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Effective date of IAS 1 OCI amendments

When Jun 30, 2012
from to
Timezone UTC +1
Where London
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The IASB issued Presentation of Items of Other Comprehensive Income (Amendments to IAS 1) on 16 June 2011.

The amendments:

  • Preserve the amendments made to IAS 1 in 2007 to require profit or loss and OCI to be presented together, i.e. either as a single 'statement of profit or loss and comprehensive income', or a separate 'statement of profit or loss' and a 'statement of comprehensive income' – rather than requiring a single continuous statement as was proposed in the exposure draft
  • Require entities to group items presented in OCI based on whether they are potentially reclassifiable to profit or loss subsequently. i.e. those that might be reclassified and those that will not be reclassified
  • Require tax associated with items presented before tax to be shown separately for each of the two groups of OCI items (without changing the option to present items of OCI either before tax or net of tax).

The amendments are applicable to annual periods beginning on or after 1 July 2012.

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