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

Which of the following is a set of items that the Statement of Profit and Loss must present, in addition to the profit or loss and OCI sections, under Ind AS 1?

The Statement of Profit and Loss must show profit or loss, total other comprehensive income, and comprehensive income for the period, which is the sum of profit or loss and OCI. EBITDA and extraordinary items are not mandated.

  1. AProfit or loss, total other comprehensive income, and comprehensive income for the periodCorrect
  2. BProfit before tax, EBITDA, and total other comprehensive income
  3. COperating profit, extraordinary items, and comprehensive income
  4. DProfit or loss and retained earnings carried forward

Explanation

Para 81A requires the statement to present profit or loss, total other comprehensive income, and comprehensive income for the period, being the total of profit or loss and OCI. EBITDA, operating profit and extraordinary items are not required line items.

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