Financial statement presentation — Other comprehensive income
This project involves a proposal for a possible limited scope amendment to IAS 1 Presentation of Financial Statements that would require all entities to present a single statement of comprehensive income, so removing the 'two statement approach' (separate statements of income and comprehensive income) currently permitted by IAS 1.
This project arose out of the comprehensive project on financial statement presentation.
Current status of the project
This project has been completed, but the option of using two statements has ultimately been retained. The IASB issued Presentation of Items of Other Comprehensive Income (Amendments to IAS 1) on 16 June 2011.
|October 2009||Added to the IASB's active agenda|
|27 May 2010||Exposure Draft ED/2010/5 Presentation of Items of Other Comprehensive Income||Comment deadline 30 September 2010|
|6 June 2011||Staff draft of amendments to IAS 1 published|
|16 June 2011||Presentation of Items of Other Comprehensive Income (Amendments to IAS 1) published||Applicable to annual periods beginning on or after 1 July 2012|