Profit or Loss views debated
International bodies debate the usefulness of Profit or Loss at Brussels event.
International accounting and finance bodies will be seeking input from investors as they consider ways to improve the usefulness of Profit or Loss (P&L).
They will debate how P&L could better meet needs at an EFRAG, EFFAS, ABAF and IASB combined event in Brussels on 1 July.
The event is primarily aimed at investors and analysts, with some places still available. Organisers are particularly keen to invite users to share their views.
The discussion will be led by a panel, including Steve Cooper, IASB Board Member, and the event will seek to inform the IASB on its Conceptual Framework project.
The preliminary results of a large pan-European research study, sponsored by ICAS and EFRAG, will be presented at the event by Professor Mark Clatworthy and Professor Joachim Gassen. This study investigates the use of information by professional investors and will be published later this year. This is a follow-on to an earlier ICAS/EFRAG study on the same topic.
Michelle Crickett, ICAS Director of Research, said, "I am pleased that the research being undertaken by ICAS and EFRAG will inform this event. The research is being undertaken to influence future standard setting and the IASB's conceptual framework debate.
"It is important that we understand the views of investors, as the primary users of financial statements, if we are to ensure that financial statements meet investors' needs and perform their role in the capital markets. I look forward to attending the event."