krisbulabreilP krisbulabreilP
  • 08-11-2016
  • Business
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Under ifrs, do the definitions of revenues and expenses include gains and losses? explain.

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pkmnmushy
pkmnmushy pkmnmushy
  • 15-11-2016
Gains and losses are not included as part of revenue or expenses because they do not contitute in operating activities. Lets remember that IFRS describes revenues as the gross inflow of economic benefits arising from the ordinary operating activities. 
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