iGAAP Alert: June 2011IASB issues amendments to IAS 1 on presentation of items of other comprehensive income |
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- iGAAP Alert: June 2011
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IASB issues amendments to IAS 1 on presentation of items of other comprehensive income- Area: Audit
Background
The amendments to IAS 1 retain the option to present profit or loss and other comprehensive income in either a single continuous statement or in two separate but consecutive statements.
However, items of other comprehensive income are now required to be grouped into those that will and will not subsequently be reclassified to profit or loss. Tax on items of other comprehensive income is required to be allocated on the same basis.
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IASB issues amendments to IAS 1 on presentation of items of other comprehensive income (PDF)
