I n t e r a c t I v e t e X t foundations in Accountancy/ acca financial accounting (ffa/FA) bpp learning Media is an acca approved Content Provider

Balance at 1.1.X2 

  

X 

  

X 

 

X 

 

X 

  

X 

Changes in accounting policy 

     

– 

 

– 

 

– 

  

(X) 

  

(X) 

Restated balance 

 

X 

 

X 

 

X 

 

X 

  

X 

Changes in equity for 20X2 

 

 

 

 

 

Dividends 

 

– 

 

– 

 

– 

 

 (X) 

 

 (X) 

Total comprehensive income for the year 

  

– 

– 

 

X 

 

X 

  

X 

Issue of share capital 

 

  

X 

 

X 

 

– 

 

– 

  

X 

Balance at 31.12.X2 

  

X 

 

X 

 

X 

 

X 

  

X 

Dividends paid during the year are not shown on the statement of profit or loss; they are shown in the 

statement of changes in equity. 

 EXAM FOCUS POINT 

In the January to June 2016 and July to December 2016 post-exam report, ACCA's examining team 

provided the following comments on producing the statement of profit or loss and other comprehensive 

income, which may help students to improve their performance: 

 

Carefully read through the information provided in the question and decide what should be 

included in the statement of profit and loss. Remember not everything given in a trial balance will 

be needed. 

 

Consider any notes provided and decide what adjustments or calculations are required eg 

prepayments or accruals. 

 

Exam questions typically require a depreciation figure to be calculated using a stated method. 

 

Always show your workings and reference them to the figures in the statement. 

 

Give the statement its correct title ie 'Statement of profit or loss and other comprehensive income 

for the year ended (date)'. 

 

Use the correct format for the statement ie IAS 1. Summarise expenses under distribution costs 

and administrative expenses. There is usually one mark available for the format/presentation of 

the statement. 

BPP Tutor Toolkit Copy

---