A statement of changes in equity includes:
A) each item of income and expense for the period that, as required by other Australian Accounting Standards, is recognised directly in equity.
B) profit or loss for the period.
C) total income and expense for the period showing separately the total amounts attributable to equity holders of the parent and to minority interest.
D) each item of income and expense for the period that, as required by other Australian Accounting Standards, is recognised directly in equity, profit or loss for the period, and total income and expense for the period showing separately the total amounts attributable to equity holders of the parent and to minority interest.

Question

Quizplus · Accepted Answer

A statement of changes in equity should include each item of income and expense for the period that is recognised directly in equity as well as profit or loss for the period. Additionally, it should show total income and expense separately for equity holders of the parent and minority interest. Therefore, Choice D is the best option as it includes all the required components of a statement of changes in equity.

A Statement of Changes in Equity Includes