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Which the following statements is true? According to the IFRS, an entity should present the income statement and other comprehensive income separately, and cannot combine
Which the following statements is true?
According to the IFRS, an entity should present the income statement and other comprehensive income separately, and cannot combine them into one statement.
Presentation of income statement and other comprehensive income is the same under both US GAAP and IFRS, except that in US GAAP, the firm could choose to report comprehensive income in the statement of shareholders' equity.
Presentation of income statement and other comprehensive income is the difference under US GAAP and under IFRS, but both allow the reporting of comprehensive income in the statement of shareholders' equity.
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