(IFRS) for Small and Medium-sized Entities (SMEs)

IFRS FOR SMES – JULY 2009Section 6Statement of Changes in Equity and Statement of Income andRetained EarningsScope of this section6.1 This section sets out requirements for presenting the changes in an entity’s equityfor a period, either in a statement of changes in equity or, if specified conditionsare met and an entity chooses, in a statement of income and retained earnings.Statement of changes in equityPurpose6.2 The statement of changes in equity presents an entity’s profit or loss for areporting period, items of income and expense recognised in othercomprehensive income for the period, the effects of changes in accountingpolicies and corrections of errors recognised in the period, and the amounts ofinvestments by, and dividends and other distributions to, equity investors duringthe period.Information to be presented in the statement of changes inequity6.3 An entity shall present a statement of changes in equity showing in thestatement:(a)(b)(c)total comprehensive income for the period, showing separately the totalamounts attributable to owners of the parent and to non-controllinginterests.for each component of equity, the effects of retrospective application orretrospective restatement recognised in accordance with Section 10Accounting Policies, Estimates and Errors.for each component of equity, a reconciliation between the carryingamount at the beginning and the end of the period, separately disclosingchanges resulting from:(i)(ii)(iii)profit or loss.each item of other comprehensive income.the amounts of investments by, and dividends and other distributionsto, owners, showing separately issues of shares, treasury sharetransactions, dividends and other distributions to owners, andchanges in ownership interests in subsidiaries that do not result in aloss of control.34 © IASCF