The project aimed to address the lack of distinction between different items in OCI and the lack of clarity in the presentation of items in OCI.

• Lack of distinction between different items in OCI. A range of very different items are presented in OCI without any distinctions. However, some of the items presented in OCI can have a considerable effect on the overall financial performance of an entity.
• Lack of consistency in presentation. Existing requirements give entities an option to present items of OCI. There are however substantially more options under US GAAP, than IFRS.
• Lack of comparability between IFRS and US GAAP. US GAAP and IFRSs currently differ on the presentation of OCI items.

Under the proposals, profit or loss and OCI are displayed consecutively.

The Board believes it is important that all income and expenses that are components of the total non-owner changes in equity should be presented together.

Preservation of profit or loss:

• The Board recognises the importance of profit or loss (the net income line) and is committed to maintaining this important number.
• There will be no changes to how earnings per share are calculated. 
• The attribution of profit or loss between the parent shareholders of the entity and its non-controlling interest will also remain.

The Board is also proposing that items in OCI are grouped on the basis of whether they are reclassified from OCI to profit or loss. This will address the issue that some of the items that are presented within OCI, such as cash flow hedges, are eventually re-presented as part of the profit or loss section (IAS 1 calls this reclassification) whilst others, such as asset revaluations, are not.

In addition to that the IASB is proposing to use the title of �statement of profit or loss and other comprehensive income� for the statement containing all items of income and expense. The proposals do not dictate how the statement of profit or loss and other comprehensive income would be presented. Apart from the proposed titles, totals and subtotals in this amendment, entities are still allowed to use other titles for the statement.