Under IFRS, Components of Other Comprehensive Income

question 124

Multiple Choice

Under IFRS, components of other comprehensive income:

• A) Can be reported as part of a single statement of comprehensive income.
• B) Are not permitted to be reported.
• C) Must be reported in a separate statement of comprehensive income.
• D) Can be reported as part of a statement of shareholders' equity.

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Definitions:

Retained Earnings

Profits that a company has earned to date, less any dividends or other distributions paid to investors.

Non-controlling Interest

The share of ownership in a subsidiary that doesn't belong to the parent company.

Consolidated Balance Sheet

A financial statement that combines the assets, liabilities, and equity of a parent company and its subsidiaries, presenting them as a single economic entity.

Cost Method

An accounting approach where investments are recorded at their original purchase cost, only adjusting for impairment or sale.