Definition of "Objective of as 5"
The objective of this Statement is:
1) To prescribe the classification and disclosure of certain items in the statement of profit and loss so that all enterprises prepare and present such a statement on a uniform basis
2) Accordingly, this Statement requires the classification and disclosure of extraordinary and prior period items, and the disclosure of certain items within profit or loss from ordinary activities.
3) To specify the accounting treatment for changes in accounting estimates and the disclosures to be made in the financial statements regarding changes in accounting policies