Register now or log in to join your professional community.
False : International Accounting Standard says that, a company should not report any items of income or expense as extraordinary items, in the separate income statement or the statement of comprehensive income.
But True As per Indian GAAP AS -5 "Net Profit or Loss for the Period, Prior Period Items and Changes in Accounting Policies" Extraordinary Items shell be shown as a separate line Item on the statement of Profit and Losses.
Do you need help in adding the right keywords to your CV? Let our CV writing experts help you.
