Can i prepare income statement from statement of financial position

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April 3, 2020 at 1:57 pm #566428
matran241091
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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
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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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