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 similarities between GAAPs that include the requirement to disclose the comprehensive income statement separately in the annual report.
Continue reading →

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.
Continue reading →

Statement of Comprehensive Income Template is an example prepared under IFRS. You may have seen the statement before and it even may be required by your local GAAP, but I guess you are wondering what it is in the first place.
Continue reading →