The International Accounting Standards Board
(IASB) is seeking comments on proposals that aim to improve the
consistency of how items of other comprehensive income (OCI) are
presented in financial statements.

The IASB proposals would require companies to
present profit or loss and OCI in separate sections of a continuous

The IASB is also proposing to group items in
OCI on the basis of whether they will eventually be recycled into
the profit or loss section of the income statement.

IASB chair David Tweedie said the IASB has
recently published several proposals that broaden the use of

“It is therefore appropriate that this
information is presented clearly and in a uniform manner,” he

The IASB proposals have been jointly developed
with the US Financial Accounting Standards Board (FASB). If
adopted, they will result in further convergence of IFRS and US

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Comments are due by 30 September.