IDEAS home Printed from https://ideas.repec.org/a/taf/acceur/v7y2010i2p147-158.html
   My bibliography  Save this article

On the Definitions of Income, Expenses and Profit in IFRS

Author

Listed:
  • Richard Barker

Abstract

This paper makes two contributions. First, it demonstrates that income and expenses are incorrectly defined in the IASB's conceptual framework, and it proposes alternative definitions. Second, the paper identifies that, in part as a consequence of these incorrect definitions, and in part because there are two, conflicting concepts of profit in IFRS, there is, first, no definition of profit in the Framework and, second, inconsistency and needless complexity in the concept of profit in IAS 1. The issues raised in this paper contribute to the current IASB projects on the conceptual framework and on financial statement presentation.

Suggested Citation

  • Richard Barker, 2010. "On the Definitions of Income, Expenses and Profit in IFRS," Accounting in Europe, Taylor & Francis Journals, vol. 7(2), pages 147-158, December.
    • Handle: RePEc:taf:acceur:v:7:y:2010:i:2:p:147-158
    DOI: 10.1080/17449480.2010.511892
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/17449480.2010.511892
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/17449480.2010.511892?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Sophie Giordano-Spring & Isabelle Martinez & Olivier Vidal, 2013. "La perception des professionnels du chiffre sur le concept de performance et sa mesure," Post-Print hal-01002934, HAL.
    2. Müller, Julian, 2014. "An accounting revolution? The financialisation of standard setting," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 25(7), pages 539-557.
    3. Federica Doni & Silvia Rossetti & Roberto Verona, 2017. "Performance Reporting Choices after the Adoption of IAS 1 Revised: Comparative Evidence from Europe and the USA," International Journal of Economics and Financial Issues, Econjournals, vol. 7(4), pages 558-574.
    4. Catherine Grima, 2015. "Impact Des Normes Ifrs Sur Le Compte De Resultat Et Le Bilan Des Entreprises Françaises Cotees : Une Approche Par Les Doubles Differences," Post-Print hal-01188720, HAL.
    5. Orbán Ms. Tamás Dékán, Ildiko, 2013. "Reporting companies’ performance – in respect of the International Financial Reporting Standards (IFRS)," APSTRACT: Applied Studies in Agribusiness and Commerce, AGRIMBA, vol. 7(4-5), pages 1-6.
    6. Kateřina Knorová, 2016. "Do Czech Companies Disclose Revenue in Accordance with IFRS Requirements?," European Financial and Accounting Journal, Prague University of Economics and Business, vol. 2016(3), pages 69-84.
    7. Alexandre Rambaud & Jacques Richard, 2015. "Towards a finance that CARES," Post-Print halshs-01260075, HAL.
    8. Carien van Mourik & Yuko Katsuo Asami, 2018. "Articulation, Profit or Loss and OCI in the IASB Conceptual Framework: Different Shades of Clean (or Dirty) Surplus," Accounting in Europe, Taylor & Francis Journals, vol. 15(2), pages 167-192, May.
    9. Adil Laouane Laouane & Mohamed Torra, 2022. "The impact of the adoption of IFRS on turnover: a comparative analysis with the Moroccan accounting framework [L’impact de l’adoption des normes IFRS sur le chiffre d’affaires: une analyse comparat," Post-Print hal-03639461, HAL.
    10. Alexandre Rambaud & Jacques Richard, 2016. "The " Triple Depreciation Line " (TDL) accounting model and its application to the Human Capital," Working Papers hal-01260004, HAL.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:acceur:v:7:y:2010:i:2:p:147-158. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/RAIE20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.