The Statement Of Comprehensive Income Is Compiled For The Year Ended Because

Limitations of a statement of comprehensive income.

The statement of comprehensive income is compiled for the year ended because. Although the income statement is a go to document for assessing the financial health of a company it falls short in a few aspects. 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. Revalued its properties up by 20 000 but incurred an unrealized loss of 10 000 on available for sale securities earned a net income of 50 000 and paid dividends of 25 000. But don t depend solely on it.

If a company does not have any item that meets the criteria of other comprehensive income the statement of comprehensive income is not required for a company with an item that is considered to be other comprehensive income the statement of. Statement of comprehensive income for the year ended december 31 2011 net from bcb 3131 at kazakhstan institute of management economics and strategic research. The totals from each of the above sections are summed and are presented as comprehensive income. During the year the company issued share capital with face value of 20 000 leading to 10 000 of additional capital.

The income statement encompasses both the current revenues resulting from sales and the accounts receivables which the firm is yet to be paid. 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.