Document ID: chunk:federal_register_of_legislation:F2024L00708:body:0:p52
Version: federal_register_of_legislation:F2024L00708
Segment Type: other
Provision Reference: 
Character Range: 139041–142156

in the period. They could include amounts that have been recognised as part of the carrying amount of an asset. If an entity:
(a) presents amounts that are not the amounts recognised as an expense in the period, it will also present an additional line item for the change in the carrying amount of the affected assets. For example, applying paragraph 39 of AASB 102, an entity might present a line item for changes in inventories of finished goods and work in progress.
(b) discloses, applying paragraph 83(b), amounts that are not the amounts recognised as an expense in the period, the entity shall give a qualitative explanation of that fact, identifying the assets involved.

Aggregation of operating expenses
B85 To apply paragraph 78, an entity shall consider what level of aggregation for operating expenses provides the most useful structured summary. For example, an entity might have various administrative activities (such as human resources, information technology, legal and accounting). To provide a useful structured summary, the entity might aggregate operating expenses relating to those activities based on their shared characteristic – all are expenses for resources consumed in administrative activities. Accordingly the entity might present them in a line item labelled as 'administrative expenses'. The entity might also have expenses for resources consumed in selling activities. These expenses have a dissimilar characteristic from the administrative expenses – selling expenses arise from resources consumed in selling activities and administrative expenses arise from resources consumed in administrative activities. These characteristics are sufficiently dissimilar that disaggregation – presentation in separate line items for selling expenses and administrative expenses – might be necessary to provide a useful structured summary of the entity's expenses.

Statement presenting comprehensive income

Other comprehensive income
B86 Some Australian Accounting Standards specify circumstances when an entity includes particular items outside the statement of profit or loss in the current reporting period. AASB 108 specifies two such circumstances: the correction of errors and the effect of changes in accounting policies. Other Australian Accounting Standards require or permit an entity to exclude from profit or loss components of other comprehensive income that meet the Conceptual Framework for Financial Reporting's definition of income or expenses (see paragraph B87).
          AusCFB86  Notwithstanding paragraph B86, in respect of AusCF entities, some Australian Accounting Standards specify circumstances when an entity includes particular items outside the statement of profit or loss in the current reporting period. AASB 108 specifies two such circumstances: the correction of errors and the effect of changes in accounting policies. Other Australian Accounting Standards require or permit an entity to exclude from profit or loss components of other comprehensive income that meet the Framework'sAusCF[2] definition of income or expenses (see paragraph B87).
B87 Appendix