IAS 1 Amendments - Presentation of Financial Statements: Revised Presentation

The IASB had a project on its agenda dedicated to Performance Reporting. In 2006, the IASB and FASB decided to conduct a joint project and to change its objective to address the financial statements presentations issues only, therefore the project was renamed to Financial Statements Presentation.

The project was split into phases.

The first phase (Phase A) addressed a complete set of financial statements and requirements to present comparative information. The IASB issued a revised version of IAS 1 in September 2007.

The revised IAS 1 (2007) has been endorsed in the EU.