TY - JOUR
T1 - Performance Reporting - The IASB's Proposed Formats of Financial Statements in the Exposure Draft of IAS1
AU - Thinggaard, Frank
AU - Wagenhofer, Alfred
AU - Evans, Lisa
AU - Gebhardt, Günther
AU - Hoogendoorn, Martin
AU - Marton, Jan
AU - Di Pietra, Roberto
AU - Mora, Araceli
AU - Peasnell, Ken
PY - 2006
Y1 - 2006
N2 - This paper is a response to the Exposure Draft of proposed amendments to IAS 1 Presentation of Financial Statements published by the IASB in March 2006. The objective is to bring to the standard setter’s attention research that is relevant to the issues raised in the exposure draft. We review analytic, empirical, and experimental research that addresses the presentation of income and the format of the income statement. Overall, there is some support for a single statement of (total) recognised income and expense. However, net income is on average more relevant than comprehensive income, which may favour a two-statement approach. While this result is in line with the IASB’s option of the two formats, it does not support the IASB’s preference for a single statement.
AB - This paper is a response to the Exposure Draft of proposed amendments to IAS 1 Presentation of Financial Statements published by the IASB in March 2006. The objective is to bring to the standard setter’s attention research that is relevant to the issues raised in the exposure draft. We review analytic, empirical, and experimental research that addresses the presentation of income and the format of the income statement. Overall, there is some support for a single statement of (total) recognised income and expense. However, net income is on average more relevant than comprehensive income, which may favour a two-statement approach. While this result is in line with the IASB’s option of the two formats, it does not support the IASB’s preference for a single statement.
M3 - Journal article
SN - 0963-8180
VL - 3
SP - 35
EP - 63
JO - European Accounting Review
JF - European Accounting Review
ER -