AASB 18 Presentation and Disclosure in Financial Statements 121-123: Disclose all management-defined performance measures in a single note with the required statement, a clear label, the aspect of performance conveyed and why it is useful, the calculation, a reconciliation to the nearest Standard subtotal, and the tax and non-controlling interest effects of each reconciling item

What does 121-123 require?

The disclosure objective is to help users understand the aspect of performance management conveys with each measure and how it compares with Standard-defined measures. All measures meeting the definition must be disclosed in one note stating that the measures reflect management's view of one aspect of whole-entity performance and may not be comparable with other entities' similarly labelled measures. Each measure must be labelled and described clearly and without misleading users, and the note must give for each: a description of the aspect of performance conveyed and why management considers it useful; how it is calculated; a reconciliation to the most directly comparable paragraph 118 subtotal or Standard-required total or subtotal; the income tax effect of each reconciling item and its effect on non-controlling interests; and a description of how the tax effect is determined under the application guidance.