Which of the following is an acceptable way of reporting a company's comprehensive income?
A) on the face of the income statement
B) in a separate, consecutive, statement of comprehensive income
C) in the statement of changes in shareholders' equity
D) both a and b are acceptable

Question

Quizplus · Accepted Answer

Comprehensive income can be reported in two ways - on the face of the income statement or in a separate, consecutive statement of comprehensive income. Both options are acceptable as per the International Financial Reporting Standards (IFRS). Additionally, some companies may also choose to report comprehensive income in the statement of changes in shareholders' equity.

Which of the Following Is an Acceptable Way of Reporting