Practical tip: Disclosing total comprehensive income in condensed consolidating financial information and parent company-only financial information (Revised May 3, 2012*) (No. 2012-01)

DOWNLOAD

Upon adoption of the FASB's new comprehensive income presentation requirements (ASUs 2011-05 and 2011-12), an entity should report a total for comprehensive income in condensed consolidating financial information and parent company-only financial information in a single continuous statement or in two separate, but consecutive, statements. This Practical tip further explains this guidance and includes examples to help you apply it in practice.

* This Practical tip has been updated to remove the reference to possible differences in transition dates for emerging growth companies (EGCs). As discussed in Dataline 2012-03, the transition accommodation provided to EGCs under the JOBS Act does not apply to financial accounting standards issued or modified prior to April 5, 2012.