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One step at a time, Dashane. Keep breathing in and out, create calm and pleasant conditions in your location of study, and just go through it. Easy for me to say. ;-) Wishing you lots of success.
Hello Conor! No. The statement of comprehensive income is like an "extension" of the income statement. Assets and liabilities are on the balance sheet.
I assume you are referring to the 3M balance sheet example near the end of the video? Accumulated other comprehensive income or loss in the equity section of the balance sheet relates to the cumulative OCI that went through the income statement through the years.
I think it would be interesting to have a video about the financial statements of banks. This matter isn't spoken about on educational platforms or other videos and is kind of peculiar because their structure (deriving from how a bank operates) is different from that of a typical company, you don't really have current and long term assets/liabilities and there are many other peculiarities
Hi Derick! If you watch the video closely, you will find the answer.... Net Income plus or minus Other Comprehensive Income (OCI) equals Comprehensive Income. Net Income represents earned income and incurred expenses. Other Comprehensive Income represents unrealized gains and losses that have an effect on balance sheet amounts including the equity account, but bypass the income statement.
@@derickdevera3611 Interest income and expense is included in net income. It's near the bottom of the income statement, between Operating Income and Net Income. Unless the company is a bank or financial institution, then I guess that interest income and interest expense is part of total net revenue.
Enjoyed this video? Then subscribe to the channel right now, and watch the related video on the statement of changes in equity next: th-cam.com/video/x3bjr3JPedE/w-d-xo.html
Dear God I don't know how I'm gonna learn this in one nght
One step at a time, Dashane. Keep breathing in and out, create calm and pleasant conditions in your location of study, and just go through it. Easy for me to say. ;-) Wishing you lots of success.
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my exam is tomorrow thanks to this and all other of your video i learn a lot
Welp goodluck to me tomorrow wish i could past the exam
Good morning! You got this! Wishing you lots of success.
Thanks...it helps me alot to understand the concept
Great to hear that! Thank you for watching and commenting. Please subscribe and spread the word!
Brilliant videos
Thank you! :-) Did you watch the related video on the statement of changes in equity as well: th-cam.com/video/x3bjr3JPedE/w-d-xo.html
Please make one video of fixed assets register.
Thanks for the suggestion, Vikash! I will research the topic, and see if I have something valuable to say about it....
Does a comprehensive income include liabilities or assets
Hello Conor! No. The statement of comprehensive income is like an "extension" of the income statement. Assets and liabilities are on the balance sheet.
Thank you very much 😍
Happy to help, Ali!
What’s the 8K accumulated oci made outnof
I assume you are referring to the 3M balance sheet example near the end of the video? Accumulated other comprehensive income or loss in the equity section of the balance sheet relates to the cumulative OCI that went through the income statement through the years.
I think it would be interesting to have a video about the financial statements of banks. This matter isn't spoken about on educational platforms or other videos and is kind of peculiar because their structure (deriving from how a bank operates) is different from that of a typical company, you don't really have current and long term assets/liabilities and there are many other peculiarities
Ciao Alessandro! Yes, it would be very interesting. I would have to dig deep into it, as I am currently not an expert on that.
Where are you from
Hi Elisha! I am from the Netherlands. How about you?
Is net income classified as other comprehensive income or is it included in net sales?
Hi Derick! If you watch the video closely, you will find the answer.... Net Income plus or minus Other Comprehensive Income (OCI) equals Comprehensive Income. Net Income represents earned income and incurred expenses. Other Comprehensive Income represents unrealized gains and losses that have an effect on balance sheet amounts including the equity account, but bypass the income statement.
@@TheFinanceStoryteller I'm sorry, interest income rather.. is it included in net sales of the company or classified as other comprehensive income?
What is the classification of interest income sir?
@@derickdevera3611 Interest income and expense is included in net income. It's near the bottom of the income statement, between Operating Income and Net Income. Unless the company is a bank or financial institution, then I guess that interest income and interest expense is part of total net revenue.
@@TheFinanceStoryteller what if the company is merchandising business?
merci le sang
De rien!
Nice ....
Thanks
Me too, how will I catch up
Shut down all distractions, and focus!
Thank you!
You're welcome, Mike! :-)
Can I send a paper for you to work?
Not sure what you are asking me here, but my contact details are in the "About" tab of my channel.
The Finance Storyteller I messaged you on Instagram
Bro you talk a lot
Yes, that's because I am a finance storyteller! ;-)
Thank you!
You're welcome! 😎