IASB Proposes New Standard on General Presentation and Disclosures in Financial Statements

The IASB has published an exposure draft (ED), General Presentation and Disclosures.

The ED would create a new IFRS® Standard to replace IAS 1, Presentation of Financial Statements, and would amend various other IASB Standards. The proposal is intended to “improve how information is communicated in the financial statements, with a focus on information about performance [of] the statement of profit or loss.”

Comments on the ED are due by June 30, 2020.

For more information, see the press release and ED on the IASB’s Web site.