Comprehensive income

  • Accounting guides
    Financial statement presentation - 2014 accounting and financial reporting guide

    10/30/14 | Assurance services

    The inaugural edition of our "Financial statement presentation" accounting and financial reporting guide addresses U.S. GAAP presentation and disclosure requirements of common balance sheet and income statement accounts.

  • Dataline
    Dataline: FASB issues guidance on the reporting of amounts reclassified from accumulated other comprehensive income

    2/21/13 | Assurance services

    The FASB issued Accounting Standards Update No. 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income, on February 5, 2013. The standard is effective for public entities for annual periods, and interim periods within those periods, beginning after December 15, 2012. Non-public companies will adopt the standard one year later, but would be exempt from certain interim disclosure requirements.

  • Dataline
    Dataline: Disclosure of items reclassified from accumulated other comprehensive income -- FASB proposes new disclosures

    9/20/12 | Assurance services

    In August 2012, the FASB issued an exposure draft of a proposal requiring new footnote disclosures for reclassifications from accumulated other comprehensive income to net income. Among other things, an entity would be required to disclose, using a tabular format, the amount reclassified from each component of accumulated other comprehensive income and the income statement line items affected by the reclassification. An entity would not need to show the income statement line item affected for certain components such as net periodic pension cost. This Dataline looks at the key provisions of the proposal and offers our observations.

  • Point of view
    Point of view: Other comprehensive income -- A consistent approach would improve information for investors

    8/23/12 | Assurance services

    The FASB and IASB have a number of projects underway that could further expand or otherwise change what is reported within net income, and outside of net income within other comprehensive income. Existing accounting standards do not provide clear principles for when items should be excluded from net income and recognized in other comprehensive income. In this Point of view, we observe that we have heard many diverse views from investors, preparers, standard setters, and auditors on this topic. We believe that more consistency regarding the attributes of items initially excluded from net income would be beneficial for investors...

  • Dataline
    Dataline: Presentation of comprehensive income -- Applying the FASB's final standard on presenting comprehensive income after deferral of the reclassifications requirement

    1/19/12 | Assurance services

    The FASB issued a final standard in June 2011 requiring entities to present net income and other comprehensive income in either a single continuous statement or in two separate, but consecutive, statements of net income and other comprehensive income. In response to concerns from some preparers, the FASB issued an amendment in December 2011 to indefinitely defer one of the requirements contained in its June 2011 final standard. That requirement called for reclassification adjustments from accumulated other comprehensive income to be measured and presented by income statement line item in net income and also in other comprehensive income. In Dataline 2011-24 we discussed the final standard as originally issued. Now that the FASB has...