Restated comparatives

Learning objectives

• Determine the re-presentation of comparative periods so that the operation is presented as discontinued.L2, L3, L4

Normative references

• IFRS 5 §34The presentations and disclosures in para. 33 are re-presented for prior periods presented, so that they relate to all operations that have been discontinued by the end of the reporting period for the latest period presented.

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

2 questions

• The comparative periods of the income statement are restated so that discontinued operations are presented separately.L2
• In N, Quirel classifies its Textile division as a discontinued operation. Its N-1 income statement, already published, included the revenue and expenses of that division in each line. Which treatment of the N-1 comparative is consistent with IFRS 5?L3