Final answer:
The Statement of Comprehensive Income must disclose revenue, expenses including losses, profits or losses, and each component of Other Comprehensive Income classified by nature.
Step-by-step explanation:
The Statement of Comprehensive Income is a financial report that must disclose certain key components. According to International Financial Reporting Standards (IFRS), there are four main disclosures required:
- Revenue
- Expenses including losses
- Profits or losses
- Each component of Other Comprehensive Income classified by nature
It's essential that these elements are clearly presented in the statement to provide a complete view of the financial performance of the entity during the reporting period. The disclosure of these components helps stakeholders understand the company's operating results and other factors that affect its net worth that are not included in the traditional income statement.