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While it is arrived at through the income statement the net profit is also used in both the balance sheet and the cash flow statement.
How to prepare the statement of comprehensive income. But don t depend solely on it. This video explains how to use financial information to complete a statement of comprehensive income. The statement of comprehensive income reflects both the realized and unrealized income of a company. This is a task you may need to complete in your exam.
Statement of comprehensive income. A statement of comprehensive income contains two main things. A statement of comprehensive income is the overall income statement that consolidates standard income statement which gives details about the repetitive operations of the company and other comprehensive income which gives details about the non operational transactions such as the sale of assets patents etc. A standard ci statement is usually attached to the bottom of the income statement and includes a separate heading.
A statement of comprehensive income that begins with profit or loss bottom line of the income statement and displays the items of other comprehensive income for the reporting period ias 1 p 81 so the statement of comprehensive income aggregates income statement profit and loss statement and other comprehensive income which isn t reflected. Introduction to income statement statement of comprehensive income statement of comprehensive income is one of the important financial statements in a complete set of final accounts of the entity. Whenever ci is listed on the balance sheet the statement of comprehensive income must be included in the general purpose financial statements to give external users details about how ci is computed.
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