Share this content
2

Compensation received for loss of income & damages

compensation

Didn't find your answer?

Search AccountingWEB

Anyone know the guidance under FRS102 for compensation payments which are part income and part damages. Assuming the loss of income will be considered trading and go through the P&L but is it documented as turnover in the P&L and Turnover note or a separate category? Likewise for the reputaional damages, these are a non trading item so expect these to go through SOCI?

Replies (2)

Please login or register to join the discussion.

avatar
By johnt27
11th Sep 2019 13:32

Both other income

Thanks (1)
Replying to johnt27:
avatar
By Tickers
17th Sep 2019 17:09

Other income via the P&L or SOCI?

Thanks (0)
Share this content