Page 180 - Microsoft Word - 00 - Prelims.docx

Chapter 15

3.2 Statement of profit or loss and other comprehensive income

Statement of profit or loss and other comprehensive income for ABC for the
year ended 31 December 20X4

$000

Revenue X
Cost of sales (X)

––––
Gross profit/(loss) X/(X)

Distribution costs (X)
Administrative expenses (X)

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

Income from investments X
Finance cost (X)

––––
Profit/(loss) before tax X/(X)

Income tax expense (X)
––––
Profit/(loss) for the period X/(X)

Other comprehensive income:

Revaluation gain/(loss) X/(X)
––––
Total comprehensive income X

––––

Tutor notes guidance – discussion points

Explain to students the difference between the statement of profit or loss and
the statement of profit or loss and other comprehensive income

Take students through the relationship between the SOFP and P&L&OCI –
use the diagram within chapter 17 to help illustrate if need be.

174