IFRS requires that a single amount be disclosed within the income statement for
A) the post-tax profit/loss on discontinued operations and the pre-tax gain/loss on the disposal of discontinued operational assets.
B) the pre-tax profit/loss on discontinued operations and the post-tax gain/loss on the disposal of discontinued operational assets.
C) the pre-tax profit/loss on discontinued operations and the pre-tax gain/loss on the disposal of discontinued operational assets.
D) the post-tax profit/loss on discontinued operations and the post-tax gain/loss on the disposal of discontinued operational assets.

Question

Quizplus · Accepted Answer

IFRS requires that a single amount be disclosed within the income statement for the post-tax profit/loss on discontinued operations and the post-tax gain/loss on the disposal of discontinued operational assets. This single amount is known as Discontinued Operations. IFRS 5 requires that the details of discontinued operations should be disclosed separately in the notes to the financial statements.

IFRS Requires That a Single Amount Be Disclosed Within the Income