Financial statement presentation – Other comprehensive income
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.