Economics at your fingertips  

The analysis of the elements constituting the operating, financial and other components result of economic activity for the period under U.S. GAAP and IAS / IFRS

Dana Kovanicová

Acta Oeconomica Pragensia, 2004, vol. 2004, issue 1, 77-106

Abstract: The ordering a categorization of data in the income statement is unavoidable. Even in the absence of clearly identified subtotals, there is some form of implicit structure in any income statement. An immediate difficulty, however, is that attempts to define income statement categories can be viewed in one of two ways. First, they can be viewed as attempts to make distinctions that provide useful information - for example, by separating items that are not expected to recur, so that analysts and other users can focus on the entity ongoing business. Second, they can be categorized according to operating, financing and extraordinary activities. In thinking about possible income statement categories, a practical matter is that certain categorizations must take primacy over others. There is the possibility of introducing a second dimension to the statement of comprehensive income, which would then allow a second primary categorization to be made. This is approach favored by IASB: specifically, the two primary categorizations in the IASB proposed format are, first, operating and financing and, second, "income components" and "valuations adjustment". It gives possibility to display and present comprehensive income - i. e. all income and expenses, or all recognized changes in assets and liabilities except those related to transactions with owners as owners.

Keywords: income statement; revenues; expenses; gains; losses; comprehensive income; výsledovka; výnos; náklad; přírůstek hodnoty; úbytek hodnoty; úplný výsledek (search for similar items in EconPapers)
JEL-codes: M41 (search for similar items in EconPapers)
Date: 2004
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link) (text/html)
free of charge

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Ordering information: This journal article can be ordered from
Redakce Acta Oeconomica Pragensia, Vysoká škola ekonomická v Praze, nám. W. Churchilla 4, 130 67 Praha 3

Access Statistics for this article

Acta Oeconomica Pragensia is currently edited by Jindřich Špička

More articles in Acta Oeconomica Pragensia from University of Economics, Prague Contact information at EDIRC.
Bibliographic data for series maintained by Frantisek Sokolovsky ().

Page updated 2020-01-01
Handle: RePEc:prg:jnlaop:v:2004:y:2004:i:1:id:248:p:77-106