2. Statement of comprehensive income
Comprehensive income is the change in equity (net assets) of a business enterprise during a period from transactions and other events and circumstances from non-owner sources. The statement of comprehensive income illustrates the financial performance and results of operations of a particular company or entity for a period of time.According to International Financial Reporting Standards since 1 January 2009 an entities make:
• a Statement of comprehensive income (see the table below) or
• two separate statements comprising:
• an Income statement displaying components of profit or loss and
• a Statement of comprehensive income that begins with profit or loss (bottom line of the income statement) and displays the items of other comprehensive income for the reporting period