On or about 29 October 2020, the International Financial Reporting Standards (IFRS) Foundation has published a proposed taxonomy update to assist in the high-quality tagging of information provided in primary financial statements that.
The changes include a number of common practice disclosures, including on EPS reporting. The proposed changes aim to support the high-quality tagging of information presented in primary financial statements and include:
- new elements showing common reporting practice, e.g. new line items for disclosures related to earnings per share and the transition to new IFRS Standards; and
- new and amended labels to clarify the accounting meaning and intended usage of some existing elements.
The deadline for submitting comments is 5 January 2021.
Source: ISCA[media release], 29 October 2020, accessed 5 November 2020.