Question: Other comprehensive income is a category of comprehensive income that

Other comprehensive income is a category of comprehensive income that is made up of specific gains and losses that are reported separately after net earnings under IFRS. Under ASPE, there is no such concept as comprehensive income or other comprehensive income, and only net income needs to be reported.
Instructions
(a) Discuss the rationale for excluding other comprehensive income items from ASPE. Use exan1ples of items that are currently reported under other comprehensive income and discuss their trealll1ent under ASPE.
(b) Under IFRS, earnings per share (EPS) is based on net earnings. Discuss the pros and cons of calculating EPS on comprehensive income instead.

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  • CreatedSeptember 18, 2015
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