Comprehensive Income

COmprehensice Income Non-owner transactions (PUFER)- Pension Adjustments- Unrealized gains/losses(available for sale securities)- Foreign currency itemsEffective Portion cash flow hedges- Revaluation surplus (IFRS only)

changes in equity(net assets) of a biz enterprise during a period from transactions and other events/circumstances from non owner sources.- includes all chanages in equity during a period- excludes changes related to investment/distributions by owners Net Income (per IS)+ Other comprehensive income comprehensive income

Step 1 - Net Income IS>RE>E(Equity) Includes the following Income from discontinued ops income from continuing ops extraordinary items Step 2 - Other Comprehensive Income PUFE R - "Direct to equity"revenues, expenses, gains & losses that are included in CI but excluded from NI under US GAAP/IFRS

Comprehensive income may be shown on the face of a combined "statement of income and comprehensive income" a separate section below net income, or: In a separate "statement of comprehensive income," or As a component of the "statement of changes of owners' equity" (U.S. GAAP only). The income tax expense or benefit allocated to components must be disclosed, either on the face of the statement or in notes to the statement.Accumulated other comprehensive income is a balance sheet account and is reported in the statement of financial position

IFRS