Statement of Comprehensive Income Flashcards
1
Q
What is Comprehensive income?
A
The change is Net income and OCI ( nonowner transactions)
The change in equity (net assets) of a business entity during a period, from transactions and other events from nonowner sources.
2
Q
How are income tax expense or benefit allotted to OCI reported?
A
The amount of income tax expense or benefit to each component of OCI is displayed in the either on the face of the statement in which they are displayed on in the notes to the financial statements.
