Under U.S. GAAP or IFRS, a company can report its comprehensive income or loss under present net income and comprehensive income in a single continuous performance statement or in a separate but consecutive financial statement.

Question

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Under both U.S. GAAP and IFRS, a company has the option to report its comprehensive income or loss in a single continuous performance statement that includes both net income and other comprehensive income, or in a separate but consecutive financial statement. The presentation option chosen by the company must be disclosed in the financial statements notes.

Under US GAAP or IFRS, a Company Can Report Its Comprehensive