Primary Financial Statements – International Accounting Standards Board

Date recorded:

At its meeting on March 23-24, 2021, the IASB met to begin redeliberating the proposals in the Exposure Draft, General Presentation and Disclosures, relating to:

  1. subtotals and categories in the statement of profit or loss, by discussing the requirement for, and the definition of, operating profit;
  2. management performance measures, including the potential expansion of their scope beyond income and expense subtotals; and
  3. amendments to the statement of cash flows, including the scope of amendments and some of the specific proposals.

The Board will continue to redeliberate the project proposals at a future meeting.

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

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