Abstract
This article aims to identify changes in the form of the statement of comprehensive income in companies in the WIG30 and DAX indices. It also aims to identify and grade components of other comprehensive income, in terms of the information transparency of the presentation options. The article demonstrates also the impact of national cultural dimensions on the form of the statement of comprehensive income. The study found that most of the surveyed companies present their statement of comprehensive income in two statements, with the number of accounting notes regarding comprehensive income presented by companies in their financial statements increasing over the period under study. The study identified four options for the presentation of other comprehensive income components used by the surveyed companies in the years 2012-2014, with the particular option chosen reflecting the different information transparency of the statement of comprehensive income. The results show that the practice of reporting in the area of the statement of comprehensive income of the DAX index companies is ahead of that in the WIG30 index. The research results on information transparency of the statement of comprehensive income correspond to one of the national cultural dimensions.
Highlights
Contemporary changes in economic reality are accompanied by changes in the tools with which companies communicate with the environment, including changes in the financial statements
In Europe, comprehensive income is a relatively new concept, and it appears that the problem of misinformation among users of financial statements may be caused by new concepts of reporting
A key principle of the concept of comprehensive income is to increase the transparency of financial reporting
Summary
Contemporary changes in economic reality are accompanied by changes in the tools with which companies communicate with the environment, including changes in the financial statements. The key question seems to be whether the increased scope and change in form of presenting information in the financial statements streamlines the communication process or causes misinformation. In Europe, comprehensive income is a relatively new concept, and it appears that the problem of misinformation among users of financial statements may be caused by new concepts of reporting. Given the lack of European experience in the area of presenting components of other comprehensive income, it seems that research in this area is justified. Other comprehensive income provides an excellent platform for international comparative research. Regardless of the sector in which companies operate or location within the European Union capital market on which they are listed, the components of other comprehensive income are similar, despite being presented in various forms
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Free) 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
