<p>The Financial Accounting Standards Board (FASB) confirmed many of the preliminary decisions it had made regarding how other comprehensive income (OCI) should be displayed in its Financial Statement Presentation project, when it met on June 16, 2008, for its weekly Board meeting at its Norwalk, CT headquarters.</p>

<p>In this segment of the Financial Statement Presentation project, the Board decided that earlier preliminary views on the presentation in the statement of comprehensive income should remain in the scope of phase B of the project.</p>

<p>The project, which has two phases, began in 2004 and is being jointly undertaken by FASB and the International Accounting Standards Board. It includes a review of the reporting and classification of items of revenue, expense, gains, and losses.</p>

<p>The Board also agreed that there should be no further separation of OCI items in the statement of financial position or in the statement of cash flows. The Board further decided that information about changes in the accumulated balance of individual OCI items should be presented in the notes, as a way of focusing the statement of changes in equity on the other components of equity.</p>

<p>The Board also supported a staff recommendation that statement preparers should have a choice as to where to present information about changes to individual OCI items.</p>