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

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Practical tip 04/04/2012 by Assurance services
Practical tip: Disclosing total comprehensive income in condensed consolidating financial information and parent company-only financial information (Revised May 3, 2012*) (No. 2012-01)

At a glance

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.

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.