Question

• What are the components of financial statements as per Ind-AS-1-Preparation of Financial
Statements?​

Answer 1

(a) revenue; (b) finance costs; (c) share of the profit or loss of associates and joint ventures accounted for using the equity method; (d) pre-tax gain or loss recognised on the disposal of assets or settlement of liabilities attributable to discontinuing operations; (e) tax expense; and (f) profit or loss.

Answer 2

Answer:

(a) revenue;

(b) finance costs;

(c) share of the profit or loss of associates and joint ventures accounted for using the equity method;

(d) pre-tax gain or loss recognised on the disposal of assets or settlement of liabilities attributable to discontinuing operations;

(e) tax expense; and

(f) profit or loss.