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When is a statement of other comprehensive income required.

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When is a statement of other comprehensive income required

   12.03.2020  9 Comments

Other Comprehensive Income - Intermediate Accounting - CPA Exam FAR - Chp 4 p 8
When is a statement of other comprehensive income required

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When is a statement of other comprehensive income required
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9 thoughts on “When is a statement of other comprehensive income required

  1. A company's statement of profit and loss , also known as its income statement , has its drawbacks.

  2. Other comprehensive income is those revenues, expenses, gains, and losses under both Generally Accepted Accounting Principles and International Financial Reporting Standards that are excluded from net income on the income statement.

  3. The performance of a company is reported in the statement of profit or loss and other comprehensive income.

  4. In business accounting, other comprehensive income OCI includes revenues, expenses, gains, and losses that have yet to be realized.

  5. Investors and creditors still want to know how these other items affect the equity accounts even if they are not included in the bottom line.

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