What is comprehensive income?
Unrealized gains and losses on securities available for sale, unrecognized pension gains and losses, foreign currency translation adjustments, certain derivative gains and losses.
Net income plus or minus unrealized gains and losses on securities available for sale, unrealized pension cost, certain unrealized gains and losses on derivatives, and foreign currency translation adjustments.
What are the three ways of reporting comprehensive income?
Separate income statement, as part of the income statement, or in the statement of shareholders' equity.
1) Single statement of net income and comprehensive income or 2) two separate statements: a statement of net income and a statement of comprehensives income.
What is the main purpose of disclosing comprehensive income?
To report the net change in equity in a single amount.
Owner's equity.
Does IFRS (International Financial Reporting Standards) allow revaluation of plant assets and intangibles to fair value as a other comprehensive income item?
Yes, it is allowed.
When OCI item from previous year is removed from AOCI.
What is net income plus or minus other components of comprehensive income?
Comprehensive income.
What is an OCI reclassification adjustment?
What type of account is AOCI?
