Week 7 - Discontinued Operations Flashcards
1
Q
What is a discontinued operation
A
Part of an entity that’s been disposed of or is classified as held-for-sale.
2
Q
How are discontinued operations shown on the SFP
A
An entity must disclose a single amount on the face of the statement of profit or loss, comprising of the total:
The post-tax profit or loss of discontinued operations.
It goes in the other comprehensive income section either as a profit or a loss.
3
Q
A
