Performance Reporting

Date recorded:

(Comprehensive Income)

The Board was updated on the work of the Joint International Group on Performance Reporting (JIG). After discussing the structure of the project (the issues within Segments A and B) in the context of how to proceed, the Board tentatively decided that the staff should commence work on an exposure draft dealing with Segment A issues only. That exposure draft would consist of a detailed preamble designed to communicate clearly, the intentions of the Board on issues such as the single statement and the fact that there would be no emphasis placed on the comprehensive income amount in Segment A (as opposed to net profit). While preparing the exposure draft, the FASB would be consulted about how best to proceed and if it is decided that a discussion paper is necessary, the exposure draft would be converted into a discussion paper format.

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