Financial statement presentation – Other comprehensive income

Date recorded:

Effective date

The IASB is expected to issue its standard related to financial statement presentation of other comprehensive income during mid-June. The Board had previously made a tentative decision that the effective date for the amendments would be for periods beginning on or after 1 January 2012. However, the FASB has recently decided to require an effective date for periods beginning on or after 1 July 2012. As the IASB usually provides at least twelve months for implementation of new standards, and to coincide with the effective date of the FASB, the Board tentatively agreed to delay the effective date until periods beginning on or after 1 July 2012.

This discussion concluded the 31 May to 2 June IASB meeting.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.