IAS 1Chapter 5Lesson 1
The statement of profit or loss: line items, one or two statements and expense analysis
Step 1 of 6Learning objectives
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The statement of profit or loss includes minimum line items and relevant lines or subtotals; it can stand alone or be followed by a statement of comprehensive income, and analyses expenses by nature or by function.
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Learning objectives
- Identify the minimum line items of the statement of profit or loss.
- Explain when to present additional line items and subtotals and calculate the subtotals of a statement.
- Identify the two ways of presenting comprehensive income and the order of the two statements.
- Distinguish the analysis of expenses by nature from the analysis by function and determine the information in the notes.