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    CFAS - Chapter 9: PAS 1 - Presentation of Financial Statements (Statement of Comprehensive Income)

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    The document discusses the presentation of financial statements and the statement of comprehensive income. It defines key terms such as other comprehensive income, profit or loss, income statement, and net income or loss. It explains that the statement of comprehensive income presents all items of income and expenses, including both changes from regular activities and remeasurements arising from other comprehensive income.

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    CFAS - Chapter 9: PAS 1 - Presentation of Financial Statements (Statement of Comprehensive Income)

    Uploaded by

    agm25
    324 views1 page
    The document discusses the presentation of financial statements and the statement of comprehensive income. It defines key terms such as other comprehensive income, profit or loss, income statement, and net income or loss. It explains that the statement of comprehensive income presents all items of income and expenses, including both changes from regular activities and remeasurements arising from other comprehensive income.

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    CFAS CH 9 PAS 1

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    The document discusses the presentation of financial statements and the statement of comprehensive income. It defines key terms such as other comprehensive income, profit or loss, income statement, and net income or loss. It explains that the statement of comprehensive income presents all items of income and expenses, including both changes from regular activities and remeasurements arising from other comprehensive income.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    324 views1 page

    CFAS - Chapter 9: PAS 1 - Presentation of Financial Statements (Statement of Comprehensive Income)

    Uploaded by

    agm25
    The document discusses the presentation of financial statements and the statement of comprehensive income. It defines key terms such as other comprehensive income, profit or loss, income statement, and net income or loss. It explains that the statement of comprehensive income presents all items of income and expenses, including both changes from regular activities and remeasurements arising from other comprehensive income.

    Copyright:

    © All Rights Reserved
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    of 1

    CFAS - Chapter 9: PAS 1 - Presentation of Financial

    Statements (Statement of Comprehensive income)


    Study online at quizlet.com/_787und

    1. a. COGS or COS Components of 5. Comprehensive change in equity during a period resulting


    b. Distribution costs or selling expense expense Income from transactions and other events, other
    c. Administrative expense than changes resulting from transactions
    d. Other expenses with owners in their capacity as owners
    e. Income tax expense
    6. Financial primarily measured in terms of the level of
    2. a. Sales of merchandise to customers Sources of performance income earned by the entity through the
    b. Rendering of services income of an entity effective and efficient utilization of its
    c. Use of entity resources resources
    d. Disposal of resources other than
    7. Incidental c. Use of entity resources
    products
    d. Disposal of resources other than
    3. a. Unrealized gain or loss on debt OCI that will be products
    investment measured at fair value through reclassified to
    8. Income formal statement showing the financial
    OCI. profit or loss
    Statement performance of an entity for a given period
    of time
    b. Gain or loss from translating financial
    statements of a foreign operation. 9. Income period presents the income, expenses,
    Statement gains, losses and net income or loss
    c. Unrealized gain or loss on derivative recognized during the period.
    contracts designated as cash flow hedge. 10. Net income or An entity may use to describe profit or loss.
    4. a. Unrealized gain or loss on equity OCI that will be loss
    investment measured at fair value through reclassified to 11. Other comprises items of income and expenses
    OCI. retained Comprehensive including reclassification adjustments that
    earnings Income (OCI) are not recognized in profit or loss as
    b. Revaluation surplus during the year required or permitted by PFRS
    12. Profit or Loss this is the "bottom line" in the traditional
    c. Remeasurements of defined benefit
    income statement.
    plan, including actuarial gain or loss.
    13. Profit or Loss the total of income less expenses,
    d. Change in fair value attributable to excluding the components of other
    credit task of a financial liability comprehensive income
    designated at fair value through profit or 14. Profit or Loss Comprehensive Income includes:
    loss Other
    Comprehensive
    Income
    15. regular/normal a. Sales of merchandise to customers
    activities b. Rendering of services
    16. result of financial performance is also known as
    operation
    17. Transaction traditional preparation of the income
    approach statement in conformity with accounting
    standards
    18. Two statement Presentation of Comprehensive Income
    Single
    Statement

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