La struttura del Comprehensive Income Statement: le indicazioni del progetto congiunto IASB-FASB Financial Statement Presentation

By | 2017-12-27T17:31:15+01:00 December 27th, 2017|

Pisani Michele/ Financial Reporting, Riviste / Fascicolo: 4-2011

Il progetto congiunto IASB-FASB Financial Statement Presentation si propone di definire l’impostazione di tutti i documenti necessari per formare un bilancio di esercizio che possa definirsi completo, ma grande attenzione è dedicata alla struttura del conto economico e alla rappresentazione del comprehensive income. Nel momento in cui i due corpi di principi contabili adottano un sistema misto di riconoscimento e di valutazione, fondato in parte sul costo storico e sul principio di realizzazione e in parte sul fair value e sulla logica delle variazioni patrimoniali, si pone il problema di valutare se la rappresentazione del reddito debba riflettere in modo neutro l’esistenza di questi due diversi paradigmi. Il lavoro esamina le soluzioni proposte nella struttura di conto economico al fine di esprimere su di esse un giudizio di merito alla luce delle indicazioni provenienti dai contributi teorici e dalle indagini empiriche svolte sull’argomento. Le innovazioni presentano indubbi vantaggi ma non risolvono le principali criticità legate alla rappresentazione del comprehensive income. L’incertezza che emerge dai contributi teorici ed empirici, che non consentono di individuare argomenti decisivi per basare le valutazioni esclusivamente sul reddito tradizionale o sul comprehensive income, rappresentano il principale argomento a supporto delle scelte conservative avanzate dai due board.

The IASB and the US FASB are presently involved in a joint project on financial statement presentation. After a discussion paper, published in October 2008, on July 2010 the boards decided to post a staff draft of proposed standard that reflect tentative decisions made to date, as a basis for extended stakeholder outreach activities. The objective of the financial statement presentation project is to establish a global standard that will guide the organisation and presentation of information in the financial statements, but the focus is on reporting comprehensive income. Since the IASB and the FASB accounting model mixes two income determination systems, namely, historical cost accounting and fair value accounting, an interesting question pertains to whether the display of comprehensive income should reflect the existence of these two paradigms. This article scrutinizes the proposed amendments to IAS 1 comprehensive income statement format while it reviews analytic, empirical and experimental research that addresses the presentation of income and the format of the income statement and presents the typical arguments made by proponents of historical cost net income and comprehensive fair value income. The research results are somewhat mixed, but they support the conservative decisions of the boards.

Keywords: comprehensive income, income statement, performance measure, earnings attributes, historical cost accounting, fair value accounting

 

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IAS 1 revised e nuova rappresentazione della performance economica nel bilancio: evidenze empiriche da Italia e Francia

By | 2017-12-29T17:33:55+01:00 December 27th, 2017|

Incollingo Alberto, Di Carlo Ferdinando/ Financial Reporting, Riviste / Fascicolo: 2-2012

A partire dai bilanci dell’esercizio 2009, l’applicazione dello IAS 1 revised richiede al conto economico l’evidenza del total comprehensive income, una misura di performance che si ottiene sommando alla tradizionale figura del profit or loss quei valori non realizzati (segnatamente, variazioni di fair value) che, in precedenza, erano iscritti direttamente a patrimonio netto e quindi non partecipavano alla formazione del reddito di periodo. Con questa ricerca gli autori si pongono l’obiettivo di misurare l’impatto che l’adozione del prospetto di conto economico complessivo ha comportato sulla rappresentazione della performance periodica d’impresa, in Italia e Francia, osservando l’entità e la volatilità del nuovo risultato economico, nonché la sua composizione.

From the annual reports of the year 2009, the adoption of the IAS 1 revised has required to show in the income statement the total comprehensive income, a performance measure that results adding to the traditional figure of profit or loss the unrealized gains and losses (particularly, fair value changes) that, previously, were directly placed in the net equity and weren’t part of net income. In this research authors want to investigate the impact of the new statement of comprehensive income on the firm performance representation, in Italy and France, by observing the amount and the volatility of this new measure, as well as its composition.

Keywords: IAS 1, performance, comprehensive income, financial statement presentation, statement of comprehensive income, volatility

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Assessing value relevance of comprehensive income in European banks and other financial institutions

By | 2017-12-29T17:45:43+01:00 December 27th, 2017|

Mechelli Alessandro, Cimini Riccardo/ Financial Reporting, Riviste / Fascicolo: 1-2013

The IAS/IFRS compliant groups have been disclosing comprehensive income since 2009, when the IAS 1-revised became effective. This paper aims to investigate the value relevance of comprehensive income and its components in European banks and other financial institutions. The research has been developed by having a sample of 166 European listed groups whose data have been collected in the 2009, 2010 and 2011 (498 firm-year observations) consolidated financial statements. In contrast to previous findings, related to all the sectors, our research highlights a higher value relevance of comprehensive income in respect to net income. Moving to the single OCI components, our results suggest that gains and losses on remeasuring available-for-sale financial assets (AFSit) are value relevant in European banks and other financial institutions.

Keywords: Comprehensive income, net income, value relevance, IAS 1-revised, European listed groups

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