Proceedings

(d) gains and losses on remeasuring available-for-sale financial assets (see IAS
39 Financial Instruments: Recognition and Measurement);
(e) the effective portion of gains and losses on hedging instruments in a cash
flow hedge (see IAS 39).
As seen in Figure 5, gains and losses arising from translating the financial statements
of a foreign operation is the element that is found in 85% of the reviewed entities,
followed by, the effective portion of gains and losses on hedging instruments in a cash
flow hedge (77%), gains and losses arising from translating the financial statements of
a foreign operation (73%), actuarial gains and losses on defined benefit plans (71%).
The element with the lowest weight represents changes in revaluation surplus which is
only represented at the level 3 of the economic entity, which suggests the trend of
economic entities to be evaluated at historical cost, avoiding the fair value
measurement when it is not required by regulations (IAS 16 provides only the option
of revaluation of tangible and intangible assets at fair value).
Figure 3. The number of companies that present other comprehensive income
Along with the 5 components of the other comprehensive income, the amount of
income tax relating to each component of other comprehensive income, including
reclassification adjustments shall be disclosed, either in the statement of
comprehensive income or in the notes. According to IAS 1, the economic entities may
present components of other comprehensive income either: net of related tax effects,
or before related tax effects with one amount shown for the aggregate amount of
income tax relating to those components. In the case of the reviewed entities, 40% of
them, representing 25 entities, presented in statement of comprehensive income
components of other comprehensive income net of related tax effects.
CONCLUSION
For a long time and even today net income continues to be considered the main
indicator for measuring economic performance of an entity. Along with the net
income, the comprehensive income starts to gain the status of leading indicator in
reflecting the entity's financial performance. The close values of the Pearson
~ 982 ~