Other comprehensive income

Other comprehensive income comprises items of income and expense (including reclassification adjustments) that are not recognised in profit or loss as required or permitted by other IFRSs.

IFRS in respect of the classification of gains or losses in other comprehensive income or profit or loss/profit and loss is directed by the notion that all gains and losses that are not defined as a component of other comprehensive income are by definition part of profit or loss.

All components of ‘profit or loss’ and of ‘other comprehensive income’ are summarised as ‘Total comprehensive income’. Total comprehensive income is the change in equity during a period resulting from transactions and other events, other than those changes resulting from transactions with owners in their capacity as owners.

The components of other comprehensive income include:

  1. changes in revaluation surplus (see IAS 16 39 Property, Plant and Equipment and IAS 38 85 Intangible Assets);
  2. remeasurements of defined benefit plans (see IAS 19 57(d) Employee Benefits);
  3. gains and losses arising from translating the financial statements of a foreign operation (see IAS 21 30 – 33, IAS 21 39(c) The Effects of Changes in Foreign Exchange Rates);
  4. gains and losses from investments in equity instruments designated at fair value through other comprehensive income in accordance with paragraph 5.7.5 of IFRS 9 Financial Instruments;(da) gains and losses on financial assets measured at fair value through other comprehensive income in accordance with paragraph 4.1.2A of IFRS 9.
  5. the effective portion of gains and losses on hedging instruments in a cash flow hedge and the gains and losses on hedging instruments that hedge investments in equity instruments measured at fair value through other comprehensive income in accordance with paragraph 5.7.5 of IFRS 9 (see Chapter 6 of IFRS 9);
  6. for particular liabilities designated as at fair value through profit or loss, the amount of the change in fair value that is attributable to changes in the liability’s credit risk (see paragraph 5.7.7 of IFRS 9);
  7. changes in the value of the time value of options when separating the intrinsic value and time value of an option contract and designating as the hedging instrument only the changes in the intrinsic value (see Chapter 6 of IFRS 9);
  8. changes in the value of the forward elements of forward contracts when separating the forward element and spot element of a forward contract and designating as the hedging instrument only the changes in the spot element, and changes in the value of the foreign currency basis spread of a financial instrument when excluding it from the designation of that financial instrument as the hedging instrument (see Chapter 6 of IFRS 9);
  9. insurance finance income and expenses from contracts issued within the scope of IFRS 17 Insurance Contracts excluded from profit or loss when total insurance finance income or expenses is disaggregated to include in profit or loss an amount determined by a systematic allocation applying paragraph 88(b) of IFRS 17, or by an amount that eliminates accounting mismatches with the finance income or expenses arising on the underlying items, applying paragraph 89(b) of IFRS 17; and
  10. finance income and expenses from reinsurance contracts held excluded from profit or loss when total reinsurance finance income or expenses is disaggregated to include in profit or loss an amount determined by a systematic allocation applying paragraph 88(b) of IFRS 17.

General model of measurement of insurance contracts

Other comprehensive income

Other comprehensive income

Other comprehensive income Other comprehensive income Other comprehensive income Other comprehensive income Other comprehensive income

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