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IFRS 18Presentation and Disclosure in Financial Statements

IFRS 18Chapter 2Lesson 1

The five categories and the operating category as the default

Step 1 of 6Learning objectives

Go deeper+1 point of attention

Every item of income and expense in the statement of profit or loss is classified in one of five categories: operating, investing, financing, income taxes, discontinued operations. The operating category receives everything not classified in the other four.

35 minNot started

Learning objectives

  • Name the five categories and give their logic.
  • Explain why the operating category is the default category.
  • Calculate the total of the operating category from items already classified.

In this lesson

Original teaching content: it paraphrases the standard without reproducing it and does not replace the official text.

Contents — IFRS 18 — Presentation and Disclosure in Financial Statements

  1. 1 · Not startedIFRS 18 and IAS 1: the place of the new standard0 / 1 lesson
  2. 2 · Not startedThe five categories of income and expenses0 / 3 lessons
  3. 3 · Not startedThe required subtotals and profit for the period0 / 1 lesson
  4. 4 · Not startedEntities with specified main business activities0 / 1 lesson
  5. 5 · Not startedAggregation, disaggregation, labels and expenses by nature0 / 2 lessons
  6. 6 · Not startedManagement-defined performance measures0 / 2 lessons
  7. 7 · Not startedEffective date, EU endorsement and transition0 / 2 lessons
  8. 8 · Not startedConsequential amendments: IAS 7, IAS 33 and IAS 80 / 2 lessons