Define statement of changes in equity?
The statement of changes in equity consists of a reconciliation of the changes in equity in which the following information is provided:
- total comprehensive income for the period, showing separately the total amounts attributable to owners of the parent and to non-controlling interests;
- for each component of equity, the effects of retrospective application or retrospective restatement recognised in accordance with IAS 8; and
- for each component of equity, a reconciliation between the carrying amount at the beginning and the end of the period, separately disclosing changes resulting from:
- profit or loss;
- other comprehensive income; and
- transactions with owners in their capacity as owners, showing separately contributions by and distributions to owners and changes in ownership interests in subsidiaries that do not result in a loss of control.
For more details on IFRS please read the following article-> IFRS Detail
For more details on IFRS ACCA please read the following article-> ACCA IFRS DETAILS
For fee related things pleases read the following article-> IFRS Fees