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IASB Amendment: “IAS 1, Presentation of Financial Statements”

Monday, July 17, 2006

The Financial Reporting Committee (the "Committee") of the Institute of Management Accountants (IMA) appreciates the opportunity to provide its views to the International Accounting Standards Board (the "IASB" or "Board") on the Proposed Amendments to lAS 1, Presentation of Financial Statements (the "Exposure Draft" or "Proposed Statement"). The IMA is a membership organization of nearly 65,000 management accountants and finance professionals. The lMA helps its members to develop and advance their careers through its Certified Management Accountant (CMA®) and Certified Financial Manager (CFM®) programs, cutting-edge professional research and practice development education, networking, and the advocacy of the highest ethical and professional practices. The Committee is a standing advisory committee whose objective is to enhance the overall quality of financial reporting in a cost beneficial manner. This objective will be met by providing input to proposals, research studies, and pending legislation promulgated by U.S. and international organizations. The Committee's members includes representation from various segments of the accounting community, including industry, public accounting, and academia.

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