Question:
Define comprehensive income. What are the two ways companies can present comprehensive income?
Answer:
Comprehensive income is the total change in equity for a reporting period other than from transactions
with owners. Reporting comprehensive income can be accomplished with a continuous statement of
comprehensive income that includes an income statement and other comprehensive income items or in
two statements, an income statement and a separate statement of comprehensive income.
Define comprehensive income. What are the two ways companies can present comprehensive income?
Answer:
Comprehensive income is the total change in equity for a reporting period other than from transactions
with owners. Reporting comprehensive income can be accomplished with a continuous statement of
comprehensive income that includes an income statement and other comprehensive income items or in
two statements, an income statement and a separate statement of comprehensive income.
