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A single statement of financial performance: its time has come

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  • Robert Beale
  • Howard Davey

Abstract

At present, entities in several countries report a ‘traditional’ measure of financial performance in the statement of financial performance, and a measure of comprehensive income in a separate statement, such as a statement of changes in equity. In 1999, members of the Institute of Chartered Accountants of New Zealand were surveyed to obtain their views on whether a single statement of financial performance should be introduced. The findings provided strong support for the introduction of a single statement, and the preferred method of presentation was a statement that discloses both the modified historical cost net surplus and comprehensive income.

Suggested Citation

  • Robert Beale & Howard Davey, 2001. "A single statement of financial performance: its time has come," Accounting Forum, Taylor & Francis Journals, vol. 25(2), pages 174-188, June.
    • Handle: RePEc:taf:accfor:v:25:y:2001:i:2:p:174-188
    DOI: 10.1111/1467-6303.00061
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    Cited by:

    1. Sushma Vishnani & Nityanand Deva & Dheeraj Misra, 2024. "Value Relevance of Comprehensive Income reported as per IFRS-converged Indian Accounting Standards," Asia-Pacific Financial Markets, Springer;Japanese Association of Financial Economics and Engineering, vol. 31(3), pages 453-472, September.

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