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ACCA Applied Knowledge · Financial Accounting · Statement of profit or loss and other comprehensive income

Under IFRS, which of the following items would be presented within other comprehensive income in a company's financial statements?

A gain on revaluation of property carried under the revaluation model is shown in other comprehensive income, then accumulated in equity as a revaluation surplus. The other items, disposal loss, receivables impairment and loan interest, are all expenses charged in profit or loss.

  1. AGain on revaluation of a property carried under the revaluation modelCorrect
  2. BLoss on disposal of plant and equipment
  3. CImpairment loss on trade receivables
  4. DInterest paid on a bank loan

Explanation

Revaluation gains on property, plant and equipment under the revaluation model are recognised in other comprehensive income and accumulated in the revaluation surplus. Disposal losses, receivables impairment and finance costs are all recognised in profit or loss.

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