Statement of Comprehensive Income

A statement of comprehensive income is the overall income statement that consolidates

standard income statement, which gives details about the repetitive operations of the
Preparing the income statement
company, and other comprehensive income. 
sheds light on a company’s financial events.

Ang single statement ay pinagsama ng Income Statement at Other

Comprehensive
Statement of Changes in Equity
Ang statement of changes in equity ay nagaillustrates ng adjustments in the total partners'
capital accounts during an accounting period. It illustrates increases and decreases within the
accounts over the financial period. Ipinapakita rin nito yung updated ending balance o yung
share ng capital ng owners

So sa paggawa daw ng statement of changes in equity sa partnership, it must include the following
information:

a. total comprehensive income for the period showing separately the total amounts attributable to
owners of the parent and to minority interests;
b. The effect of changes in accounting policies (the effect of retrospective, or past, changes) Since
the change affects past income, kailangan dapat iaddress yung change with regards to the
past situations and disclose its impact on the statement of changes in equity. because sabe
tinitingnan daw ito ng potential investor to make an informed decision
c. the amounts of transactions with owners in their capacity as owners, showing separately
contributions by and distributions to owners; and
d. for each component of equity, a reconciliation between the carrying amount at the beginning
and the end of the period, separately disclosing each change.

The components of equity referred to above include for example, each class of contributed equity, the
accumulated balance of each class of other comprehensive income and retained earnings (these are
applicable to corporations). The amount of dividends recognized as distributions to owners during the
period, and the related amount per share, shall be presented either in the statement of changes in
equity or in the notes.

The number of capital and drawing accounts has made the preparationtion of this statement more
relevant in the case of Biore and Besario, as opposed to a sole proprietorship. The increase or decrease
in an entity's net assets between the beginning and ending of a reporting period is reflected in changes
in equity.

Statement of Financial Position

So kaya sinabi na madalai na ang paggawa ng financial position dahil yung statement of comprehensive
income , changes of owner’s equity, yung mga assets and liabilities, ay napresent na. Di bap ag
gumagawa tayo ng worksheet ito yung pinakahuli natin ginagawa at ito na rin yung pinakamadali kase
wala na tayong inaayos pa copy lang ng copy ng info from the prior financial statements.

The statement of financial position is another term for the balance sheet. The statement lists the
assets, liabilities, and equity of an organization as of the report date. As such, it provides a
snapshot of the financial condition of a business as of a specific date. It is one of the financial
statements, and so is commonly presented alongside the income statement and statement of cash
flows
The assets and liabilities will be presented in the statement of financial position as those of a sole
proprietorship but the owners' equity section should exhibit separately the capital balance of P590,000
and P840,000 for Biore and Besario, respectively.

Dito rin sa financial position kailangan maclassify mo siya into current or non current. Kapag current
assets, ito dapat ay convertible into cash witin a period of one year. Kapag more than one year yung
liquidation or matagl mo pa magagamit siya or indi siya consumable siya ay non-current assets. Sa
liability naman masasabi natin na current siya kpag yung maturity niya ay within or less than a year.
Kapag matagal naman or long term ang pagkakautang ito ay non current liabilities.