Editing Income statement (section)

==Requirements of IFRS==
On 6 September 2007, the [[International Accounting Standards Board]] issued a revised ''IAS 1: Presentation of Financial Statements'', which is effective for annual periods beginning on or after 1 January 2009.

A business entity adopting IFRS must include:
* a '''statement of comprehensive income''' or
* ''two'' separate statements comprising:
:# an '''income statement''' displaying components of profit or loss ''and''
:# a ''statement of comprehensive income'' that ''begins'' with profit or loss (bottom line of the income statement) and displays the items of [[other comprehensive income]] for the reporting period. (IAS1.81)

All non-owner changes in equity (i.e., ''comprehensive income'') shall be presented either in the statement of comprehensive income or in a separate income statement and a statement of comprehensive income. Components of comprehensive income may not be presented in the [[statement of changes in equity]].

''[[Comprehensive income]]'' for a period includes profit or loss (net income) for that period and [[other comprehensive income]] recognised in that period.

All items of income and expense recognised in a period must be included in profit or loss unless a Standard or an Interpretation requires otherwise. (IAS 1.88) Some IFRSs require or permit that some components to be excluded from profit or loss and instead to be included in other comprehensive income. (IAS 1.89)

===Items and disclosures===
The '''statement of comprehensive income''' should include:<ref name="iasplus.com"/> (IAS 1.82)
# [[Revenue]]
# Finance costs (including [[interest expense]]s)
# Share of the profit or loss of [[associate company|associates]] and [[joint ventures]] accounted for using the [[equity method]]
# [[Tax]] expense
# A ''single'' amount comprising the total of (1) the ''post-tax'' profit or loss of ''[[discontinued operations]]'' and (2) the ''post-tax'' gain or loss recognised on the disposal of the assets or disposal group(s) constituting the ''discontinued operation''
# Profit or loss
# Each component of [[other comprehensive income]] classified by nature
# Share of the other comprehensive income of associates and joint ventures accounted for using the equity method
# [[Total comprehensive income]]

The following items must also be disclosed in the statement of comprehensive income as allocations for the period: (IAS 1.83)
* Profit or loss for the period attributable to [[non-controlling interest]]s and owners of the [[parent company|parent]]
* Total comprehensive income attributable to non-controlling interests and owners of the parent

''No'' items may be presented in the statement of comprehensive income (or in the income statement, if separately presented) or in the notes as ''extraordinary items''.