a. Revenue is the income generated from normal business operations. What is the business operation of Emirates (i.e. what do they do? Do they provide services or sell products? What is the service they provide or product they sell in order to generate revenues?b. . Did Emirates make profit in 2018 and 2017? Was there an increase or decrease? Justify your answers by providing the figures from the statementc. Explain the Difference between Revenue and Other operating income - Provide one item that can be listed under Revenue and one item that can be listed under Other operating income of Emirates. You can refer to the corresponding Notes to the Financial Statements of Emirates. Consolidated Income Statementfor the year ended 31 March 2018Note20182017AED mAED mRevenue591,22583,832Other operating income6.1,0971,251Operating costs7(88,236)(82,648)Operating profit4,0862,435Finance income8375281Finance costs8(1,593)(1,383)Share of results of investments accounted for using the equity method13155157Profit before income tax3,0231,490Income tax expense(44)(40)Profit for the year2,9791,450Profit attributable to non-controlling interests183200Profit attributable to Emirates' Owner2,7961,250Consolidated Statement of Comprehensive Incomefor the year ended 31 March 2018Profit for the year2,9791,450Items that will not be reclassified to the consolidated income statementRemeasurement of retirement benefit obligations25(6)311Items that are or may be reclassified subsequently to the consolidated income statementCurrency translation differences191Cash flow hedges191551,038Other comprehensive income for the year1501,349Total comprehensive income for the year3,1292,799Total comprehensive income attributable to non-controlling interests183200Total comprehensive income attributable to Emirates' Owner2,9462,599

Revenues are the income generated by the entity from the primary business activities. When operating…

Answered: he statement c. Explain the Difference…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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a. Revenue is the income generated from normal business operations. What is the business operation of Emirates (i.e. what do they do? Do they provide services or sell products? What is the service they provide or product they sell in order to generate revenues?

b. . Did Emirates make profit in 2018 and 2017? Was there an increase or decrease? Justify your answers by providing the figures from the statement

c. Explain the Difference between Revenue and Other operating income - Provide one item that can be listed under Revenue and one item that can be listed under Other operating income of Emirates. You can refer to the corresponding Notes to the Financial Statements of Emirates.

Consolidated Income Statement
for the year ended 31 March 2018
Note
2018
2017
AED m
AED m
Revenue
5
91,225
83,832
Other operating income
6.
1,097
1,251
Operating costs
7
(88,236)
(82,648)
Operating profit
4,086
2,435
Finance income
8
375
281
Finance costs
8
(1,593)
(1,383)
Share of results of investments accounted for using the equity method
13
155
157
Profit before income tax
3,023
1,490
Income tax expense
(44)
(40)
Profit for the year
2,979
1,450
Profit attributable to non-controlling interests
183
200
Profit attributable to Emirates' Owner
2,796
1,250
Consolidated Statement of Comprehensive Income
for the year ended 31 March 2018
Profit for the year
2,979
1,450
Items that will not be reclassified to the consolidated income statement
Remeasurement of retirement benefit obligations
25
(6)
311
Items that are or may be reclassified subsequently to the consolidated income statement
Currency translation differences
19
1
Cash flow hedges
19
155
1,038
Other comprehensive income for the year
150
1,349
Total comprehensive income for the year
3,129
2,799
Total comprehensive income attributable to non-controlling interests
183
200
Total comprehensive income attributable to Emirates' Owner
2,946
2,599

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