Advantages and Disadvantages of Reporting Items in Other comprehensive income instead of on the face of the income statement

Q: Define Total comprehensive income

A: Comprehensive income includes both net income and unrealized income or losses on financial…

Q: Please explain the meaning of differential income.

A: Concept of differential is generally used when there are two or more alternatives to choose upon.…

Q: what is a condensed income statement

A: Definition: Financial statements: Financial statements are condensed summary of transactions…

Q: Discuss the components of operating and nonoperating income and theirrelationship to earnings…

A: Meaning of Operating Income Operating Income is also known as Earnings before interest and taxes. It…

Q: Explain the difference between net income and comprehensive income and howwe report components of…

A: Financial statement: Financial statement is a record of all the financial activities of the…

Q: Explain the components of non operating income.

A: Non Operating Income is that part of an organisation's income that is obtained from activities not…

Q: Explain how to report other comprehensive income.

A:

Q: What is the difference between income statement and statement of comprehensive income?

A: GAAP stands for “Generally Accepted Accounting Principles”. It provides the accounting rules and…

Q: what items are included in an income summary repor?

A: An income summary account is prepared at the end of accounting period to which all the incomes and…

Q: How did you come up the number for Income before income tax, why did you subtract the quipment cost.

A: Income before tax=Tax expenseTax rate-Depreciation expense

Q: Management does not usually like to tie comprehensive income closely with the income statement.…

A: Comprehensive income offers a more thorough evaluation of a company's financial performance than net…

Q: What items are not presented on the income statement?

A: Income statement:The financial statement which reports revenues and expenses from business…

Q: How do gross profits, operating income, and net income differ

A: In finance when making or analyzing an income statement we look into different types of income or…

Q: What is the difference of net income and gross income?

A: The answer is provided as follows:

Q: How does EVA differ from accounting net income?

A: Economic Value Added and accounting net income are the methods of businesses that can be used to…