Could profit or loss become more useful? And what is the role of other comprehensive income?, Brussels, 1 July 2015

Could profit or loss become more useful? And what is the role of other comprehensive income?
Investors are invited to join us in Brussels on 1 July 2015.

We are seeking input from investors as we consider ways to improve the usefulness of profit or loss (P&L). This will be one of the key issues we discuss with investors as part of the International Accounting Standards Board’s (IASB) project to propose changes to its Conceptual Framework for Financial Reporting.

Join us to share your views on how the P&L could better meet your needs:

  • Is P&L the starting point in your analysis? If not, what is?
  • Are there items included in the P&L that you eliminate? What are they?
  • Are there elements that you need but that you do not find in the P&L statement?
  • Are there items shown in other comprehensive income (OCI) that you include in your analysis? If you do not use OCI, why not?
  • Should bad news (adverse litigation, for example) that is expected but still uncertain be reflected earlier than good news?
  • When assets are measured at fair value through P&L, how do you treat the gains and losses associated with the changes in value during the period?
  • Do you trust P&L items more than balance sheet items?

The discussion will be led by a panel of leaders in the investment management industry and the accounting standard-setting community, including Jesùs Lopez Zaballos, Chairman of the European Federation of Financial Analysts Societies (EFFAS); Françoise Flores, Chairman of the European Financial Reporting Advisory Group’s Technical Export Group (EFRAG TEG); Patricia McBride, EFRAG Technical Director; Hans Buysse, member of EFFAS Management Committee and EFRAG Board member; Steve Cooper, IASB member and Frank Klein (Deutsche Asset & Wealth Management). As an introduction to the panel debate, the results of a study sponsored by EFRAG and the Institute of Chartered Accountants of Scotland (ICAS) of how investors use financial statements will be presented, and the implications for financial reporting will be discussed.

This event is hosted by the IASB, in conjunction with EFRAG, EFFAS and the Association Belge des Analystes Financiers (ABAF).  This event will take place at EFRAG’s offices; for further details please read the formal invitation here.

To register please send an email to event@efrag.org, including your contact details, by 24 June 2015.

This event forms part of a comprehensive programme of outreach activities to all IFRS stakeholders. Find out more about IASB investor outreach at the IASB’s Investor Centre.

Other information about the Conceptual Framework can be found here.

 

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About AIWMI

The Association of International Wealth Management of India (AIWMI) is a not-for-profit organization and a globally recognized membership association for finance professionals. AIWMI primarily focuses on the broad and strategic role of developing a more robust and forward-looking training infrastructure for the financial services sector and to promote more active industry involvement and collaboration in training and continuing education. AIWMI is offering advanced international certification programs along with a wide variety of high-quality executive education programs. AIWMI programs combine state-of-the-art knowledge and skills with practical experience and insights into the functioning of the financial sector. All AIWMI courses and educational events have an intense and pragmatic curriculum. Participants are exposed to the latest developments within the financial services sector. AIWMI plays a key role in guiding the development of the financial services sector. AIWMI works with key industry participants’ viz. the Government, the Regulators, the Industries/Associations, the Corporate, the Media and the General Public to achieve its objectives. Besides enhancing technical competence and professionalism in the industry, AIWMI organizes events and facilitates discussions to promote best practices in leadership and talent development in the financial sector with an aim to become Asia’s premier center of excellence for financial education.

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