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The analysis of the elements constituting the operating, financial and other components result of economic activity for the period under U.S. GAAP and IAS / IFRS


  • Dana Kovanicová


The ordering a categorization of data in the income statement is unavoidable. Even in the absence of clearly identified subtotals, there is some form of implicit structure in any income statement. An immediate difficulty, however, is that attempts to define income statement categories can be viewed in one of two ways. First, they can be viewed as attempts to make distinctions that provide useful information - for example, by separating items that are not expected to recur, so that analysts and other users can focus on the entity ongoing business. Second, they can be categorized according to operating, financing and extraordinary activities. In thinking about possible income statement categories, a practical matter is that certain categorizations must take primacy over others. There is the possibility of introducing a second dimension to the statement of comprehensive income, which would then allow a second primary categorization to be made. This is approach favored by IASB: specifically, the two primary categorizations in the IASB proposed format are, first, operating and financing and, second, "income components" and "valuations adjustment". It gives possibility to display and present comprehensive income - i. e. all income and expenses, or all recognized changes in assets and liabilities except those related to transactions with owners as owners.

Suggested Citation

  • Dana Kovanicová, 2004. "The analysis of the elements constituting the operating, financial and other components result of economic activity for the period under U.S. GAAP and IAS / IFRS," Acta Oeconomica Pragensia, University of Economics, Prague, vol. 2004(1), pages 77-106.
  • Handle: RePEc:prg:jnlaop:v:2004:y:2004:i:1:id:248:p:77-106

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    References listed on IDEAS

    1. S. Illeris & G. Akehurst, 2001. "Introduction," The Service Industries Journal, Taylor & Francis Journals, vol. 21(1), pages 1-4, January.
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    More about this item


    income statement; revenues; expenses; gains; losses; comprehensive income; výsledovka; výnos; náklad; přírůstek hodnoty; úbytek hodnoty; úplný výsledek;

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting


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