IAS 1 Statement of comprehensive income

An entity can present all items of incomes and expenses in either:

• A single comprehensive statement; or
• Two statements – First displaying components of profit or loss, Second beginning with profit / loss and displaying other comprehensive income.

As a minimum SOCI shall include line items presenting amounts for the period

• Revenue
• Finance costs
• Share of profit or loss of associates and JV’s using equity method
• Tax expense
• Post tax profit or loss of discontinued operations
• Profit or loss
• Each component of other comprehensive income classified by nature
• Share of comprehensive income of associates and JV’s using equity method

Disclose separately profit attributable to – non-controlling interests and owners of parent

No items of income or expense shall be presented as extraordinary items.

The analysis of expenses and revenues shall be presented using classification either based on there nature or function whichever provides more reliable and relevant information.