Provide an overview of the main aspects of the existing IAS 1 / AASB 101 profit or loss statement (and management performance measures) that ED/2019/7 proposes changes to, explaining the reasons for IASBs proposed changes;

(2) Provide a summary of the key changes proposed in IFRS ED/2019/7 and how they address the perceived deficiencies identified in (1);

(3) Provide a position statement on whether or not the changes discussed in (2) are an improvement in financial reporting. Discuss specific changes separately and highlight any potential drawbacks