... 'Reporting Financial Performance'. The proposals will change the existing requirement on reporting financial performance and it will reflect the shift in views internationally towards reporting comprehensive income. The proposal remains the information set approach of FRS 3. the FRED propose that such information on dividends, earnings per shares should be shown as memorandum items at the foot of the statement. Notes to the single performance such as a reserve notes and historic gains and losses are also specified. One of the developments from FRS 3 is that the profit and loss account and the statement of total recognized gains and losses are combined to form a single statement of financial performance. "The idea that is emerging, largely within the IASB, but explicitly as a eventual basis for convergence by ASB and other national regulatory bodies, is for a single statement of financial performance replacing, or combining depending on your point of ...

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