The first two lines of Unilever Group’s 2008 consolidated income statement (using IFRS) report the..

The first two lines of Unilever Group’s 2008 consolidated income statement (using IFRS) report the following amounts (in millions of euros): 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 in-comestatement?

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