Statement of Comprehensive Income

The Statement of Comprehensive Income is a financial statement that reports a company's revenues, expenses, gains, and losses for a specific period, typically a year or a quarter. It is also known as the income statement or profit and loss statement.

The statement of comprehensive income shows the company's net income or loss for the period, which is calculated by subtracting expenses from revenues. It also includes other comprehensive income (OCI), which represents gains and losses that are not included in net income, such as changes in the value of investments or foreign currency translation adjustments.

The statement of comprehensive income is an important financial statement as it provides investors and stakeholders with information about a company's profitability and financial performance. It is often used in conjunction with other financial statements, such as the balance sheet and cash flow statement, to provide a comprehensive view of a company's financial health.