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Can i prepare income statement from statement of financial position

Forums › ACCA Forums › ACCA FR Financial Reporting Forums › Can i prepare income statement from statement of financial position

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  • April 3, 2020 at 1:57 pm #566428
    matran241091
    Member
    • Topics: 8
    • Replies: 25
    • ☆

    I have statement of financial position of 31 Dec 2019 and 31 Dec 2018.
    can i make income statement of 2019
    how i can calculate revenue

    April 3, 2020 at 4:52 pm #566439
    f6ali
    Member
    • Topics: 10
    • Replies: 342
    • ☆☆☆

    The answer is no.

    You can prepare a Statement of Changes in Equity or Cash Flow Statement using SOFP but not SOPL.

    Besides, you are not gonna be asked such requirement in Financial Reporting exam so no need to worry.

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