Under the accounting standards which of these is included in the calculation of a company's profit or loss not including other comprehensive income in the definition of profit)?
.Downward revaluations of non-current assets,not requiring adjustment to a revaluation surplus
.Upward revaluations of non-current assets requiring adjustment to a revaluation surplus
.Gains or losses on remeasuring investments in equity instruments
.Adjustments from translation of the financial statements of a foreign operation

Question

Quizplus · Accepted Answer

Downward revaluations of non-current assets, not requiring adjustment to a revaluation surplus, are included in the calculation of a company's profit or loss not including other comprehensive income in the definition of profit. Upward revaluations of non-current assets requiring adjustment to a revaluation surplus are excluded, as the adjustment is recorded in other comprehensive income. Gains or losses on remeasuring investments in equity instruments and adjustments from translation of the financial statements of a foreign operation are also excluded, as they are recorded in other comprehensive income.

Under the Accounting Standards Which of These Is Included in the Calculation