DFS comprehensive income
Comments
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excellent thanks0
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ya jewels i just mailed u0
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could you please send it to me
catherine.wi@easy.com0 -
please email to me too as I am so confused and after my awful BTC exam today I need help!
thank you0 -
Thanks so much for that... as last it makes sense!
Think it's ridiculous that it's been so hard to find an example of something we could be examined on!!!0 -
I have just found a document in My AAT called
"The Presentation of Financial Statements an illustrative Guide"
This tells us about the Statement of Comprehensive Income. It is just a bit that is added on to the bottom of the Income Statement and all you do is include the Revaluation Amount to your total.
Hope this puts all our minds at rest!
Hi
Could you please tell me where you found this, I am very panicked as I haven't seen this or heard anything about it.
Thank you0 -
So if you are adding the revaluation reserve to the total of the income statement & this figure is carried over to retained earnings, does this mean that the revaluation reserve is now included under retained earnings in the equity section of the statement of financial position, rather than being separated like it used to be ?0
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Jewels I got a question for practice this comprehensive n SOFP and Statement of changes in equity do u want it i can email it to u
Please could you send me a copy too.
tammygaines@googlemail.com
Thank you0 -
So if you are adding the revaluation reserve to the total of the income statement & this figure is carried over to retained earnings, does this mean that the revaluation reserve is now included under retained earnings in the equity section of the statement of financial position, rather than being separated like it used to be ?
You'd add the revaluation reserve into the non-current assets PPE line and also a seperate line in the equity section above retained earnings.
EQUITY
Share Capital
Share Premium
Revaluation Reserve
Retained Earnings0 -
Sorry but I am a bit confused. Just to clarify, on the Statement of comprehensive income, (at the bottom of the income statement) you add the revaluation figure, to the retained earnings, plus profit for the year less dividends?
On the equity section of the statement of financial position you put retained equity and revaluation separately?0 -
You'd add the revaluation reserve into the non-current assets PPE line and also a seperate line in the equity section above retained earnings.
EQUITY
Share Capital
Share Premium
Revaluation Reserve
Retained Earnings
Doesn't that mean though that we would be duplicating the revaluation figure because it would already have been carried over as profit for the year due to the other comprehensive income section and so included in retained earnings already ? Sooo confused !!!0 -
Hi Val0123,
Try to think of the statement of changes in equity as your 'workings out' for your retained earnings figure for the statement of financial position, after the income statement. We start with our opening balance - last years retained earnings, reval' account, share premium etc. We add to retained earnings this years profit & deduct dividends paid. We add or deduct from the revaluations account as necessary. We need the final retained earnings figure to put in the statement of financial position.0 -
The extra few lines seem to be confusing and stressing so many people.
I really cant get my head around it.
Im looking at the proforma for statemnet of comprehensive income and it prob sounds silly but how do you know what the figure for ''tax in respect of items in other comprehensive income'' is?
It would really help if there were some example questions / answers.
1.5 das to go and i feel a million miles away from being prepared!0 -
Don't worry about the tax bit, just the first two lines0
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sugapuff, will you please send me over the proforma as I have nothing to work from and really worried now - thank you0
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tammygaines wrote: »
emailed it this morning for you0 -
Please could you email me it azoe810@hotmail.co.ukI pm'd my email address to you did you get it?
Thanks0 -
0
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Please could you email it to me, I am lost!!!
dan.parfitt@talktalk.net0 -
Please could you email it to me, I am lost!!!
dan.parfitt@talktalk.net
done0
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