Douzone Bizon, an enterprise resource planning (ERP) specialist, said on May 12 it will hold a nationwide roadshow seminar for corporate practitioners ahead of the mandatory application of International Financial Reporting Standard 18 (IFRS 18) in 2027.

The seminar will begin in Seoul on May 14 and be held sequentially in five cities including Busan, Daejeon, Daegu and Gwangju.

IFRS 18 calls for a more detailed structure of three main categories in the income statement, including operating, investing and financing, and standardises the method for calculating operating profit. Financial reporting standards will be strengthened, including the presentation of intermediate totals, changes in the starting point for the cash flow statement and disclosure of management performance measures (MPMs).

Douzone Bizon stressed that companies must complete system implementation within this year as IFRS 18 will be applied starting with disclosures in the first quarter of next year. Because companies must disclose comparative financial statements for 2026, it is essential to manage financial data from this year in parallel under IFRS 18 standards. The later the implementation, the more data accumulates for retrospective conversion and verification.

The seminar curriculum consists of an overview of IFRS 18 and its requirements, preparations for applying the OmniEsol and Amaranth 10 systems, and system implementation procedures. It will also provide individual practical consultations during a question-and-answer session.

The core of Douzone Bizon's response strategy is automation logic within ERP. Key functions include dual-view financial statements that allow IFRS 18 standards to be reviewed simultaneously while maintaining the existing chart of accounts, automatic splitting and reconfiguration of past voucher data to fit the new standards, automation of foreign currency settlement and valuation gains and losses, and support for MPMs disclosure through the group integrated management solution (GSP) module.

A Douzone Bizon official said, "Through this seminar, we will present a practical response roadmap that minimises trial and error so that client companies can proactively respond to changes in global accounting standards."