General Presentation and Disclosures

Through this ED, the IASB has proposed improvements to the way information is communicated in the financial statements, with a focus on financial performance. The IASB is also proposing limited changes to the statement of cash flows and the statement of financial position. The ED requires companies to:

  •          Present 3 new defined subtotals in the statement of profit or loss, including an operating profit subtotal;
  •          Disaggregate information in a better way for investors to help them analyse companies’ earnings and forecast future cash flows, eg  identification and explanation in the notes wrt any unusual income or expenses; and
  •          Disclose information about management performance measures (‘non-GAAP’ measures) eg disclosure of subtotals of income and expenses that are not specified in IFRS Standards—in a single note to the financial statements with explanation as to how they are calculated and to provide a reconciliation to the most comparable profit subtotal specified by IFRS Standards.

The IASB proposes to issue a new IFRS Standard, replacing IAS 1 Presentation of Financial Statements, and seek responses to 14 specific questions identified in the ED.

In order to enable Indian entities to derive benefits of globally acceptable framework, it is needed to remain IFRS-converged, and therefore, consequential change in Ind AS 1, Presentation of Financial Statements will be made in Indian Context.


Comments on the abovementioned ED may be submitted through any of the following modes:




Click on "Submit a Comment Letter" below (Preferred method)





Comments can be sent to:



Secretary, Accounting Standards Board,

The Institute of Chartered Accountants of India,

ICAI Bhawan, Post Box No. 7100,

Indraprastha Marg, New Delhi 110 002


Further clarifications on this ED may be sought by e-mail to

Comment letter deadline

The Exposure Draft is open for comment until 20th March, 2020

Due process documents
General Presentation and Disclosures  [PDF]