What is the difference between net income and comprehensive income?
The difference between net income and comprehensive income is known as other comprehensive income.
Other comprehensive income includes unrealized gains and losses on certain investments in securities, foreign currency items, and certain pension liability adjustments.
Net income is reported on the income statement and is included in the retained earnings section of stockholders’ equity. Other comprehensive income items are not reported on the income statement, and are included in the accumulated other comprehensive income section of stockholders’ equity.
The accounting for comprehensive income is provided in the Statement of Financial Accounting Standards No. 130, Reporting Comprehensive Income, available for reading at www.FASB.org/st.
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i found the information every helpful.
contents are extremely relevant and helpful
Apparently, with the pending revision in FASB 157, the difference is about to become fantasy (net income) vs. reality (comprehensive income).
Allowing corporations to market their assets to just about any value they want is a gross disservice to their shareholders, lenders, and other potential investors.
how do i calculate profit/lossfor shares?
this is so helpful to me because i will report on class about statement of comprehensive income…. tnx
AM doing BCOMPT accounting first year ,and i will like u to assist me in any way.thx