Document ID: chunk:federal_register_of_legislation:F2024L00708:body:0:p17
Version: federal_register_of_legislation:F2024L00708
Segment Type: other
Provision Reference: 
Character Range: 44618–47429

investing category.
72 Profit or loss is the total of income less expenses included in the statement of profit or loss. Accordingly, it comprises all income and expenses classified in all categories in the statement of profit or loss (see paragraph 47).
73 An entity shall not apply paragraph 69(b) if it applies the accounting policy set out in paragraph 65(a)(ii) of classifying in the operating category income and expenses from liabilities that do not relate to the provision of financing to customers. However, such an entity shall apply paragraph 24 to determine whether to present an additional subtotal after operating profit and before the financing category. For example, the entity would present a subtotal for operating profit or loss and income and expenses from investments accounted for using the equity method if the entity determines doing so is necessary to provide a useful structured summary of its income and expenses.
74 If an entity described in paragraph 73 presents an additional subtotal comprising operating profit or loss and all income and expenses classified in the investing category, it shall not label the subtotal in a way that implies the subtotal excludes financing amounts, such as 'profit before financing'. Applying paragraph 43, the entity shall label the subtotal in a way that faithfully represents the amounts included in the subtotal.

Items to be presented in the statement of profit or loss or disclosed in the notes
75 An entity shall present in the statement of profit or loss line items for (see paragraph B77):
(a) amounts required by this Standard, namely:
(i) revenue, presenting separately the line items described in (b)(i) and (c)(i);
(ii) operating expenses, presenting separately line items as required by paragraphs 78 and 82(a);
(iii) share of the profit or loss of associates and joint ventures accounted for using the equity method;
(iv) income tax expense or income; and
(v) a single amount for the total of discontinued operations (see AASB 5);
(b) amounts required by AASB 9, namely:
(i) interest revenue calculated using the effective interest method;
(ii) impairment losses (including reversals of impairment losses or impairment gains) determined in accordance with Section 5.5 of AASB 9;
(iii) gains and losses arising from the derecognition of financial assets measured at amortised cost;
(iv) any gain or loss arising from the difference between the fair value of a financial asset and its previous amortised cost at the date of reclassification from amortised cost measurement to measurement at fair value through profit or loss; and
(v) any cumulative gain or loss previously recognised in other comprehensive income that is reclassified to profit or loss at the date of reclassification of a financial asset from measurement at fair value