The document discusses the requirements for presenting a statement of comprehensive income according to PAS 1. It lists the required line items to include in the statement such as revenue, gains/losses, finance costs, share of profits/losses from joint ventures, profit/loss for the period, other comprehensive income, and total comprehensive income for the period. It also notes that PAS 1 does not prescribe a specific format for the statement, allowing management to select the presentation that provides the most reliable and relevant information for their entity.
The document discusses the requirements for presenting a statement of comprehensive income according to PAS 1. It lists the required line items to include in the statement such as revenue, gains/losses, finance costs, share of profits/losses from joint ventures, profit/loss for the period, other comprehensive income, and total comprehensive income for the period. It also notes that PAS 1 does not prescribe a specific format for the statement, allowing management to select the presentation that provides the most reliable and relevant information for their entity.
The document discusses the requirements for presenting a statement of comprehensive income according to PAS 1. It lists the required line items to include in the statement such as revenue, gains/losses, finance costs, share of profits/losses from joint ventures, profit/loss for the period, other comprehensive income, and total comprehensive income for the period. It also notes that PAS 1 does not prescribe a specific format for the statement, allowing management to select the presentation that provides the most reliable and relevant information for their entity.
The document discusses the requirements for presenting a statement of comprehensive income according to PAS 1. It lists the required line items to include in the statement such as revenue, gains/losses, finance costs, share of profits/losses from joint ventures, profit/loss for the period, other comprehensive income, and total comprehensive income for the period. It also notes that PAS 1 does not prescribe a specific format for the statement, allowing management to select the presentation that provides the most reliable and relevant information for their entity.
Presentation of Financial Statements – Statement of Comprehensive Income
Line items – PAS 1, paragraph 82
o Revenue o Gain and Loss o Finance Cost o Share in income or loss of associated joint venture o Single amounts comprising discontinues operations o Profit or loss of the period o Total Other Comprehensive Income o Comprehensive Income for the period
PAS 1, paragraph 105 – does not describe any format
o Each method of presentation has merit for different types of entities, management is required to select the presentation that is reliable and more relevant.