Statement Of Other Comprehensive Income Flashcards
For profit companies report other comprehensive income as
A separate statement of comprehensive income
Combined income statement (net income and comprehensive income)
The components of other comprehensive income are
Net income
Plus/minus other comprehensive income
1. Pension liability adjustment
2. Unrealized gain or loss on afs investments
3. Foreign currency translation adjustment and Gain/loss related hedges
4. Effective portion of cash flow hedges
Unrealized loss on investments in non current equity securities would cause
Earnings to differ from comprehensive income
Avail for sale securities are the only securities that can be classified as
Non current
Comprehensive income purpose is to
Summarize all changes in equity from non owner sources
Comprehensive income consist of
Net income plus other comprehensive income
Extraordinary items is not included as
Other comprehensive income
The item reported below income from continuing operations in the income statement is
Other comprehensive income
Sales - cost of goods sold - expenses gives u
Net income
The average issue price is the sum of the par value and additional
Paid in capital
