Management commentary
Background
The objective of this project is to develop a model for a narrative report, that would accompany but be presented outside of the financial statements, setting out management's explanation of the enterprise's financial condition, changes in financial condition, results of operations, and causes of changes in material line items. The output of the project will be a 'best practice' guidance document rather an an IFRS.
Current status of the project
This project has been completed. The IASB issued IFRS Practice Statement Management Commentary on 8 December 2010.
Project milestones
| Date | Development | Comments |
|---|---|---|
| 27 October 2005 | Discussion Paper Management Commentary published | Comment deadline 28 April 2006 |
| 23 June 2009 | Exposure Draft ED/2009/9 Management Commentary published | Comment deadline 1 March 2010 |
| 8 December 2010 | IFRS Practice Statement Management commentary issued | An entity may apply the Practice Statement to management commentary presented prospectively from 8 December 2010. |
