Statement of changes in equity - Ind AS - Indian Accounting Standards - Companies Law

Statement of changes in equity Information to be presented in the statement of changes in equity An entity shall present a statement of changes in equity. The statement of changes in equity includes the following information: total comprehensive income for the period, showing separately the total amounts attributable to owners of the parent and to noncontrolling interests; for each component of equity, the effects of retrospective application or retrospective restatement recognised in accordance with Ind AS 8; for each component of equity, a reconciliation between the carrying amount at the beginning and the end of the period, separately (as a minimum) disclosing changes resulting from: profit or loss; other comprehensive income; transactions with owners in their capacity as owners, showing separately contributions by and distributions to owners and changes in ownership interests in subsidiaries that do not result in a loss of control; and any item recognised directly in equity such as amount recognised directly in equity as capital reserve Ind AS 103. Information to be presented in the statement of changes in equity or in the notes For each component of equity an entity shall present, either in the statement of changes in equity or in the notes, an analysis of other comprehensive income by item. An entity shall present, either in the statement of changes in equity or in the notes, the amount of dividends recognised as distributions to owners during the period, and the related amount of dividends per share. the components of equity include, for example, each class of contributed equity, the accumulated balance of each class of other comprehensive income and retained earnings. Changes in an entity s equity between the beginning and the end of the reporting period reflect the increase or decrease in its net assets during the period. Except for changes resulting from transactions with owners in their capacity as owners (such as equity contributions, reacquisitions of the entity s own equity instruments and dividends) and transaction costs directly related to such transactions, the overall change in equity during a period represents the total amount of income and expense, including gains and losses, generated by the entity s activities during that period. Ind AS 8 requires retrospective adjustments to effect changes in accounting policies, to the extent practicable, except when the transition provisions in another Ind AS require otherwise. Ind AS 8 also requires restatements to correct errors to be made retrospectively, to the extent practicable. Retrospective adjustments and retrospective restatements are not changes in equity but they are adjustments to the opening balance of retained earnings, except when an Ind AS requires retrospective adjustment of another component of equity. And disclosure in the statement of changes in equity of the total adjustment to each component of equity resulting from changes in accounting policies and, separately, from corrections of errors. These adjustments are disclosed for each prior period and the beginning of the period.