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Statement of Comprehensive Income Template – Currency translation differences

Statement of Comprehensive Income Template includes a line called “Currency translation differences”. Now, you may be asking what those currency translation differences are doing on the comprehensive income statement when they are already presented on the income statement. Note that such a classification and disclosure may differ depending on the GAAP; however, there are some […]

Statement of Comprehensive Income Template – Other Comprehensive Income

Statement of Comprehensive Income Template includes besides “Profit for the year” a section named “Other comprehensive income”. What exactly is this “Other comprehensive income” and why would a company require such a statement in the annual report? An abbreviation for this term is OCI, which you also may come across in relevant literature. (more…)