Definition of "Scope of as 5"
This Statement should be applied by an enterprise in
1) presenting profit or loss from ordinary activities,
2) extraordinary items and
3) prior period items
In the statement of profit and loss, in accounting for changes in accounting estimates, and in disclosure of changes in accounting policies.
This Statement deals with, among other matters, the disclosure of certain items of net profit or loss for the period. These disclosures are made in addition to any other disclosures required by other Accounting Standards.
This Statement does not deal with the tax implications of extraordinary items, prior period items, changes in accounting estimates, and changes in accounting policies for which appropriate adjustments will have to be made depending on the circumstances.