[et_pb_section admin_label=”Header – All Pages” global_module=”1221″ transparent_background=”off” background_color=”#1e73be” allow_player_pause=”off” inner_shadow=”off” parallax=”off” parallax_method=”off” padding_mobile=”off” make_fullwidth=”off” use_custom_width=”off” width_unit=”on” make_equal=”off” use_custom_gutter=”off” gutter_width=”3″ custom_padding=”||0px|”][et_pb_row global_parent=”1221″ admin_label=”row”][et_pb_column type=”4_4″][et_pb_post_title global_parent=”1221″ admin_label=”Post Title” title=”on” meta=”off” author=”on” date=”on” categories=”on” comments=”on” featured_image=”off” featured_placement=”below” parallax_effect=”on” parallax_method=”on” text_orientation=”left” text_color=”light” text_background=”off” text_bg_color=”rgba(255,255,255,0.9)” module_bg_color=”rgba(255,255,255,0)” title_all_caps=”off” use_border_color=”off” border_color=”#ffffff” border_style=”solid” title_font=”|on|||” title_font_size=”35″ custom_padding=”10px|||”] [/et_pb_post_title][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section admin_label=”Section” global_module=”1228″ fullwidth=”off” specialty=”off” transparent_background=”off” allow_player_pause=”off” inner_shadow=”off” parallax=”off” parallax_method=”off” custom_padding=”0px||0px|” padding_mobile=”on” make_fullwidth=”off” use_custom_width=”off” width_unit=”on” make_equal=”off” use_custom_gutter=”off” gutter_width=”3″][et_pb_row global_parent=”1228″ admin_label=”Row” make_fullwidth=”off” use_custom_width=”off” width_unit=”on” use_custom_gutter=”off” gutter_width=”3″ custom_padding=”0px||0px|” padding_mobile=”off” allow_player_pause=”off” parallax=”off” parallax_method=”off” make_equal=”off” parallax_1=”off” parallax_method_1=”off” column_padding_mobile=”on”][et_pb_column type=”4_4″][et_pb_text global_parent=”1228″ admin_label=”Text” background_layout=”light” text_orientation=”left” text_font_size=”14″ use_border_color=”off” border_color=”#ffffff” border_style=”solid”]
[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section admin_label=”Section” fullwidth=”off” specialty=”off”][et_pb_row admin_label=”Row”][et_pb_column type=”1_2″][et_pb_text admin_label=”Text” background_layout=”light” text_orientation=”center” text_font_size=”14″ use_border_color=”off” border_color=”#ffffff” border_style=”solid”] [button link=”http://www.frs102.com/members/premium-toolkit/” type=”big” color=”red”] Return to Main Index[/button] [/et_pb_text][/et_pb_column][et_pb_column type=”1_2″][et_pb_text admin_label=”Text” background_layout=”light” text_orientation=”center” text_font_size=”14″ use_border_color=”off” border_color=”#ffffff” border_style=”solid”] [button link=”https://uk.frs102.com/members/premium-toolkit/section-5/” type=”big” color=”red”] Return to Section 5 Home[/button] [/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section admin_label=”Section” fullwidth=”off” specialty=”off” transparent_background=”off” allow_player_pause=”off” inner_shadow=”off” parallax=”off” parallax_method=”off” padding_mobile=”off” make_fullwidth=”off” use_custom_width=”off” width_unit=”on” make_equal=”off” use_custom_gutter=”off” gutter_width=”3″][et_pb_row admin_label=”Row”][et_pb_column type=”4_4″][et_pb_text admin_label=”Main Body Text” background_layout=”light” text_orientation=”justified” use_border_color=”off” border_color=”#ffffff” border_style=”solid”]Section 5 – Example 1 – Single statement approach for a group
Example 1: Example of Single statement approach for a Group
| Consolidated Statement of Comprehensive Income | |||
| For the year ended 31 December 2015 | |||
| Notes | 2015 | 2014 | |
| CU | CU | ||
| Turnover | 1 | XXXXX | XXXXX |
| Cost of sales | (XXXX) | (XXXX) | |
| Gross profit | XXXX | XXXX | |
| Selling and distribution costs | (XXX) | (XXX) | |
| Administrative expenses | (XXX) | (XXX) | |
| Other operating income | XXX | XXX | |
| Group operating profit | 3 | XXX | XXX |
| Share of profit in associates | 4 | XXX | XXX |
| Share of profit in joint venture | 5 | XXX | XXX |
| Profit on ordinary activities before interest and taxation | XXXX | XXXX | |
| Interest receivable and similar income | 6 | XXX | XXX |
| Interest payable and similar income | 7 | (XXX) | (XXX) |
| Profit on ordinary activities before taxation | XXXX | XXXX | |
| Tax on profit on ordinary activities | 8 | (XXX) | (XXX) |
| Profit on ordinary activities after taxation | 1,000,00 | 500,000 |
Other comprehensive income:
| Exchange differences on retranslation of foreign operations | XXX | XXX |
| Group cash flow hedges | ||
| -effective portion of changes in fair value to cash flow hedges | 9 XXX | XXX |
| -fair value of cash flow hedges transferred to income statement | 10 XXX | XXX |
| Actuarial loss in respect of the defined pension scheme | 11 (XXX) | (XXX) |
| Gain/(loss) on revaluation of intangible assets | 12 XXX | (XXX) |
| Gain/(loss) on revaluation of property, plant and equipment | 13 XXX | (XXX) |
| Gain/(loss) on revaluation of subsidiaries, associates, etc. | 14 XXX | (XXX) |
| Deferred tax on components of other comprehensive income | 15 XXX | XXX |
| Total other comprehensive income for the year net of tax | 200,000 | (100,000) |
| Total comprehensive income for the year | 1,200,000 | 400,000 |
| Total comprehensive income for the financial year attributable to: Non-controlling interests | XXXX | XXXX |
| Owners of the parent company | XXX | XXX |
| 1,200,000 | 400,000 | |
| Profit for the financial year attributable to: Non-controlling interests | XXXX | XXXX |
| Owners of the parent company | XXX | XXX |
| 1,000,000 | 500,000 |
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Section 5 – Example 2 – Single statement approach for an individual entity
Example 2: Example of Single statement approach for an individual entity (i.e. not group accounts)
| Statement of Comprehensive Income | |||
| For the year ended 31 December 2015 | |||
| Notes | 2015 | 2014 | |
| CU | CU | ||
| Turnover | 1 | XXXXX | XXXXX |
| Cost of sales | (XXXX) | (XXXX) | |
| Gross profit | XXXX | XXXX | |
| Selling and distribution costs | (XXX) | (XXX) | |
| Administrative expenses | (XXX) | (XXX) | |
| Other operating income | XXX | XXX | |
| Operating profit | 3 | XXX | XXX |
| Income from shares in group undertakings | 4 | XXX | XXX |
| Income from shares in other financial assets | 4 | XXX | XXX |
| Income from shares in participating interests | 5 | XXX | XXX |
| Profit on ordinary activities before interest and taxation | XXXX | XXXX | |
| Interest receivable and similar income | 6 | XXX | XXX |
| Interest payable and similar income | 7 | (XXX) | (XXX) |
| Profit on ordinary activities before taxation | XXXX | XXXX | |
| Tax on profit on ordinary activities | 8 | (XXX) | (XXX) |
| Profit for the financial year | 1,000,00 | 500,000 |
| cash flow hedges | ||
| – effective portion of changes in fair value to cash flow hedges | 9 XXX | XXX |
| – fair value of cash flow hedges transferred to income statement | 10 XXX | XXX |
| Actuarial loss in respect of the defined pension scheme | 11 (XXX) | (XXX) |
| Gain/(loss) on revaluation of intangible assets | 12 XXX | (XXX) |
| Gain/(loss) on revaluation of property, plant and equipment | 13 XXX | (XXX) |
| Gain/(loss) on revaluation of subsidiaries, associates, etc. | 14 XXX | (XXX) |
| Deferred tax on components of other comprehensive income | 15 XXX | XXX |
| Total other comprehensive income for the year net of tax | 200,000 | (100,000) |
| Total comprehensive income for the year | 1,200,000 | 400,000 |
| Total comprehensive income for the financial year attributable to: | ||
| Owners of the parent company | 1,200,000 | 400,000 |
| 1,200,000 | 400,000 | |
| Profit for the financial year attributable to: | ||
| Owners of the parent company | 1,000,000 | 400,000 |
| 1,000,000 | 500,000 |
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Section 5 – Example 4 – Two statement approach for an individual entity
Two statement approach for an individual entity (i.e. not group accounts)
| Profit and Loss Account | |||
| For the Year Ended 31 December 2015 | |||
| Notes | 2015 | 2014 | |
| CU | CU | ||
| Turnover | 1 | XXXXX | XXXXX |
| Cost of sales | (XXXX) | (XXXX) | |
| Gross profit | XXXX | XXXX | |
| Selling and distribution costs | (XXX) | (XXX) | |
| Administrative expenses | (XXX) | (XXX) | |
| Other operating income | XXX | XXX | |
| Operating profit | 3 | XXX | XXX |
| Income from shares in group undertakings | 4 | XXX | XXX |
| Income from shares in other financial assets | 4 | XXX | XXX |
| Income from shares in participating interests | 5 | XXX | XXX |
| Profit on ordinary activities before interest and taxation | XXXX | XXXX | |
| Interest receivable and similar income | 6 | XXX | XXX |
| Interest payable and similar income | 7 | (XXX) | (XXX) |
| Profit on ordinary activities before taxation | XXXX | XXXX | |
| Tax on profit on ordinary activities | 8 | (XXX) | (XXX) |
| Profit for the financial year | 1,000,000 | 500,000 |
| Profit for the financial year attributable to: | ||
| Owners of the parent company | 1,000,000 | 500,000 |
| 1,000,000 | 500,000 |
SEPARATE PAGE IN THE FINANCIAL STATEMENTS INCLUDE:
Consolidated Statement of Comprehensive Income
| Profit for the financial year | 1,000,000 | 500,000 |
| Cash flow hedges | ||
| – effective portion of changes in fair value to cash flow hedges | 9 XXX | XXX |
| – fair value of cash flow hedges transferred to income statement | 10 XXX | XXX |
| Actuarial loss in respect of the defined pension scheme | 11 (XXX) | (XXX) |
| Gain/(loss) on revaluation of intangible assets | 12 XXX | (XXX) |
| Gain/(loss) on revaluation of property, plant and equipment | 13 XXX | (XXX) |
| Gain/(loss) on revaluation of subsidiaries, associates, etc. | 14 XXX | (XXX) |
| Deferred tax on components of other comprehensive income | 15 XXX | XXX |
| Total other comprehensive income for the year net of tax | 200,000 | (100,000) |
| Total comprehensive income for the year | 1,200,000 | 400,000 |
| Total comprehensive income for the financial year attributable to: | ||
| Owners of the parent company | XXX | XXX |
| 1,200,000 | 400,000 |
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Section 5 – Example 5 – Consolidated Statement of Comprehensive Income
Example 4: Consolidated Statement of Comprehensive Income
| For the Year Ended 31 December 2015 | |||
| Notes | 2015 | 2014 | |
| CU | CU | ||
| Revenue | 1 | XXXXX | XXXXX |
| Cost of sales | (XXXX) | (XXXX) | |
| Gross profit | XXXX | XXXX | |
| Selling and distribution costs | (XXX) | (XXX) | |
| Administrative expenses | (XXX) | (XXX) | |
| Other operating income | XXX | XXX | |
| Group operating profit | 3 | XXX | XXX |
| Share of profit in associates | 4 | XXX | XXX |
| Share of profit in joint venture | 5 | XXX | XXX |
| Profit before interest and taxation | XXXX | XXXX | |
| Finance income | 6 | XXX | XXX |
| Finance costs | 7 | (XXX) | (XXX) |
| Profit on before taxation | XXXX | XXXX | |
| Income tax on profit | 8 | (XXX) | (XXX) |
| Profit for the year | 1,000,00 | 500,000 |
| cash flow hedges | ||
| – effective portion of changes in fair value to cash flow hedges | 9 XXX | XXX |
| – fair value of cash flow hedges transferred to income statement | 10 XXX | XXX |
| Actuarial loss in respect of the defined pension scheme | 11 (XXX) | (XXX) |
| Share of other comprehensive income of associates | 12 XXX | (XXX) |
| Share of other comprehensive income of joint controlled entities | 12 XXX | (XXX) |
| Gain/(loss) on revaluation of intangible assets | 12 XXX | (XXX) |
| Gain/(loss) on revaluation of property, plant and equipment | 13 XXX | (XXX) |
| Gain/(loss) on revaluation of subsidiaries, associates, etc. | 14 XXX | (XXX) |
| Deferred tax on components of other comprehensive income | 15 XXX | XXX |
| Total other comprehensive income for the year net of tax | 200,000 | (100,000) |
| Total comprehensive income for the year | 1,200,000 | 400,000 |
| Total comprehensive income for the financial year attributable to: | ||
| Owners of the parent company | 1,200,000 | 400,000 |
| 1,200,000 | 400,000 | |
| Profit for the financial year attributable to: | ||
| Owners of the parent company | 1,000,000 | 400,000 |
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