INCOMESTATEMENTANDRELATEDINFORMATION幻灯片.pptVIP

Two approaches to reporting Comprehensive Income: A second income statement. A combined statement of comprehensive income. LO 9 Explain how to report other comprehensive income. Other Reporting Issues Other Reporting Issues Illustration 4-21 Comprehensive Income Two-statement format: Comprehensive Income LO 9 Explain how to report other comprehensive income. Other Reporting Issues LO 9 Explain how to report other comprehensive income. Illustration 4-22 Comprehensive Income Combined statement format: Comprehensive Income Other Reporting Issues Statement of Changes in Equity LO 9 Explain how to report other comprehensive income. Required, in addition to a statement of comprehensive income. Generally comprised of share capital—ordinary, share premium—ordinary, retained earnings, and the accumulated balances in other comprehensive items. Other Reporting Issues Statement of Changes in Equity LO 9 Explain how to report other comprehensive income. Reports the change in each equity account and in total equity for the period. Comprehensive income for the period. Contributions (issuances of shares) and distributions (dividends) to owners. Reconciliation of the carrying amount of each component of equity from the beginning to the end of the period. Other Reporting Issues Illustration 4-23 LO 9 Explain how to report other comprehensive income. Statement of Changes in Equity Other Reporting Issues Illustration 4-24 LO 9 Explain how to report other comprehensive income. Statement of Changes in Equity Regardless of the display format used, V. Gill reports the accumulated other comprehensive income of $90,000 in the equity section of the statement of financial position as follows. Presentation of the income statement under U.S. GAAP follows either a single-step or multiple-step format. IFRS does not mention a single-step or multiple-step approach. In addition, under U.S. GAAP, companies must report an item as extraordinary if it is unusual in nature and infrequen