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The International Accounting Standards Board (IASB) is redeliberating proposals in the Exposure Draft General Presentation and Disclosures. The Exposure Draft, published in December 2019, proposes to improve how information is communicated in the financial statements, with a focus on information in the statement of profit or loss. The IASB discussed feedback on the Exposure Draft in December 2020 and January 2021. 

IASB® Update June 2022

The IASB met on 20 June 2022 to redeliberate the proposals in its Exposure Draft General Presentation and Disclosures relating to:

  • general requirements for additional line items and subtotals; and
  • the use of columns for presenting management performance measures.

Use of columns to present management performance measures, and general requirements for additional line items and subtotals (Agenda Paper 21A)

The IASB tentatively decided:

  1. to add a requirement, based on the discussion in paragraphs BC31 and BC165 of the Basis for Conclusions accompanying the Exposure Draft, for additional subtotals and line items presented in the statement(s) of financial performance to fit into the structure of the categories required in the Accounting Standard. All 10 IASB members agreed with this decision.
  2. to withdraw the proposal to specifically prohibit the use of columns for presenting management performance measures in the statement(s) of financial performance. Nine of 10 IASB members agreed with this decision.

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IFRS Accounting Standard