IAS 1 requires profit or loss and the total comprehensive income for the period reported on the face of the statement of comprehensive income to be disaggregated between the non-controlling interest and the owners of the parent.

Question

Quizplus · Accepted Answer

This statement is true according to International Accounting Standard 1 (IAS 1) which specifies that the profit or loss and total comprehensive income for the period should be presented on the face of the statement of comprehensive income, disaggregated between the non-controlling interest and the owners of the parent. This helps to provide users of financial statements with more detailed information about the performance and financial position of the reporting entity, particularly in cases where there are minority interests in subsidiaries or joint ventures.

IAS 1 Requires Profit or Loss and the Total Comprehensive