Comprehensive Income
<p><b >NOTE - For Special Purpose Financial Reporting, there is no need to account for comprehensive income</b>
 
<b >Comprehensive İncome</b> (or <b >earnings</b>) is a specific term used in companies' financial reporting from the company-whole point of view. Because that use excludes the effects of changing ownership interest, an economic measure of comprehensive income is necessary for financial analysis from the shareholders' point of view (All changes in Equity except those resulting from investment by or distribution to owners.)
 
This Standard applies to: (a) each entity that is required to prepare financial reports in accordance with Part 2M.3 of the Corporations Act; (b) general purpose financial statements of each reporting entity; and (c) financial statements that are, or are held out to be, general purpose financial statements.
 
The components of other comprehensive income include: (a) changes in revaluation surplus (see AASB 116 Property, Plant and Equipment and AASB 138 Intangible Assets); (b) actuarial gains and losses on defined benefit plans recognised in accordance with paragraph 93A of AASB 119 Employee Benefits; (c) gains and losses arising from translating the financial statements of a foreign operation (see AASB 121 The Effects of Changes in Foreign Exchange Rates); (d) gains and losses on remeasuring available-for-sale financial assets (see AASB 139 Financial Instruments: Recognition and Measurement); and (e) the effective portion of gains and losses on hedging instruments in a cash flow hedge (see AASB 139).
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