Comprehensive income Statement

angrobs

Helo Everyone,

Having a breakdown here, I have only just seen from these forums that there is a new section to the income statement, have emailed my tutor but not sure when she'll get back to me.

Can someone clarify if the comprehensive income section is simply there for information purposes? If not does it affect the figures you put in the balance sheet? And do you use this profit figure in the retained earnings?

Thanks in advance for your help, and best of luck with your exams.
Ang
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jewels.p

Hi Ang,

Dont panic (I was for a while) it doesnt affect the SOFP it is just a bit added on to the bottom of Income Statement where we include the Revaluation Reserve.