In terms of revenue related disclosures on the face of the statement of profit or loss and other comprehensive income:
A) IAS 1 Presentation of Financial Statements requires revenue by category to be disclosed on the face of the statement of profit or loss and other comprehensive income.
B) IAS 18 Revenue requires revenue by category to be disclosed on the face of the statement of profit or loss and other comprehensive income.
C) IAS 1 Presentation of Financial Statements requires total revenue to be disclosed on the face of the statement of profit or loss and other comprehensive income.
D) IAS 18 Revenue requires total revenue to be disclosed on the face of the statement of profit or loss and other comprehensive income.

Question

Quizplus · Accepted Answer

IAS 1 requires total revenue to be disclosed on the face of the statement of profit or loss and other comprehensive income. While IAS 18 provides guidance on recognizing revenue, it does not specify how revenue should be disclosed on the financial statements.

In Terms of Revenue Related Disclosures on the Face of the Statement