Part 3: What lies beneath - income statement

FRS 102 is set to introduce subtle changes to the presentation of the profit and loss account. FRS 102 will introduce a choice between presenting a single ‘Statement of Comprehensive Income’ (SoCI) or two statements: an ‘Income Statement’ (similar to the current profit and loss account) and a ‘SoCI’ (similar to the current statement of total recognised gains and losses (STRGL)).

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Miles Needham

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Restructuring and Insolvency