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FAR 1 > 1.03 STATEMENT OF COMP INCOME > Flashcards

1.03 STATEMENT OF COMP INCOME Flashcards

1
Q

OCI includes

A
  1. deferred gains/losses on derivative cf hedges
  2. excess adjustments on defined benefit pension plans
  3. net unrealized holding gains/losses on AFS securities
  4. foreign currency translation gains/losses
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2
Q

Comprehensive Income

A

Net Income + OCI

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3
Q

Comp Income EXCLUDES

A

changes in equity resulting from transactions with shareholders

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4
Q

OCI items are reported

A

NET OF TAX

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FAR 1 (8 decks)

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