CERTYNEX IFRS ACADEMY

In Corvane SA's report at 30 September 20X5, the "third quarter 20X5" column of the statement of comprehensive income shows EUR 2,075,000, which is the nine-month year-to-date profit. The year-to-date profit published at 30 June 20X5 was EUR 1,390,000. What is the error?

The quarter column must show EUR 1,037,500, half of the nine-month year-to-date figure, so as to spread the profit evenly between the periods.

The quarter column must show EUR 685,000 (2,075,000 − 1,390,000); the year-to-date figure of EUR 2,075,000 belongs in the cumulative column.

The quarter column must show EUR 1,390,000, the half-year year-to-date profit, which serves as the measurement base of the third quarter.

There is no error: the profit of a quarter is shown as a year-to-date figure from the beginning of the year to the end of that quarter.