Statement of Comprehensive Income with Examples

[@todayisthebestdayofmylife]

One of the best for this topic!

[@newtonocharimenyenya2458]

A Very Great Piece.

[@minimalistaccounting8739]

Awesome to hear, thanks for watching!

[@sharathccxcvii]

What is the exact purpose of OCI ? What are the principles in place for differentiation an item between income statement and OCI ?

[@minimalistaccounting8739]

Hi Sharath - great question! The primary purpose is always to provide relevant information to financial statement users. Even though OCI doesn't change the overall earnings of the organization, including this information provides a more comprehensive financial status of the organization and ensures transparency and consistency for the benefit of F/S users.

[@shimblypibbins]

Hi, nice video. Does SOCI equal SOFP?

[@minimalistaccounting8739]

Hi - thanks for watching! SOFP (or Balance Sheet) is a different statement than SOCI as it represents the company's net worth and lists Assets, Liabilities and Equity. Check out kzbin.info/www/bejne/eIeUgZikg9-gipI for more in-depth info on the contents of SOFP.