At its meeting on March 21, 2018, the International Accounting Standards Board (the Board) tentatively decided to consider the feedback received on the following Discussion Paper topics within the Primary Financial Statements project and not within the Disclosure Initiative—Principles of Disclosure project:

1. roles of the primary financial statements and the notes;
2. presentation of EBIT and EBITDA;
3. presentation of unusual or infrequently occurring items; and
4. fair presentation of performance measures.

The Board tentatively decided not to pursue the following Discussion Paper topics any further within the Disclosure Initiative—Principles of Disclosure project:

1. guidance on the use of formatting in the financial statements;
2. guidance on the location of accounting policy disclosures; and
3. location of disclosure objectives and requirements in IFRS Standards. 

The Board decided to perform a targeted Standards-level review of disclosure requirements. Specifically, the Board tentatively decided to:

1. develop guidance for the Board itself to use when developing and drafting disclosure requirements;
2. identify one or two IFRS Standards on which to test the guidance developed for the Board;
3. test the guidance for the Board by applying it to the Standard(s) identified in (b); and
4. prepare an Exposure Draft of amendments to the disclosure requirements of the Standard(s) identified in (b).

At a future meeting, the Board will discuss:

1. the relationships between the Better Communication projects;
2. whether and how to further pursue considerations in the Discussion Paper about the location of information and which accounting policies to disclose;
3. whether and how to consider the effect of technology and digital reporting within the scope of the project;
4. the content of guidance for the Board to use when developing and drafting disclosure requirements; and
5. which Standard(s) should be the subject of the Board’s targeted Standards-level review.

Review the IASB® Update and podcast on the Board's Web site.