Document ID: chunk:federal_register_of_legislation:F2025C00209:front:0:p14
Version: federal_register_of_legislation:F2025C00209
Segment Type: other
Provision Reference: 
Character Range: 39807–43327

an entity shall include, in the statement(s) presenting profit or loss and other comprehensive income, line items that present the following amounts for the period:
           1.                     revenue;
           2.                    finance costs;
           3.                     share of the profit or loss of investments in associates and joint ventures accounted for using the equity method (see AASB 128 Investments in Associates and Joint Ventures);
           4.                    tax expense;
           5.                     a single amount for the total of:
                1.                      discontinued operations (see AASB 5 Non-current Assets Held for Sale and Discontinued Operations); and
                2.                    the post-tax gain or loss attributable to an impairment, or reversal of an impairment, of the assets in the discontinued operation (see AASB 5), both at the time and subsequent to being classified as a discontinued operation and to the disposal of the net assets constituting the discontinued operation;
           1.                     profit or loss (if an entity has no items of other comprehensive income, this line need not be presented);
           2.                    each item of other comprehensive income (see paragraph 51(b)) classified by nature (excluding amounts in (h)). Such items shall be grouped into those that, in accordance with other Australian Accounting Standards:
                1.                      will not be reclassified subsequently to profit or loss; and
                2.                    will be reclassified subsequently to profit or loss when specific conditions are met;
           1.                    share of the other comprehensive income of associates and joint ventures accounted for by the equity method; and
           2.                      total comprehensive income (if an entity has no items of other comprehensive income, it may use another term for this line such as profit or loss).
          [Based on IFRS for SMEs Standard paragraph 5.5]

      1.                     An entity shall disclose separately the following items in the statement(s) presenting profit or loss and other comprehensive income as allocations for the period:
           1.                     profit or loss for the period attributable to:
                1.                      non-controlling interests; and
                2.                    owners of the parent; and
           1.                    total comprehensive income for the period attributable to:
                1.                      non-controlling interests; and
                2.                    owners of the parent.
          [IFRS for SMEs Standard paragraph 5.6]

Two-statement approach
      1.                     Under the two-statement approach, the statement of profit or loss shall display, as a minimum, line items that present the amounts in paragraph 52(a)–52(f) for the period, with profit or loss as the last line. The statement of comprehensive income shall begin with profit or loss as its first line and shall display, as a minimum, line items that present the amounts in paragraph 52(g)–52(i) and paragraph 53 for the period. [IFRS for SMEs Standard paragraph 5.7]

Requirements applicable to both approaches
      1.                     Under AASB 108, the effects of corrections of errors and changes in accounting policies are presented as retrospective adjustments of prior periods instead of as part of profit or loss