Statement of comprehensive income
In one sentenceA statement that starts with net profit or loss and then adds other comprehensive income items, arriving at total comprehensive income for the period.
Simply put
Some gains and losses do not go into net profit under the standards, such as a land revaluation surplus. These items are shown in other comprehensive income, and then everything is added up in comprehensive income.
It can be presented as one statement continuing from the income statement, or as two separate statements. In most small businesses comprehensive income equals net profit because they have no other items.
Worked example
A company made a net profit of 300,000 SAR, and revalued land it owns, whose value rose by 50,000 SAR.
Net profit300,000
+ Other comprehensive income (revaluation surplus)50,000
Total comprehensive income = 300,000 + 50,000350,000 SAR
Don't confuse it with
Income statementThe income statement ends with net profit, and comprehensive income continues after it with items that do not pass through profit.