Question 3 An entity recognises a loss on the derivatives designated as cash flow hedges in the amount of 3,700. The loss was recognised in a statement of comprehensive income. Where should the entity recognise the related deferred tax on the loss on those derivatives? In the statement of profit or loss Either in the statement of profit or loss or in the statement of comprehensive income Either in the statement of comprehensive income or in the statement of changes in equity In the statement of comprehensive income

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question
Question 3
An entity recognises a loss on the derivatives designated as cash flow hedges in
the amount of 3,700. The loss was recognised in a statement of comprehensive
income. Where should the entity recognise the related deferred tax on the loss
on those derivatives?
In the statement of profit or loss
Either in the statement of profit or loss or in the statement of
comprehensive income
Either in the statement of comprehensive income or in the statement of
changes in equity
In the statement of comprehensive income
Transcribed Image Text:Question 3 An entity recognises a loss on the derivatives designated as cash flow hedges in the amount of 3,700. The loss was recognised in a statement of comprehensive income. Where should the entity recognise the related deferred tax on the loss on those derivatives? In the statement of profit or loss Either in the statement of profit or loss or in the statement of comprehensive income Either in the statement of comprehensive income or in the statement of changes in equity In the statement of comprehensive income
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education