The discussion paper contains an analysis of the current issues in financial statement presentation and presents the boards' views on how those issues could be addressed in a possible future format.
The discussion paper contains an analysis of the current issues in financial statement presentation and presents the boards' views on how those issues could be addressed in a possible future format.
IASB and FASB propose to introduce cohesiveness and disaggregation as the two main objectives for financial statement presentation. Cohesiveness would ensure that a reader of financial statements can follow the flow of information through the different statements of an entity; disaggregation would ensure that items that respond differently to economic events are shown separately. To achieve these main objectives the boards have developed a principle-based format that is presented in the discussion paper.
Deadline for comments is 14 April 2009.
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Discussion paper
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© IASB - International Accounting Standards Board
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