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Identifying Decision Useful Information with the Matrix Format Income Statement
Authors:Ann Tarca  Phil Hancock  David Woodliff  Philip Brown  Michael Bradbury   Tony van Zijl
Affiliation:University of Western Australia, Business School, 35 Stirling Hwy Crawley, Western Australia, 6009 e-mail:;
University of New South Wales and University of Western Australia, Business School, 35 Stirling Hwy Crawley, Western Australia, 6009;
Massey University, Private Bag 102904 North Shore Mail Centre, Auckland, New Zealand;
Victoria University of Wellington, PO Box 600 Wellington, New Zealand
Abstract:We conduct an experiment to investigate the potential benefits of an alternative format for the income statement, the matrix format, initially developed by the International Accounting Standards Board (IASB) and UK Accounting Standards Board in their joint project on performance reporting. Sophisticated financial statement users (financial analysts and professional accountants) and less sophisticated financial statement users (MBA students) were asked to extract information from a set of financial statements that included an income statement either in the IAS 1 format or in the matrix format. We find that the matrix format improves the accuracy with which users extract financial information. This result is driven by greater accuracy, for all user groups, on “below‐the‐line” items. Furthermore, despite lack of familiarity with the matrix format, its use did not appear to affect the time taken, the ease of extracting financial information, or users' task completion confidence; further experience with the matrix format could lead to benefits along these lines as well. Our findings may assist the FASB and IASB in their joint project on financial statement presentation.
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