Comprehensive Income


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Comprehensive Income

Comprehensive income is the change in equity of a business enterprise during a period from transactions and other events from non-owner sources. It includes all non-owner changes in equity (in contrast to net income which does not include some changes in equity). Financial Accounting Standards Board (FASB) issued the Statement of Financial Accounting Standards No. 130 (SFAS 130), Reporting Comprehensive Income. For fiscal years beginning after December 15, 1997, SFAS 130 requires the disclosure of both net income and a more 'comprehensive? measure of income which includes four items recorded as owners? equity under previous FASB pronouncements: adjustments to unrealized gains and losses on available-for-sale marketable securities (SFAS 115), foreign currency translation adjustments (SFAS 52), minimum required pension liability adjustments (SFAS 87), and changes in the market values of certain futures contracts qualifying as hedges (SFAS 80).

Comprehensive Income

The income of a company from any transaction that does not involve an owner's investment or distribution to an owner. For example, if a company exchanges two currencies for practical, rather than investment, purposes, any profit from the transaction may be considered comprehensive income. Comprehensive income contrasts with net income.
References in periodicals archive ?
Still, the FASB expressed as part of their objectives that the information obtained from the reporting of comprehensive income, along with other information in the financial statements and accompanying disclosures, would help investors, creditors, and other users in evaluating an enterprise's future cash flows.
The Financial Accounting Standards Board (FASB) has had a lot to say in the last few years with respect to comprehensive income.
8 million and increase financial income on the consolidated statement of comprehensive income by EUR 2.
says May net income fell 41 percent on a drop in total comprehensive income.
43 million taking the total comprehensive income for the period to R17.
2011-05, Comprehensive Income (Topic 220): Presentation of Comprehensive Income, which provides an entity that reports items of other comprehensive income with the option to present comprehensive income in either one or two consecutive financial statements:
But rather than reflect the most volatile benefit cost components (mainly gains and losses) in net income, those components would be recognized in other comprehensive income (OCI).
65 January 2010 Comprehensive income Profit and 7,557,815.
Comprehensive Income is defined by FASB in SFAC No.
These statements shift focus from net income to total comprehensive income, as all other comprehensive income items are now presented on the face of the statement.
Omission of the Display of Comprehensive Income in a Compilation

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