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Chapter 3

1.3 Statement of profit or loss and other comprehensive income

A suggested format is included below:

Statement of profit or loss and other comprehensive income for
year ended 31 December 20X1

$m
Revenue X

Cost of sales (X)
––––
Gross profit/(loss) X/(X)

Distribution costs (X)

Administrative expenses (X)
––––
Profit/(loss) from operations X/(X)

Investment income X
Finance cost (X)

––––
Profit/(loss) before tax X/(X)

Income tax expense (X)
––––

Profit/(loss) for the period X/(X)
Other comprehensive income:

Items that will not be reclassified to profit or loss in future periods
Changes in revaluation surplus X/(X)

Income tax on the above (X)/X
Items that may be reclassified to profit or loss in future periods

Cash flow hedges X/(X)
Income tax on the above (X)/X

––––
Other comprehensive income for the period X/(X)
––––

Total comprehensive income X
––––

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