Comprehensive Income

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DEFINITION of 'Comprehensive Income'

The change in a company's net assets from nonowner sources over a specified period of time. Comprehensive income is a statement of all income and expenses recognized during that period. The statement includes revenue, finance costs, tax expenses, discontinued operations, profit share and profit/loss.

BREAKING DOWN 'Comprehensive Income'

Companies typically report comprehensive income in a separate statement from income resulting from owner changes in equity, but have the option of providing information in a single statement. Many firms shy away from the single statement approach because it mixes owner and nonowner activity, which can muddle the underlying information.

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RELATED FAQS
  1. What is the difference between comprehensive income and gross income?

    Comprehensive income and gross income are similar, but comprehensive income is a specific term used on a company's financial ... Read Full Answer >>
  2. What are some examples of items that count as comprehensive income?

    In business accounting, other comprehensive income, or OCI, includes those revenues, expenses, gains and losses that have ... Read Full Answer >>
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    A growth stock turns into a value opportunity when it trades at a reasonable multiple of the company's earnings per share ... Read Full Answer >>
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    "Finance" is a broad term that describes two related activities: the study of how money is managed and the actual process ... Read Full Answer >>
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