Could anyone please advise which UK accounting standard deals with Classification & Presentation of Fianancial statement.
My client has shown rent from a property as rental income under the head of Other income though it is his main business to rent the property. Now my understanding is that it should be classified as Turnover but i need to clarify it and would appreciate that if anybody can please advise which UK accounting standard deals with this issue.
I would appreciate for your kind comments.
Thanks