Education Themin Suwardy discussed how the new accounting standard by the International Accounting Standards Board, IFRS 18 – Presentation and Disclosure in Financial Statements, will herald one of the most important developments for the income statement. He explained how the new accounting rules will make it easier to compare results across companies, and give investors more transparent, consistent anchor points and comparable information about companies’ financial performance.