Under IFRS, the Statement of Changes in Shareholders' Equity must include
A) share capital and retained earnings only.
B) share capital and contributed surplus only.
C) share capital, accumulated other comprehensive income, contributed surplus, and retained earnings.
D) retained earnings, share capital, and accumulated other comprehensive income.

Question

Quizplus · Accepted Answer

Under IFRS, the Statement of Changes in Shareholders' Equity must include share capital, accumulated other comprehensive income, contributed surplus, and retained earnings. This is because these are all components that contribute to the overall equity of the company and are relevant for decision-making purposes. Including all of these in the statement provides a clear picture of how the equity of the company has changed over time.

Under IFRS, the Statement of Changes in Shareholders' Equity Must