In an article in the WSJ, "IASB Plans Overhaul of Financial Definitions", the International Accounting Standards Board wants to redefine and introduce new definitions to the financial landscape. http://blogs.wsj.com/cfo/2016/11/02/iasb-plans-overhaul-of-financial-definitions
One example is EBIT, the other (adding) is "operating profit"
Their reasoning: “We want to give investors the right handles to look at a balance sheet,” said IASB chairman Hans Hoogervorst.
What's your feeling on this change? Is it a move in the right direction, or a bureaucratic methodology to create work for themselves or something else?