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EFRAG, EFFAS/ABAF, and IASB announce joint outreach event on profit or loss and OCI

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19 May 2015

The European Financial Reporting Advisory Group (EFRAG), the European Federation of Financial Analysts Societies (EFFAS) and the Association Belge des Analystes Financiers (ABAF), and the International Accounting Standards Board (IASB) have announced a new joint outreach event will be held on 1 July 2015 to discuss how profit or loss (P&L) could become more useful and what the role of other comprehensive income (OCI) is.

In particular, the outreach event is seeking input from investors on ways to improve the usefulness of P&L and will discuss the following questions with the participants:

  • Is P&L the starting point in your analysis? If not, what is?
  • Are there items included in the P&L that you eliminate? What are they?
  • Are there elements that you need but that you do not find in the P&L statement?
  • Are there items shown in OCI that you include in your analysis? If you do not use OCI, why not?
  • Should bad news (adverse litigation, for example) be reflected earlier than good news that is expected but still uncertain?
  • When assets are measured at fair value through P&L, how do you treat the gains and losses associated with the changes in value during the period?
  • Do you trust P&L items more than balance sheet items?

Registration for this event is requested by 24 June 2015.

For more information, see the press release on the EFRAG website.

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