I am still trying to restate my income statement, which compared to others I have viewed so far, my income statement is quite lengthy. However, I am stuck in my own head, as to what to apply to operation and what to apply to financial.
My income statement, has some subheadings that consist of the word financial and is throwing me off.
The items following Operating income heading to the total financial heading i have marked all as financial, because the total financial includes all this items. Would you assume the same? And the section above that also has me stumped 😦
Can someone please take a look at my spreadsheet screenshot below, and let me know if you would agree?
Cherie Blogs 
Hi Cherie,
I hope your child’s tooth has popped through so you can get a well-earned break! It’s hard work, without adding uni into the mix.
I’ve had a look at the list above, I think that its a fair assessment to include all of the bottom items in financial, being included in the financial total. I made a similar assumption in mine. I am a bit unsure about the top 5 being classified to F, without reading the footnotes, I think I would lean more towards O for these items. The best advise I can give is to include your thought process around any unsure items in your Word document. I attended a PASS season a few weeks ago with Danielle, and she said not to spend too much time on the classification and any concerns you have, write about it. This way you can demonstrate to the marker your thought process around your decisions.
I hope this helps.
Louise
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Thanks so much for your reply Louise. I’ll definitely take that into consideration as i finish the assessment over the few days . I’ve noticed writing about the choices helps to cement the idea into my own mind.
Hope your assessment is coming along nicely 🙂
P.S only 1 molar left, then hopefully a break before the canines (insert stressed face here)
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Hi Cherie, i hope all is going well. Looking at your income statement, i agree with Louise. I would personally just include the bottom 5 into financial, with the rest in operating. Most people just have finance costs and finance income in the financial section. If the other 3 are included in your financial costs in the original statement, then i would go with them also. Other income and expenses would be operational. My only concern is that you have joint ventures and associates in both sections. Maria did mention in her video, they could be either, so maybe that is the case.
Good Luck
Kevin Bingham.
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