Total Comprehensive Income Vs Revenue

Net income is the financial gain or loss that a business has made in one single time period while comprehensive income is the change in equity in that same time period originating in non owner sources.

Total comprehensive income vs revenue. No they are very different. And other comprehensive income oci. While revenue includes the gross earning from primary operations without any deductions profit is the resultant income after accounting for expenses expenditures taxes and additional income and costs in the revenue. Total revenue is the gross of all your revenue items e g.

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. What remains after expenses and taxes are subtracted from revenue revenue is the total amount of money the business receives from its customers for its products and services. For individuals however income generally refers to the total wages salaries tips rents interest or dividend received for a specific time period. Net income goes even further than net gross margin because you deduct all other expenses including overhead and taxes.

A standard income statement format has a line for the total revenue lines for various expense categories and a line for the net income total revenue minus total expenses. The formula for net income is simply total revenue minus total expenses. Comprehensive income is the sum of regular income and other comprehensive income. One of the most important financial statements is the income statement.

For a business income refers to net profit i e. A profit or loss which refers to. 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. A more complete view of a company s income and revenues is shown by comprehensive income.

Businesses incur expenses in the course of producing revenues. Total comprehensive income refers to. Sales services revenue etc. Comprehensive income in financial statements.

To make it a statement of comprehensive income you carry down the total standard net income show any gains or losses from other comprehensive income and end with a total of the standard net income plus the total other comprehensive income. A statement of comprehensive income contains two main things.