Profit, loss and other comprehensive income This article looks at what differentiates profit or loss from other comprehensive income and where items should be presented. The purpose of the statement of profit or loss and other comprehensive income (PLOCI) is to show an entity...
It also explains and illustrates the presentation of the statement of profit or loss and other comprehensive income and the statement of changes in equity. Comprehensive income comprises all components of "profit or loss" and of "other comprehensive income." Other comprehensive income is the total ...
A business statement of profit or loss and other comprehensive income for the year ended 31 December 20X4 showed a netprofit of 83,600. It was later found that 18,000 paid for the purchase of a motor van had been debited to motor expensesaccount. It is the company's policy to depreciat...
The Consolidated statement of profit or loss and other comprehensive income 1 The consolidated statement of profit or loss The source of the consolidated statement of profit or loss is the individual statements of profit or loss of the separate companies in the group. In the consolidated statement...
Independent Auditor's Report Consolidated Statement of Profit or Loss and Other Comprehensive Income Consolidated Statement of Financial Position Consolidated Statement of Changes in Equity Consolidated Statement of Cash Flows Notes to Financial Statements Five-Year Financial Summary COMPANY PROFILE Akeso, Inc...
A business statement of profit or loss and other comprehensive income for the year ended 31 December 20X4 showed a net profit of $83,600. It was later found that $18,000 paid for the purchase of a motor van had been debited to motor expenses account. It is the company's policy to ...
The OCI measure was also quite helpful during thefinancial crisis of 2007 to 2009and through its recovery. For instance, coming out of theGreat Recession, the banking giant Bank of America reported a $1.4 billion profit on its standard income statement, but a loss of $3.9 billion based on ...
Most items of income and expense are included in the statement of profit or loss. However, in certain circumstances, an IFRS®Accounting Standard may require that income or expenses arising from a change in the current value of an asset or liabil...
Where Does Other Revenue Go on an Income Statement? It was earlier mentioned that the multi-step income statement has an operating section, where the operating revenue goes. You then subtract operating expenses and you get operating profit. It is to the operating profit that you add other reven...
he performance of a company is reported in the statement of profit or loss and other comprehensive income. IAS 1, Presentation of Financial Statements, defines profit or loss as ‘the total of income less expenses, excluding the components of other comprehensive income’. Other comprehensive income...