Comments sought on exposure drafts

At BDO, we provide comments locally to the Australian Accounting Standards Board (AASB) and internationally to the International Accounting Standards Board (IASB). We welcome any client comments on exposure drafts that are currently available for comment. If you would like to provide any comments please contact Aletta Boshoff.



Comments due to AASB by

Comments due to IASB by

ED 298 General Presentation and Disclosures

The ED proposes a new structure for the statement of profit or loss that is more prescriptive and aligns with the presentation in the cash flow statement.

Proposals include that income and expenses be classified and included in profit or loss in the following categories:

  • Operating
  • Investing
  • Financing
  • Integral associates and joint ventures
  • Income tax
  • Discontinued operations.

In addition, the ED proposes the following new subtotals in the statement of profit or loss:

  • Operating profit
  • Operating profit or loss and income and expenses from integral associates and joint ventures, and
  • Profit or loss before financing and income tax.

The prescriptive nature of the proposals is intended to improve comparability between entities and industries by requiring specific items to be included in the various subtotals.

The ED also proposes that all management performance measures (same measures used in public announcements), be disclosed and reconciled in a single note to the financial statements.

15 May 2020

30 June 2020