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IFRS in Focus — IASB proposes changes to the presentation of profit or loss and other comprehensive income

Published on: Jun 07, 2010

On May 27, 2010, the IASB published ED/2010/5 Presentation of Items of Other Comprehensive Income (proposed amendments to IAS 1).

The exposure draft (ED) is the result of a joint project with the FASB. It proposes a limited amendment to IAS 1 regarding the presentation of items contained in other comprehensive income (OCI) and their classification within OCI.

The ED proposes the following:

  • Presentation of profit or loss and OCI as separate components in a single financial statement
  • Separate presentation in OCI of items that will be reclassified to profit or loss in a subsequent period.

The ED does not change the items that must be reported in OCI, but focuses on their presentation within the OCI section of the single, continuous statement.

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