Get the free CondensedConsolidatedStatementsofComprehensiveIncome(Loss)

INTERSTATES SECURITIESANDEXCHANGECOMMISSION Washington, D.C.20549 FORM10Q QUARTERLYREPORTUNDERSECTION13OR15(d)OFTHESECURITIESEXCHANGEACTOF1934 ForthequarterlyperiodendedDecember31,2017 TRANSITIONREPORTPURSUANTTOSECTION13OR15(d)OFTHESECURITIESEXCHANGEACTOF1934

How to fill out condensedconsolidatedstatementsofcomprehensiveincomeloss

How to fill out condensedconsolidatedstatementsofcomprehensiveincomeloss

1. To fill out condensed consolidated statements of comprehensive income/loss, follow these steps:
2. Review the guidelines and requirements provided by the relevant accounting standards (e.g., GAAP, IFRS).
3. Start by preparing a heading for the statement that includes the company's name, the statement title ('Condensed Consolidated Statements of Comprehensive Income/Loss'), and the reporting period.
4. Include a summary of significant accounting policies used in the statement.
5. List the different revenue streams and sources of income for the reporting period.
6. Deduct any cost of goods sold or operating expenses directly associated with generating the revenue.
7. Indicate any non-operating or extraordinary income or expenses separately.
8. Calculate and present the income tax expense or benefit for the period.
9. Include any other comprehensive income or loss items, such as foreign currency translation adjustments, changes in fair value of financial instruments, etc.
10. Net the comprehensive income/loss with the income tax expense/benefit to arrive at the final comprehensive income/loss figure.
11. Clearly state the basic and diluted earnings per share (EPS) for the reporting period.
12. Provide appropriate disclosures and footnotes to ensure transparency and compliance with accounting standards.
13. Prepare supporting schedules and reconciliations, if necessary, to provide additional detail and clarity.
14. Review the completed statement, ensuring accuracy and consistency with other financial statements.
15. When ready, distribute the condensed consolidated statements of comprehensive income/loss to relevant stakeholders and file them with the appropriate regulatory bodies.

Who needs condensedconsolidatedstatementsofcomprehensiveincomeloss?

1. Condensed consolidated statements of comprehensive income/loss are typically needed by:
2. - Business entities required to comply with accounting standards and regulations (e.g., publicly traded companies).
3. - Investors and shareholders who want to assess the financial performance and profitability of a company.
4. - Creditors and lenders who evaluate the creditworthiness and financial health of a company.
5. - Analysts and financial professionals who perform financial analysis and forecasting.
6. - Regulatory bodies and government agencies responsible for monitoring and regulating financial reporting practices.
7. - Internal stakeholders such as management and board members who need financial information for decision-making and strategic planning.

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What is condensedconsolidatedstatementsofcomprehensiveincomeloss?

The condensed consolidated statement of comprehensive income (loss) is a financial statement that shows the financial performance of a company over a specific period, including the net income or loss and other comprehensive income items.

Who is required to file condensedconsolidatedstatementsofcomprehensiveincomeloss?

Publicly traded companies and other entities that are required to follow accounting standards typically need to file condensed consolidated statements of comprehensive income (loss) as part of their financial reporting obligations.

How to fill out condensedconsolidatedstatementsofcomprehensiveincomeloss?

Condensed consolidated statements of comprehensive income (loss) are typically prepared by compiling income and expense data for the reporting period, including revenues, expenses, gains, and losses. This information is then presented in a condensed format according to accounting standards and guidelines.

What is the purpose of condensedconsolidatedstatementsofcomprehensiveincomeloss?

The purpose of condensed consolidated statement of comprehensive income (loss) is to provide stakeholders with a summary of a company's financial performance, including both the net income or loss and other comprehensive income items, during a specific period.

What information must be reported on condensedconsolidatedstatementsofcomprehensiveincomeloss?

Condensed consolidated statements of comprehensive income (loss) typically include information such as revenues, expenses, gains, losses, net income or loss, and other comprehensive income items like foreign currency translation adjustments or unrealized gains and losses on investments.