Profit that is reported other than in accordance with International Financial Reporting Standards (IFRS) in
annual reports, profit announcements or other company reporting can be called non-IFRS profit. Non-IFRS
profit can be described in a number of ways and the most commonly used is underlying profit/earnings. Other
terms include non-statutory profit, alternative earnings, alternative performance measures, cash earnings/basis
(commonly used in banks), non-GAAP earnings, earnings before interest and tax (EBIT) and earnings before
interest, tax, depreciation and amortisation (EBITDA). Some not-for-profit entities might disclose a surplus
from operational activities as an alternative performance measure.