STATEMENT

OF
COMPREHENS
IVE INCOME
 INCOME
STATEMENT
-STATEMENT OF THE
COMPREHENSIVE INCOME also
known as the income statement.
-contains the result of the company’s
operations for a specific period of time,
which is called net income (net positive
result) or net loss.
-this can be prepared for a month, a
quarter or a year.
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 TEMPORARY
ACCOUNTS
-also known as the NOMINAL
ACCOUNTS found under the SCI.
-they are called such because of the end of
the accounting period, balances under
these accounts are transferred to the
capital account, thus having only
temporary amounts and resulting to zero
beginning balances at the beginning
following year
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 EXAMPLE OF
TEMPORARY
ACCOUNTS
-REVENUES
-SALES
-UTILITIES EXPENSE
-SUPPLIES EXPENSE
-SALARIES EXPENSE
-DEPRECIATION EXPENSE
-INTEREST EXPENSE
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SAMPLE SCI
LEARNING IS FUN COMPANY
Income Statement
For the year ended December 31. 2020

REVENUE:
Service Revenue Php 100,000

EXPENSES:
Salaries Expense Php 40,000
Rent Expense 20,000
Depreciation Expense 10,000
Utilities Expense 5,000
Miscellaneous Expense 1,000
Total Expenses 76,000
Net Income Php 24,000
 SCI FORMATS

SINGLE STEP
-all revenues are listed down in one
section while all expenses are listed
in one another. Net income is
computed using a single step which
is Total Revenues minus Total
Expenses .

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EXAMPLE OF SCI (SINGLE STEP)
LEARNING IS FUN COMPANY
Income Statement
For the Month Ended September 30, 2021
 SCI FORMATS
MULTI STEP
-called multi step because there are several
steps needed in order to arrive at the
company’s net income.
a. The two format will yield the same
amount of net income/loss.
b. Single-step SCI- service companies
Multi-step SCI- merchandising
companies

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EXAMPLE OF SCI (MULTI STEP)
LEARNING IS FUN COMPANY
Income Statement
For the Month Ended September 30, 2021
EXAMPLE OF SCI (MULTI STEP)
LEARNING IS FUN COMPANY
Schedule in Accompanying Income Statement
For the Month Ended September 30, 2021
BENEFITS OF USING MULTI STEP
INSTEAD OF SINGLE STEP
-the multi step income statement clearly states the
gross profit amount. Many readers of financial
statements monitor a company’s margin (gross profit as
a percentage of net sales). Readers may compare a
company’s gross margin to its past gross margins and
to the gross margins of the industry.
-the multi step income statement presents the subtotal
operating income, which indicates the profit earned
from the company’s primary activities of buying and
selling merchandise.
BENEFITS OF USING MULTI STEP
INSTEAD OF SINGLE STEP
-the bottom line of a a multi step income statement
reports the net amount for all the items on the income
statement. If the net amount is positive, it is labeled as
net income. If the net amount is negative, it is labeled
as net loss.
STATEMENT
OF CHANGES
IN OWNER’S
EQUITY
 CAPITAL
STATEMENT
-STATEMENT OF CHANGES IN
OWNER’S EQUITY also known as the
capital statement
-is a basic statement that shows the
movement in the elements or contents of
the capital.
-it shows how the Income Statement and
the Statement of Financial Position are
related.
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SAMPLE
SCE
LEARNING IS FUN COMPANY
Capital Statement
For the Month Ended September 30, 2021

E. Bonifacio, Capital , September 1, 2021 Php

200,000
Additional Investment 20,000
Net Income 60,000
Withdrawals (15,000)
E. Bonifacio, Capital , September 30, 2021 Php
265,000