Difference between income statement & statement of comprehensive income?

Question

What is the difference between income statement & statement of comprehensive income under IFRS? Are both statements compulsory? what are the components going to these statements?

Answer 1

As per IAS 1, an entity can present a Statement of comprehensive income or two separate statements comprising an Income statement displaying components of profit or loss and a Statement of comprehensive income that begins with profit or loss (bottom line of the income statement) and displays the items of other comprehensive income for the reporting period.