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The QCA's Financial Reporting Committee examined this paper from the International Accounting Standards Board (IASB), which was seeking preliminary views on changes to financial statement presentation.  The QCA commented that we believe that some of the changes will incur a disproportionate amount of cost for SQCs, especially with regard to the proposal on using a single statement of comprehensive income (Paragraphs 3.24 – 3.33), the direct method of presenting cash flows (Paragraph 3.75), and the proposed reconciliation schedule (Paragraph 4.19).

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