The first two lines of Unilever Group's 2013 consolidated income statement (using IFRS) report the following amounts

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The first two lines of Unilever Group's 2013 consolidated income statement (using IFRS) report the following amounts (in millions of euros):
The first two lines of Unilever Group's 2013 consolidated income

Required:
A. On the income statement, the first two lines in Unilever's income statement are turnover and operating profit. What does the term turnover mean? Which costs are typically reported between turnover and operating profit?
B. How useful is Unilever's income statement presentation considering that this information about expenses is disclosed in footnote 3 rather than being reported on the face of the income statement?

Consolidated Income Statement
When talking about the group financial statements the consolidated financial statements include Consolidated Income Statement that a parent must prepare among other sets of consolidated financial statements. Consolidated Income statement that is...
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Advanced Accounting

ISBN: 978-1119119364

6th edition

Authors: Debra Jeter, Paul Chaney

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