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16 Jul. 2020

Primary Financial Statements: Asia-Oceania Virtual Academic Research Seminar, with the IASB and AASB

The International Accounting Standards Board (IASB) in conjunction with the Australian Accounting Standards Board (AASB) will hold a virtual research seminar for academics across the Asia-Oceania region on 21 August 2020, from 3pm-5pm AEST. The seminar will provide an overview of the IASB’s General Presentation and Disclosures Exposure Draft (ED) and relevant academic literature.

The proposals in this project are pervasive and would affect everyone applying IFRS Standards; with the aim to improve communication in the financial statements, with a focus on the statement of profit or loss.

The purpose of the session is to obtain feedback from academics on the proposals in the ED and to discuss relevant academic evidence.  The seminar will be structured in three sections:
1) Subtotals in the Statement of Profit or Loss;
2) Disaggregation, and
3) Management performance measures.

Moderated by the AASB, the session will include a short presentation by IASB staff, followed by questions and comments from the audience to be addressed by IASB staff and Board members, Ann Tarca and Tom Scott.