Intermediate Accounting (16th Edition)

Published by Wiley
ISBN 10: 1118743202
ISBN 13: 978-1-11874-320-1

Chapter 4 - Income Statement and Related Information - IFRS Insights - IFRS Concepts and Application - Page 198: IFRS4-3

Answer

The loss should be placed in the income statement in the section for “Other expenses and losses”. Besides, the details of the loss should be included in the notes that appear after the financial statements.

Work Step by Step

The loss should be placed in the income statement in the section for “Other expenses and losses”. Besides, the details of the loss should be included in the notes that appear after the financial statements.
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