World Accounting Report
Primary Financial Statements
The Board renewed its discussion on the primary financial statements by discussing the terminology used in the previous meeting.
Staff suggested that the term “key performance measure” should be replaced by “key financial measure of profit or comprehensive
income”. Furthermore, rather than referring to “a measure specified or defined in IFRS standards”, the reference could be
to “sub-totals or totals required in IFRS standards for the statements of financial performance”. Following on from the decisions
taken in the last meeting, these terms would then be used as follows: