Zusammenfassung der Ressource
Measuring and Reporting financial Performance
- present Profit/Loss
- Used by large and small businesses
- Has to include
- Revenue
- Finance costs
- Share of profit or loss of associates
- Tax Expence
- A single amount comprising the total of:
- The post Tax Profit or loss of discontinued operations
- Post tax gain or loss recognised on the measurement to fair value. less cost to
sell or on disposal of assets or diposal groups constituting the discontinued
operations.
- Profit or Loss
- Key Questions answered by a statement of financial performance are:
- Did the entity operate successfully over the reporting period by returning a profit
- Profit = Total Revenue earned more than total expenses incurred
- Did a Loss arise?
- Loss= Total expenses incurred more than total revenue
- statement of comprehensive income
- required to be prepared by companies according to statutory requirements
- Three main types of statements
- Statement of Comp Income / Income statement / Profit/loss statement
- Simple
- Basic in nature and information. Its a listing of the revenue items and the expense items
- Classified
- Funcional method
- selling expenses
- directly related to selling the product.
- Admin expenses
- directly related to managing business affairs
- Finance expences
- Are a result of a Business's finances
- Miscellaneous expences
- expences that do not fit into a particular category