Question 11: Definition of an APM; Paragraph 17 to 19 of the APMs Guidelines.

Date last updated: July 2017

Question: Is 'result of operating activities' an APM for the purpose of the APMs Guidelines?

Answer: Unless the applicable financial reporting framework defines or specifies "result of operating activities", this measure is an APM for the purpose of the APMs Guidelines.

Despite the fact that there is a reference in paragraph 55 of the Basis for Conclusion of IAS 1 Presentation of Financial Statements to 'results of operating activities', operating results or results from operating activities are not defined or specified in IFRS.

Therefore, under the IFRS framework, measures labelled as 'operating results', 'results of operating activities' or other similar labels are within the scope of the APMs Guidelines when presented outside financial statements.

In case such APMs are presented inside and outside financial statements please refer to question 2.