Statement of Changes in Equity

Comparison between Indian GAAP and Ind-AS/ IFRS

Under IFRS/ Ind-AS, a statement of changes in equity is presented which includes the following information:

  • total comprehensive income for the period.
  • the effects on each component of equity of retrospective application or retrospective restatement in accordance with IAS/Ind-AS 8.
  • for each component of equity, a reconciliation between the opening and closing balances, separately disclosing each change.

Under the Indian GAAP, currently no such statement of changes in equity is presented. However, the movement in share capital, retained earnings and other reserves is to be presented in the notes to accounts as per the requirements of Schedule III to the Companies Act, 2013.

Be the first to comment

Leave a Reply

Your email address will not be published.


*


%d bloggers like this: