Under IAS 1 Presentation of Financial Statements profit or loss attributable to non-controlling interests is prescribed for presentation in:
A) an equity statement;
B) a statement of financial position;
C) a statement of profit or loss and other comprehensive income;
D) a statement of cash flows.

Question

Quizplus · Accepted Answer

According to IAS 1, profit or loss attributable to non-controlling interests should be presented in the statement of profit or loss and other comprehensive income. This is typically done through presenting the profit or loss for the reporting period attributable to the parent and to non-controlling interests separately in the statement of profit or loss. This ensures that users of the financial statements can see the impact of non-controlling interests on the financial performance of the entity.

Under IAS 1 Presentation of Financial Statements Profit or Loss