All items of income and expense that arise during a financial period must be included in profit or loss.
e.g.changes in a revaluation surplus.These items are not included in the determination of the profit or loss that arose during a financial period.Instead,the balance of equity is directly adjusted.

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All items of income and expense that arise during a financial period must be included in profit or loss.
e.g.changes in a revaluation surplus.These items are not included in the determination of the profit or loss that arose during a financial period.Instead,the balance of equity is directly adjusted.

All Items of Income and Expense That Arise During a Financial