What is the difference between income, revenue, and gain? These accounting terms are usually presented and seen in the income statement. They may have similarities, but they are actually different from each other. Financial statements preparers, accountants, and other accounting … [Read more...]
What is a Cash Flow Statement in Business?
What is a cash flow statement and what is it for? The statement of cash flow, together with the balance sheet (statement of financial position), statement of comprehensive income (income statement), statement of changes in equity, and accompanying explanatory notes to financial … [Read more...]
What is a Statement Comprehensive Income?
What is a statement of comprehensive income? The statement of comprehensive income is one of the components of a complete set of financial statements, along with the statement of financial position (balance sheet), statement of cash flows, statement of changes in equity, and … [Read more...]