IAS 1 Operating and Ordinary Activities
The Board, in its Exposure Draft of Improvements to IAS 1 proposed deleting the requirement that the line items: “the results of operating activities” and “profit or loss from ordinary activities” be presented. Because some entities are likely to continue presenting these line items, either voluntarily or because they are required to (eg by local law), the IFRIC discussed whether it would be appropriate for it to give guidance on the types of items that would not be included in operating activities and ordinary activities.
Decision not to add
The IFRIC agreed not to take this item on its agenda because it would be best dealt with as part of the joint IASB / FASB project on Reporting Comprehensive Income.
IFRIC reference: IAS 1