IASB issues Amendments to IAS 1: Presentation of Items of Other Comprehensive Income

The IASB  issued today amendments to IAS 1 that will improve and align the presentation of items of other comprehensive income (OCI) in financial statements prepared in accordance with IFRSs and those prepared in accordance with US GAAP. 
The FASB today issued an Update to Topic 220: Presentation of Comprehensive Income that brings US GAAP into alignment with IFRSs for the presentation of OCI.
The amendments to IAS 1 Presentation of Financial Statements are effective for financial years beginning on or after 1 July 2012.

Please find the press release herewith attached.