International Financial Reporting Standards (IFRS)

IFRS for Small and Medium-sized Entities (SMEs)
Section 5: Statement of Comprehensive Income and Income Statement

1. Entities have a choice of (1) or (2)
(1) single-statement approach
--> Single statement of comprehensive income

(2) two-statement approach
--> present (A) and (B) in separate statements
--> (A) income statement
--> (B) statement of comprehensive income

2. Examples of other comprehensive income
(1) SME 12: Effective portion of changes in FV
--> for cash flow hedges and
--> for hedges of a net investment in a foreign operation
--> FV: Fair Value

(2) SME 28: Actuarial gains and losses
--> recognised in other comprehensive income

SMEs have a choice of (C) or (D)
--> (C) recognise all actuarial gains and losses in profit or loss
--> (D) recognise all actuarial gains and losses in other comprehensive income

(3) SME 30: Translation gains and losses
--> from the translation of financial statements
--> into presentation currency

3. Examples of items for separate presentation
(1) revenue
(2) profit or loss
(3) each item of other comprehensive income
(4) total comprehensive income

(5) share of profit or loss
--> from equity method investments
(6) share of other comprehensive income
--> from equity method investments

(7) finance costs
(8) tax expense

(9) results of discontinued operations
--> post-tax profit or loss

4. Profit or loss is presented separately for (E) and (F)
--> (E) non-controlling interest
--> (F) owners of parent entity

5. Total comprehensive income is presented separately for (E) and (F)
--> (E) non-controlling interest
--> (F) owners of parent entity