FAR 1.7 - Statement If Comprehensive Incine Flashcards
1
Q
Comprehensive income includes all changes in equity during a period except for those resulting from:
A
Investments by owners and distributions to owners
2
Q
Net income + other comprehensive income =
A
Comprehensive income
3
Q
Net income includes:
A
Income from continuing operations
Discontinued operations
4
Q
Other comprehensive income includes:
A
Pension adjustments
Unrealized gains and losses on available for sale debt securities
Unrealized gains and losses from cash flow hedges
Foreign currency items
Instrument specific credit risk
5
Q
Accumulated OCI is a component of
A
Equity
