The emerging plan to overhaul the presentation of information contained in financial statements is getting calls for a lot more work from all sides of the financial reporting community.
The Financial Accounting Standards Board and the International Accounting Standards Board are working on a joint project to reformat financial statements to change the way information is provided to investors and others who use and read financial statements. The goal was to create a more cohesive financial picture that better links information in the three financial statements, to provide more breakdown on certain line items, and to provide more information about liquidity and financial flexibility.
