Archive / 4.4 Income Statement

RSS feed for this section

Income statement defined

I get sometimes asked what the entity’s results are. ‘Results’ can be defined in two ways – financial position (e.g. entity’s balances at a certain date) and performance (revenues and expenses for a defined period). Whilst the balance sheet is something we’ll discuss separately, with this I would like to explain the income statement a […]

Continuing operations

What is usually stated, is the fact that a company ‘operates’ in specific field of industry. On the IFRS Income Statement the results of such activities are reflected under ‘continuing operations’. This is to simplify things however. The phrase ‘continuing operations’ means a bit more. As you may guess, the stress is on the word […]

IFRS Income Statement Template – Revenue

IFRS Income Statement Template, an example income statement prepared under IFRS reporting guidelines includes a line called “Revenue”. What it is and how is this disclosed on the income statement? What are the relevant notes that are required by IFRS? With this post I’ll try to answer to those questions. (more…)