Income statement
Statement Purpose
This statement calculates aggregated group net accounting income or loss for the period. The aggregated group net accounting income or loss amount (before distributions) for the period is the starting point in the calculation of the taxable income for the period.
Explanation of Fields
The statement aggregates income and expense items from entities within the group and any adjustments at the group level.
Data Flow
Amounts in this statement are aggregated from
Income Statement – domestic
and Income Statement – foreign
. Any group adjustment can be manually adjusted, as required, through these workpapers.Signage
The signage settings are as follows:
- Income amounts are entered as positive amounts.
- Expense and loss amounts are entered as negative amounts.
- A net accounting income is positive.
- A net accounting loss is negative.