IASB wants to broaden comprehensive income reporting requirements

05/28/2010 | WebCPA

The standards for presenting items under other comprehensive income would be changed under a proposal by the International Accounting Standards Board, which was jointly developed with the U.S. Financial Accounting Standards Board. The two boards have opened the public comment period on the proposed changes. "If adopted, these proposals will result in further convergence of IFRS and U.S. GAAP in an increasingly important part of the financial statements," said IASB Chairman David Tweedie.

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