The approach contained in IAS 1/AASB 101 to the determination of a company's profit or loss is:

Question

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IAS 1/AASB 101 follows the all-inclusive profit approach, which includes all transactions, events, gains, and losses that have been recognized in the period, regardless of their nature, i.e., operating or non-operating. This approach results in the reporting of a comprehensive income statement that provides a complete picture of the company's performance for the period.

The Approach Contained in IAS 1/AASB 101 to the Determination