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Dear Tutor,
I have been solving paper Dec 2009 Q2 and compared your lecture to examiner’s answer. For some reason you have missed out a breakdown of comprehensive income in your lecture. And then I have checked other year’s questions and sometimes the figures, for example, the gain on available for sale investment is in comprehensive income, but sometimes in IS itself. When it should be done as I am now confused? Thank you.I think the problem is in exactly what Steve Scott asks for. If he asks for a Statement of Income, he may ( or may not ! ) be expecting a Statement of Comprehensive Income. It depends on what he asks for.
In practice, it is available to prepare a separate Statement of Income followed by a Stattement of Comprehensive Income. As an alternative, it is available to prepare a single combined Statement of Comprehensive Income
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