Comprehensive income can be displayed to users of financial statements in which of the following way(s):

Question

Quizplus · Accepted Answer

Comprehensive income can be displayed to users of financial statements as a single income statement that includes both the components of profit and the components of other comprehensive income or as a second income statement. This allows users to see the full picture of the company's financial performance, including items that may not be reflected in the traditional profit and loss statement. The other options - displaying it as an item on the balance sheet, in the notes accompanying the financial statements, or as an element in the changes in shareholders' equity displayed as a column in the statement of shareholders' equity - may provide some information on comprehensive income, but do not display it in its entirety.

Comprehensive Income Can Be Displayed to Users of Financial Statements