BC55 IAS 1 omits the requirement in the 1997 version to disclose the results of operating activities as a line item in the income statement. ‘Operating activities’ are not defined in IAS 1, and the Board decided not to require disclosure of an undefined item.
BC56 The Board recognises that an entity may elect to disclose the results of operating activities, or a similar line item, even though this term is not defined. In such cases, the Board notes that the entity should ensure that the amount disclosed is representative of activities that would normally be regarded as ‘operating’. In the Board’s view, it would be misleading and would impair the comparability of financial statements if items of an operating nature were excluded from the results of operating activities, even if that had been industry practice. For example, it would be inappropriate to exclude items clearly related to operations (such as inventory write‑downs and restructuring and relocation expenses) because
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