Document ID: chunk:federal_register_of_legislation:F2024L00708:body:0:p49
Version: federal_register_of_legislation:F2024L00708
Segment Type: other
Provision Reference: 
Character Range: 131192–134004

the gains or losses in this manner and instead shall classify any gain or loss on the derivative in the operating category.
B76 The requirements in paragraphs B70–B75 specify only how to classify income and expenses into categories of the statement of profit or loss. They do not prescribe the line item (or line items) in which to include such income and expenses, nor do they override the requirements in other Australian Accounting Standards.

Items to be presented in the statement of profit or loss or disclosed in the notes
B77 An entity may be required to present a line item listed in paragraph 75, or specified in another Australian Accounting Standard, in more than one of the categories listed in paragraph 47. For example, an entity that does not invest in assets or provide financing to customers as a main business activity may be required to present the line item specified in paragraph 75(b)(ii) of impairment losses determined in accordance with Section 5.5 of AASB 9 in:
(a) the operating category – if it relates to receivables for goods and services as described in paragraph B48(b); and
(b) the investing category – if it relates to financial assets that generate a return individually and largely independently of the entity's other resources as described in paragraph B46.
B78 Paragraphs 24 and 41(c) require an entity to present additional line items in the statement of profit or loss if doing so is necessary to provide a useful structured summary of the entity's income and expenses. An entity uses its judgement to make this determination (including whether it is necessary to disaggregate the line items listed in paragraph 75). Paragraphs 20 and 41(d) require an entity to disaggregate items to disclose material information in the notes. An entity also uses its judgement to make this determination. Paragraph 41 requires the entity to base its judgements on an assessment of whether the items have characteristics that are shared (similar characteristics) or characteristics that are not shared (dissimilar characteristics). Such characteristics include:
(a) nature (see paragraph 80);
(b) function (role) within the entity's business activities (see paragraph 81);
(c) persistence (including the frequency of the item of income or expense or whether it is recurring or non-recurring);
(d) measurement basis;
(e) measurement uncertainty or outcome uncertainty (or other risks associated with an item);
(f) size;
(g) geographical location or regulatory environment;
(h) tax effects (for example, if different tax rates apply to items of income or expense); and
(i) whether the income or expenses arise on initial recognition of a transaction or event or from a subsequent change in estimate relating to the transaction or event.
B79 Income and expenses that might have sufficiently