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IFRS 18Presentation and Disclosure in Financial Statements

IFRS 18Chapter 3Lesson 1

The required subtotals: from operating profit to profit for the period

Step 1 of 7Learning objectives

Go deeper+1 point of attention

The statement of profit or loss contains two required subtotals: operating profit (the operating category) and then profit before financing and income taxes (plus the investing category). Financing, income taxes and discontinued operations then lead to profit for the period.

45 minNot started

Learning objectives

  • Identify the content of operating profit and of profit before financing and income taxes.
  • Calculate these two subtotals from items classified by category.
  • Explain the place of financing, income taxes and discontinued operations in the chain down to profit for the period.

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