 COMPREHENSIVE INCOME DISCLOSURES: EVIDENCE FROM ITALYOlga Ferraro, Accounting & Taxation, 2012, vol. 4, issue 2, 65-76 Abstract: International Accounting Standard No. 1 was released in 2007. The standard required publicly traded companies to separately report comprehensive income in the financial statements. International Accounting Standard No. 1 prescribed two alternative formats for the presentation without mandating any one specific format. It also provides other options such as the criterion for classification of expenses and the presentation of Other Comprehensive Income items at net or gross of tax. The present study examined the presentation of comprehensive income by a sample of companies listed on the Italian Stock Exchange. The goal is to define the degree of homogeneity of the income statements and to explore current correlation between the direction and size of the Other Comprehensive Income and to identify the prescribed method to present Comprehensive Income. The results show substantial uniformity across Italian companies, with regard to how company accountants present Other Comprehensive Income in their financial statement. Also, the results lead us to believe that the choice of two separate statements may be linked to the greater relative size of the Net income. Keywords: IAS 1; reporting format; comprehensive income; consolidated financial statement (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:ibf:acttax:v:4:y:2012:i:2:p:65-76 Access Statistics for this article Accounting & Taxation is currently edited by Terrance Jalbert More articles in Accounting & Taxation from The Institute for Business and Finance Research |
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