Exposure Draft on Presentation of Items of Other Comprehensive Income: proposed amendments to IAS 1
The International Accounting Standards Board (IASB) has issued Exposure Draft on proposed amendments to IAS 1 Presentation of Financial Statements to improve the presentation of items of other comprehensive income (OCI). At present entities have an option in IAS 1 to present either a statement of comprehensive income or two separate statements of profit or loss and other comprehensive income. This exposure draft proposes to require that entities present profit or loss and other comprehensive income in separate sections of a continuous statement.
Comments should be submitted in writing to the Secretary, Accounting Standards Board, The Institute of Chartered Accountants of India, ICAI Bhawan, Post Box No. 7100, Indraprastha Marg, New Delhi-110002, so as to be received not later than August 16, 2010. Comments can also be sent by e-mail at firstname.lastname@example.org or email@example.com.