Deloitte comment letter on general presentation and disclosures
We have commented on the IASB’s exposure draft General Presentation and Disclosures, which was published by the IASB on 17 December 2019.
We support the Board’s initiative to improve how information is communicated in the financial statements, in particular the information included in the statement of profit or loss. However, we strongly disagree with the proposals on unusual items and on management performance measures (MPMs).
In addition, we support the objective of improving comparability. However, we believe that this objective will be achieved only if the underlying principles for the determination of the operating category proposed for the statement of profit or loss are expressed more clearly.
Lastly, we disagree with two proposals on classification of items in the statement of profit or loss and the proposal to present income and expenses from cash and cash equivalents as part of financing activities.
Download the full comment letter below.
