Net Loss In Statement Of Comprehensive Income

The purpose of the statement of profit or loss and other comprehensive income oci is to show an entity s financial performance in a way that is useful to a wide range of users so that they may attempt to assess the future net cash inflows of an entity.
Net loss in statement of comprehensive income. The category of income known as other comprehensive income refers to types of income that are not part of the standard income statement because they have not been realized. Other comprehensive income is a catch all term for changes in equity from non owner sources including unrealized gains and losses on investments because of changing market prices on foreign exchange fluctuations and the like. The statement of profit or loss includes all realised gains and losses e g. It is rather different from the typical income statement that consists of the profits and losses but may exclude some changes in net assets due to the transfer of holdings change of ownership or other factors.
Statement of comprehensive income refers to the statement which contains the details of the revenue income expenses or loss of the company that is not realized when a company prepares the financial statements of the accounting period and the same is presented after net income on the company s income statement. Comprehensive income is equal to net income plus other comprehensive income. Net profit for the year the statement of comprehensive income would include both the realised and unrealised gains and losses e g. A statement of comprehensive income is known as a financial report that lays out the change in a company s net assets during a specific time.
Other comprehensive income consists of gains or losses in the value of assets being held by the company. The net income net income net income is a key line item not only in the income statement but in all three core financial statements.