Other comprehensive income includes the following, except A. unrealized gain on derivative contract designated as cash flow hedge B. loss from translating the financial statements of a foreign operation C. actuarial gain on defined benefit plan that is fully recognized D. dividends paid to shareholders
Q: Statement 1: The components of other comprehensive income include changes in revaluation surplus.…
A: Lets understand basic thing about the other comprehensive income. Other comprehensive income is a…
Q: When a share-based payment transaction is with an employee and others providing similar services,…
A: Share-based payment means where an entity enters into an transactions with the employees and others…
Q: An appropriation of accumulated profits for possible contingencies should be a. Transferred to…
A: A contingency expense is an expense which can lead to outflow of funds from the company in the…
Q: Equity Investment classified at Fair Through Other Comprehensive Income (choose which of the…
A: Long term investments are the investment or assets that are beneficial for the firm for a number of…
Q: How are gains and losses on financial instruments used to hedge the net investment in a foreign…
A: Financial instruments are either tradable assets or can alternatively be thought of as bundles of…
Q: an initial recognition an entity may make an irrevocable election to present in other comprehensive…
A: According to the accounting stantdard if an entity makes an investment and shows it in in other…
Q: Unconditional transfers of cash or other resources to an entity in a voluntary, nonreciprocal…
A: The correct answer for the above mentioned question is given in the following steps for your…
Q: At initial recognition, an entity may make an irrevocable election to present in other comprehensive…
A: At initial recognition, an entity may make an irrevocable election to present in other comprehensive…
Q: among the following is not an allowed offsetting? *
A: Concept of offsetting as per IFRS 1 vis a vis IAS 1 Assets , liabilties , incomes and expenses when…
Q: The components of other comprehensive income include: a. Changes in revaluation surplus b.…
A: Other comprehensive income - Income / Expenses that does not recognized in the profit and loss…
Q: Which of the following statements is true? a. Borrowing costs are generally expensed except when…
A: Accounting principles are general rules and guidelines that the company follows while recording and…
Q: Exchange differences arising from the translation of financial statements of a foreign operation…
A: When company has subsidiary in the foreign country than the assets and liabilities are to be…
Q: Gains and losses on financial instruments used to hedge a foreign operation's net investment are…
A: Financial Instruments (also known as financial instruments): A financial instrument is a financial…
Q: elated to a change in market conditions B. It can be changed to reflect the rise or fall in the…
A: International Accounting Standards Board defines the cash value to be an amount that an account will…
Q: Which of the following is NOT a component of Accumulated Other Comprehensive Income? A. Gains or…
A: Other comprehensive income (OCI) includes any unrealized gains or losses from sources of funds from…
Q: 6. Which of the following is not considered an appropriate application of offsetting under PAS 1?…
A: Offsetting-: Offsetting, otherwise also named netting, carries place when entities propose their…
Q: Please concisely explain how the excess investment cost over book value is allocated. When is the…
A: 1. The excess cost of investment over book value can be allocated through the process of…
Q: With reference to IAS 37, identify the correct statements from the following: I. A contingent…
A: Contingent Liabilities In simple term contingent liabilities means unexpected loss or expenses…
Q: a) In your own words, explain how do we account for service costs included within a contract to…
A: Disclaimer: “Since you have asked multiple question, we will solve the first question for you. If…
Q: International accounting standards differ from U.S. Generally Accepted Accounting Principles in that…
A: International accounting standards differ from U.S. Generally Accepted Accounting Principles in that…
Q: Which of the following is not an alternative for a capital charge for Operational Risk as stated in…
A: Operational risk means the risk arriving during the human error or system error. It is not at all…
Q: Assets and liabilities, and income and expenses, when material, shall not be offset against each…
A: As per general accounting principal, liabilities & assets and income & expenses should not…
Q: Profit on exchange differences, arising on transaction of foreign operations are classified as: a.…
A: Introduction: Foreign exchange: Buying and selling of foreign currencies , entering in to the…
Q: When an investment ceases to be an associate, the fair value of the investment at the date when it…
A: Investment is the amount saved by the investor in order to earn regular income as well as get the…
Q: A gain arising from a change in the fair value of an investment property for which an entity has…
A: Introduction: Income statement: All revenues and expenses are shown in income statement. It tells…
Q: Other comprehensive income includes all of the following, except: unrealized gains on available for…
A: Other comprehensive income includes income that does not need to consider under net income currently…
Q: PFRS 9 permits an entityto make an irrevocable election to present in other comprehensive income…
A: Solution: According to PFRS 9, "An entity may make an irrevocable election to present in other…
Q: Fixed Assets Turnover Ratio
A: Fixed asset turnover ratio is helpful in computing the return on investment on assets like plant,…
Q: Question 13 The gain or loss on the effective portion of a U.S. parent company's hedge of a net…
A: Introduction:- The gain or loss on the effective portion of a U.S. parent company's hedge of a net…
Q: Under PAS 1, which of the followingitem is not included in the computation of profit? Finance…
A: PAS 1 : It is an accounting standard under Philippines Accounting Standards, the standard…
Q: cordance with PFRS 2, Share-based Payment, how should an entity recognize the change in fair value…
A: The grant of shares or share based option to the employee and director by the most company in order…
Q: At initial recognition, an entity may make an irrevocable election to present in other comprehensive…
A: At initial recognition, an entity may make an irrevocable election to present in other comprehensive…
Q: 4. Which of the following is not a component of other comprehensive income? a. Unrealized gain on…
A: ‘’Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: 2. Which of the following is not included in comprehensive income? a. gains on reissuance of…
A: Comprehensive income: It includes all the changes in company's equity during a specified period…
Q: Choose the correct. Under fair-value accounting for an equity investment, which of the following…
A: Under fair value accounting change in the value of investment will be recognized as the change in…
Q: For cash-settled share based payment transactions, until the liability is settled, the entity is…
A: Solution: As per IFRS 2, "For cash-settled share-based payment transactions, entity should measure…
Q: Under IFRS 9, the cumulative balance of equity as a result of measuring the equity investment at…
A: As per IFRS 9, Financial instruments, The unrealized gain on changes in fair value of the financial…
Q: Under fair-value accounting for an equity investment, which of the following affects the income the…
A: Investments: Companies invest in stocks and bonds of other companies or governmental entity to…
Q: Exchange difference arising from the translation of financial statements of a foreign operation into…
A: Functional currency: the currency of the primary economic environment in which the entity operates…
Q: Under the conceptual framework for international financial reporting a non-controlling interest fits…
A: When ever a company acquires another company's share of more than 50%, it obtaines control over it…
Q: Which one of the following is part of other comprehensive income (OCI)? Multiple Choice Sale of…
A: other comprehensive income (OCI) means those income , expenses , gains and losses which are yet to…
Q: Exchange differences arising from the translation of financial statemen of a foreign operation shall…
A: When company has subsidiary in the foreign country than the assets and liabilities are to be…
Q: If an entity has elected to use the fair value option for a financial liability; a. It is measured…
A: Liabilities: Liabilities are the obligations of an organization that an organization must pay in…
Q: How should negative goodwill be shown on the consolidated financial statements of the acquirer?…
A: Introduction:- Negative goodwill arises, where one company (Acquirer company) purchases or acquires…
Q: method, an investment in associate or joint venture is initially and subsequently measured at…
A: Answer - Option B Initial measurement - Cost Subsequent measurement- Cost, adjusted for the investor…
Q: Under PFRS 3, when is a gain recognized in consolidating financial information? Group of answer…
A: Introduction:- As per IFRS 3 deals Business Combinations. Business combinations means acquirer…
Q: Assets and liabilities, and income and expenses, when material, shall not be offset against each…
A: Foreign exchange gains and losses are permissible to be offset against each other. An entity may…
Other comprehensive income includes the following, except
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
- Which of the following is not one of the components of other comprehensive income? a. changes in revaluation surplus b. remeasurements of the net defined benefit liability (asset) unrealized gains and losses on FVPL c. translation gains and losses on foreign operation d. effective portion of gains and losses on hedging instruments on a cash flow hedgeOther comprehensive income includes all of the following, except: unrealized gains on available for sale financial asset. loss from translating the financial statements of a foreign operations. actuarial gain on defined benefit plan that is fully recognized. share premiumWhich of the following is NOT a component of Accumulated Other Comprehensive Income? A. Gains or losses on Treasury Stock B. Unrealized holding gains or losses on available-for-sale securities C. Gains or losses from foreign currency translation adjustments D. Gains or losses related to post retirement benefit plans (pensions)
- Which of the following statements is TRUE regarding the equity method? A. The equity method is used for reporting gains or losses for non-strategic investments. B. The investor's share of the associate's dividends declared is reported as revenue. C. The investor's investment in the associate changes in direct relation to the changes taking place in the associate's equity accounts. D. The equity method reports unrealized gains and losses on revaluations to fair value in net income.5 Which of the following changes during a period is not a component of other comprehensive income? Group of answer choices a. Foreign currency translation adjustment b. Remeasurement of defined benefit costs c. Unrealized gain on equity instrument measured at fair value d. though other comprehensive income Treasury shares, at cost6 An entity shall present an analysis of expenses using a classification based on Group of answer choices a. the function of expense b. the nature of expense c. either the nature of expense or the function of expense, whichever the entity would prefer to present d. either the nature of expense or the function of expense, whichever provides information that is reliable and more relevantWhich of the following is not a part of Other Comprehensive Income? Group of answer choices foreign currency translation adjustments gains on the sale of equipment unrealized gains on available-for-sale debt securities unrecognized pension costs
- Choose the correct. Under fair-value accounting for an equity investment, which of the following affects the income the investor recognizes from its ownership of the investee?a. The investee’s reported income adjusted for excess cost over book value amortizations.b. Changes in the fair value of the investor’s ownership shares of the investee.c. Intra-entity profits from upstream sales.d. Other comprehensive income reported by the investee.The components of other comprehensive income include:a. Changes in revaluation surplusb. Remeasurements of defined benefit plansc. Gains and losses arising from translating the financial statements of a foreign operationd. All of these4. Which of the following is not a component of other comprehensive income?a. Unrealized gain on equity investment measured at fair value through other comprehensive incomeb. Revaluation lossc. Unrealized gain from derivative contracts designated as cash flow hedged. Loss from translation of the financial statements of a domestic operation 5. Which of the following is a component of other comprehensive income?a. Unrealized loss from derivative contracts designated as fair value hedge.b. Unrealized loss on debt investment measured at fair value through other comprehensive incomec. Gain from translation of the financial statement of a domestic operation.d. Remeasurements of defined obligation plan, including accrual gain 6. Statement of comprehensive income can be presented asa. Two statements or single statement of comprehensive incomeb. Single statement of comprehensive income onlyc. Two statement of income statement or statement of comprehensive income onlyd. Statement of…
- Under fair-value accounting for an equity investment, which of the following affects the income the investor recognizes from its ownership of the investee? The investee’s reported income adjusted for excess cost over book value amortizations. Changes in the fair value of the investor’s ownership shares of the investee. Intra-entity profits from upstream sales. Other comprehensive income reported by the investee.Which of the following statements concerning the different types of hedging transactions is incorrect? a. In hedging transaction designated as fair value hedge, unrealized holding gain or loss on hedged item will be recognized in profit or loss. b. In hedging transaction designated as cash flow hedge, unrealized holding gain or loss on hedged item will be recognized in other comprehensive income with reclassifications adjustment to profit or loss if realized. c. In hedging transaction which is undesignated, unrealized holding gain or loss on hedging instrument will be recognized in profit or loss. d. In hedging transaction designated as hedge of net investment in foreign operation, unrealized holding gain or loss on hedging instrument which is considered effective portion will be recognized in other comprehensive income with reclassification adjustment to profit or loss if realized.Please concisely explain how the excess investment cost over book value is allocated. When is the intra-entity’s profits recognized on transfers between the investor and investee? What is the controlling interest percentage for a consolidated accounting financial statement?