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Deloitte comment letter on ED/2010/5 'Presentation of Items of Other Comprehensive Income'

Published on: 29 Sep 2010

Whilst we do not object to the proposals in the ED, we would like to stress that the Board has not yet concluded on the fundamental principles of what constitutes performance, what represents Other Comprehensive Income (“OCI”) and the conceptual basis for whether items in OCI should or should not be recycled.

The Board should continue to consider these issues as part of its Financial Statement Presentation project and the outcome of the ED should not in any way pre-empt the outcome of these discussions. Although the Board has chosen to limit the scope of the ED to OCI presentation matters, in our view it would have been preferable to address the broader conceptual issues related to performance and OCI and recycling in advance of addressing the presentation of OCI.

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