One statement or two for profit or loss and comprehensive income

Learning objectives

• Identify the two ways of presenting comprehensive income.L1
• Explain the order of the two statements when they are presented separately.L1, L2

Normative references

• IAS 1 §10AAn entity may present profit or loss and other comprehensive income in a single statement or in two separate statements; in the two-statement approach, the statement of profit or loss immediately precedes the statement presenting comprehensive income.

Original summaries of the paragraphs (reference register), never a quotation of the standard.

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