The European Financial Reporting Advisory Group (EFRAG) with EFFAS, BVFA/ABAF and IFRS Foundation is organising a joint outreach event, with the second of two webinars both under the title Time for a facelift? A new look for income statement disclosures on Tuesday 26th May from 17:00 to 18:15(CEST).
This second webinar is dedicated to Disclosure Requirements, IFRS, Accounting and MPMS. There is still time to register for this webinar which is a great opportunity to take part in the debate. Participants can take the opportunity to get involved in the debate through live polls and by raising questions with the speakers. Read the Programme and register online here.
The recordings for the first part held on 19th May can be accessed through registration here: http://ow.ly/WbbH50zLhyg.
The recordings for the second part held on 26th May can be accessed through registration here: https://globalmeet.webcasts.com/starthere.jsp?ei=1303529&tp_key=894cfb509a
Hans Buysse, EFFAS Executive Management Committee Member, is participating in the user Round Table Discussions and Q&A sections of the webinars. More information on the speakers who include Nick Anderson, Chiara Del Prete, Stefaan Genoe, Peter Malmqvist, Marietta Miemiety, Serge Pattyn, Saskia Slomp and Aida Vatrenjak can be found here.
The webinars relate to the Exposure Draft General Presentation and Disclosures published by the International Accounting Standards Board and the summary below is taken from EFRAG’s website.
In December 2019, the International Accounting Standards Board (the IASB) published the Exposure Draft General Presentation and Disclosures, which includes the proposals to improve how information is communicated in financial statements, with a focus on presenting income statement.
The IASB’s proposals would replace IAS 1 Presentation of Financial Statements with a new IFRS Standard that would comprise new requirements on presentation and disclosures in financial statements, as well as requirements brought forward from IAS 1.
The new requirements would include new subtotals required in income statement, as well as guidance on management performance measures (‘non-GAAP’) and non-recurring items. This event will put users at the centre of the discussions on the new structure for primary financial statements as EFRAG and EFFAS present their draft positions on the Exposure Draft.
This webinar will focus on presentation of the P&L and the cash flow statement and will include a user panel discussion and Q&A session.
This panel will discuss the benefits of the proposed new presentation of the income statement using real-life examples. The panel will also talk about potential further improvements.