"Retrospective application means adjusting the opening balance of each affected component of equity... and comparative amounts"
What is the definition of "Component of equity" ?
Is this one that included in SOCE or does it mean asset, liability, expense and income?
Thank you!
Ask the Tutor ACCA SBR
ias 8 components of equity
6y ago
6y ago#1Any line in SOCE:
Share capital
Retained earnings
Other components of equity
And that's all!
6y ago#2We do also change affected asset, liabilities etc isnt it? I am kinda confused because std. only refers to equity components.
Or is it that adjustment in asset etc is made in the 'comparative amounts'?
6y ago#3Do not understand your question
Sign into reply to this topic.