Management commentary, known in Türkiye as the annual activity report (faaliyet raporu), is a report that complements an entity's financial statements. It sets out management's view of the factors that have affected the entity's financial performance and financial position and of the factors that may affect its ability to create value and generate cash flows in the future. The final exposure draft published by the International Accounting Standards Board under the title "IFRS Practice Statement 1 Management Commentary", which contains the principles for preparing and presenting this report, has been made available to the public after an initial review so that entities can familiarise themselves with it in advance. Once approved and finalised by the IASB, "IFRS Practice Statement 1 Management Commentary" will be incorporated into Turkish legislation.
IFRS Practice Statement 1 Management Commentary (Exposure Draft) published.
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