Comprehensive Income Flashcards
1
Q
Comprehensive Income is comprised of:
A
Net Income + Other Comprehensive Income
2
Q
What is the purpose of reporting Comprehensive Income?
A
To summarize all changes in equity from nonowner sources
3
Q
What makes up OCI?
A
Unrealized G/L on AFS securities
Unrealized G/L on pension costs
Foreign currency translation adjustments
Unrealized G/L on certain derivative transactions
