Dataline: Financial Statement Presentation -- A Look at the FASB and IASB's Staff Draft (Revised February 3, 2011*) (No. 2010-35)

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In July 2010, the FASB and IASB (the "boards") issued a 'Staff Draft' of the Exposure Draft on Financial Statement Presentation ("staff draft") to facilitate additional outreach efforts. The staff draft contains significant changes from the discussion paper issued in 2008 and incorporates much of the feedback from comment letters and field tests. This PwC Dataline discusses the key tentative decisions reached by the boards and reflected in the staff draft, together with information the firm has obtained through its observations of board meetings and project updates published by the boards.

* The At a glance (third bullet),Background (paragraph 2),and Next steps (paragraph 16) sections of this Dataline were revised to reflect the Boards' decision at their October joint meeting to delay activities on the project until after June 2011.