IFRS 5 Discontinued operations in profit or loss

IFRS 5 Discontinued operations in profit or loss

Presenting discontinued operations in the statement of profit and loss

Paragraph 33 of the IFRS requires an entity to disclose a single amount in the statement of profit and loss for discontinued operations with an analysis in the notes or in a section of the statement of profit and loss separate from continuing operations. Example 11 illustrates how these requirements might be met.

Example 11

XYZ GROUP – STATEMENT OF PROFIT AND LOSS FOR THE YEAR ENDED

31 DECEMBER 20X2 (illustrating the classification of expenses by function)

(in thousands of currency units)

20X2

20X1

Continuing operations

Revenue

X

X

Cost of sales

(X)

(X)

Gross profit

X

X

Other income

X

X

Distribution costs

(X)

(X)

Administrative expenses

(X)

(X)

Other expenses

(X)

(X)

Finance costs

(X)

(X)

Share of profit of associates

X

X

Profit before tax

X

X

Income tax expense

(X)

(X)

Profit for the period from continuing operations

X

X

Discontinued operations

Profit for the period from discontinued operations

X

X

Profit for the period

X

X

Attributable to:

Owners of the parent

Profit for the period from continuing operations

X

X

Profit for the period from discontinued operations

X

X

Profit for the period attributable to owners of the parent

X

X

Non-controlling interests

Profit for the period from continuing operations

X

X

Profit for the period from discontinued operations

X

X

Profit for the period attributable to non- controlling interests

X

X

X

X

IFRS 5 Discontinued operations in profit or loss