IFRS newsletter - English - May 2010

Just a few days apart in May, the IASB and FASB published their jointly developed proposals on presentation of items contained in Other Comprehensive Income (OCI). However, these proposals could be seen as something of a smokescreen…

What is the point of ensuring comparability in terms of presentation of items of OCI if the use of this category, in particular for recognition of financial instruments, differs from one set of standards to another? The FASB’s simultaneous publication of an exposure draft on financial instruments seems to announce a short-term failure for convergence... Otherwise, what will be the price of convergence?

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IFRS newsletter - English - Mai 2010

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