On the other hand, there are some similar statements between comprehensive income and financial position. For example, they are need prapare a comprehensive income for the end of years. In the process of financial record, revenue, cost of sales and gross profit are must be caculate both of them. It is illustrates the income situation of company. The usual expenses are calculated such as salaries, rent and rates, insurance. Whole of table of comprehensive income and financial position have same step in calculate the profit for the period. Thus, income statement is part of statement of financial position.
Generally, analyse the differences of the statement of comprehensive income and the statement of financial position is necessary. The purpose of the statement of comprehensive income is illustrate that entity's financial performance (profitability) in the accounting period (usually for one year), no matter when cash is received or paid. It is depend on accrual accounting and the formula is profit or loss for the period equal to income minus expenses. Hence, when we wan to invest one company this calculation method is clear shows the income situation of the company and unrealized profit or loss. But the statement of financial position has different purpose that is sum up the total assets, equity and liabilities on the last day during the period of times, and the statement of