Now That You Have Read That The Brief Introduction Of Statement Of Com…
now that you have read that the brief introduction of statement of comprehensive income it is your turn to prepare the graphic organizer write what is your own understanding or definition of the two elements of statement of comprehensive income what is the normal balance of those accounts and then give the example on both elements
Answer:
What is the Statement of Comprehensive Income?
The statement of comprehensive income is a financial statement that summarizes both standard net income and other comprehensive income (OCI). The net income is the result obtained by preparing an income statement. Whereas, other comprehensive income consists of all unrealized gains and losses on assets that are not reflected in the income statement. It is a more robust document that often is used by large corporations with investments in multiple countries.
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