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CMA Intermediate · Corporate Accounting and Auditing · Presentation of Financial Statements (Ind AS 1)

Under Ind AS 1, para 82, which pair of items must both appear as separate line items in the profit or loss section of the Statement of Profit and Loss?

Finance costs and tax expense must both be separate line items in the profit or loss section. Comprehensive income is a total presented separately, and dividends and cash flows do not belong in that section.

  1. AFinance costs and tax expenseCorrect
  2. BDividends paid and tax expense
  3. CFinance costs and total comprehensive income
  4. DRevenue and cash flows from operations

Explanation

Para 82 requires finance costs and tax expense as line items in the profit or loss section. Total comprehensive income is presented under para 81A as a separate total outside the profit or loss section, dividends paid are an equity movement, and cash flows belong to the cash flow statement.

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