Comprehensive income: period, year to date and comparatives

Learning objectives

• Determine the periods presented in the interim statement of comprehensive income: the current interim period and cumulatively for the current financial year to date, each with the corresponding comparative of the preceding financial year.L1, L2
• Calculate the amount for a quarter from two successive year-to-date amounts, and the year-to-date amount from the quarterly amounts.L1, L2

Normative references

• IAS 34 §20Interim reports include interim financial statements (condensed or complete) for: the statement of financial position as of the end of the current interim period, compared with the end of the immediately preceding financial year; the statement of comprehensive income for the current interim period and cumulatively for the financial year to date, compared with the corresponding periods of the preceding financial year; the statement of changes in equity and the statement of cash flows cumulatively for the financial year to date, compared with the corresponding year-to-date period of the preceding financial year.

Original summaries of the paragraphs (reference register), never a quotation of the standard.

4 questions

• Which periods must the statement of comprehensive income in Brasel SA's interim report at 30 September 20X5 (third quarter; financial year = calendar year) present, with their comparatives?L1
• Vallon SA (financial year = calendar year) published, in its half-year report at 30 June, a year-to-date profit of {year_to_date_previous}. In its report at 30 September, the year-to-date profit is {year_to_date_current}. Calculate the profit of the third quarter to be shown in the column of the current interim period.L2
• In Corvane SA's report at 30 September 20X5, the "third quarter 20X5" column of the statement of comprehensive income shows EUR 2,075,000, which is the nine-month year-to-date profit. The year-to-date profit published at 30 June 20X5 was EUR 1,390,000. What is the error?L2
• Why are the measurements in an interim report made on a year-to-date basis from the beginning of the year?L2