摘要：Research aims: This study discusses a recent development in adopting the International Financial Reporting Standard (IFRS) in ASEAN. The objective of this study is to examine the value relevance of the Other Comprehensive Income (OCI) after the International Accounting Standard (IAS 1) revision about the financial statements’ presentation. This study primarily examines whether the relocation of the OCI from the Statement of Changes in Owners' Equity to the Statement of Comprehensive Income increases the value relevance. Design/Methodology/Approach: This study compared the value relevance of other comprehensive income (OCI) one year before and after the adoption of IAS 1 in each country. The study focused on ASEAN 5 countries: Indonesia, Malaysia, Philippine, Singapore, and Thailand. Research findings: The study’s result found that OCI had higher value relevance after the adoption of IAS 1. Theoretical contribution/Originality: This study extends previous studies around IFRS adoption, mostly focused on European countries. The study of IFRS adoption in ASEAN countries is limited. This study presents a unique setting since most of the Countries in ASEAN adopted IAS 1 not in the same year as the year enacted by the IASB. This study contributes to the recent development in accounting standards, showing that IAS No. 1 adoption as part of the IFRS adoption in ASEAN will increase the financial statement’s value relevance. Practitioner/Policy implication: This study implies for the Practitioner and Policymakers that the IFRS adoption’s benefits aimed to improve the financial reports’ quality, so users can more easily and readily process information about company performance. Research limitation/Implication: This study only focused on total OCI. This study did not analyze the impact of revised IAS 1 adoption for each item of OCI, such as available for sale component, revaluation surplus, or translation component. The result is consistent with the IFRS adoption’s proponent that the IAS 1 revision will increase the financial statement’s usefulness.
关键词：International Accounting Standard; Comprehensive Income; Earnings Quality; Value Relevance
