Statement of Comprehensive Income Flashcards
1
Q
Other Comprehensive Income
A
net change in owners’ equity for the period other than from transactions with owners
Net Income + OCI
2
Q
Components of Other Comprehensive Income
A
Unrealized gains and losses on debt securities available-for-sale
Unrecognized pension gains and losses
Foreign currency translation adjustments
Certain derivative gains and losses
3
Q
What type of account is accumulated other comprehensive income (AOCI)?
A
Owner’s equity
4
Q
Presentation of Comprehensive Income
A
Single statement of comprehensive income
Two statements
5
Q
Accumulated Other Comprehensive Income
A
the amount carried over from the previous period and then either increased or decreased during the current period.
