U.S. GAAP Codification of Accounting Standards

U.S. GAAP Codification Accounting Standards, ASC



U.S. GAAP Codification of Accounting Standards
Codification Topic 2
20: Comprehensive Income


U.S. GAAP Codification Updates
Principles of Accounting Intermediate Accounting Advanced Accounting
Accounting Terms


Codification Topic 220
Comprehensive Income



Comprehensive Income

SFAS 130, June 1997
"Reporting Comprehensive Income"

Total change in equity = (A) + (B)
(A) Comprehensive Income
(B) Changes in equity due to (B1) and (B2)
(B1) Investments by owners
(B2) Distributions to owners

Comprehensive income = (1) + (2)
(1) Net income
(2) Other comprehensive income (OCI)

Reporting other comprehensive income (OCI)
Three formats
Format 1: Reported in the income statement below net income
Format 2: Reported in the separate statement of comprehensive income
Format 3: Reported in the statement of changes in equity

Format 1 or Format 2 is encouraged
Format 1 or Format 2 is "superior" to Format 3


Items reported as other comprehensive income (OCI)

A. Investments in debt and equity securities
1. Unrealized holding gains and losses 
--> on "available for sale" securities

2. Unrealized holding gains and losses
--> due to the transfer from (a) to (b)
(a) held-to-maturity securities
(b) available-for-sale securities

3. The portion of impairment not recognized in earnings
--> for (c) and (d)
(c) available-for-sale debt securities
(d) held-to-maturity debt securities

4. Subsequent increases and decreases 
--> in the fair value of available-for-sale securities
--> previously impaired


B. Hedges
5. Gains and losses from the effective portion of cash flow hedges

6. Gains and losses on the hedges of a net investment in foreign operations


C. Pension and other postretirement benefits
7. The portion of gains or losses 
--> that is not recognized in net periodic pension cost
--> "corridor approach"

8. Prior service costs or credits in pension

9. Transition assets or obligations in pension
--> not recognized in net periodic pension cost


D. Foreign currency transactions
10. Foreign currency translation adjustments

11. Gains and losses on intra-entity foreign currency transactions




   Codification Topic 220
   Comprehensive Income
 
Subtopics of Codification Topic 220
 
   220-10 Overall   
 
Accounting Terms of Codification Topic 220-10
 
   Available-for-sale-securities
   Comprehensive income
   Net income
   Noncontrolling interest
   Other comprehensive income
   Parent
   Reclassification adjustments
   Subsidiary


   Other Topics at the Codification 200 
Accounting Standards Codification, ASC, Overview
 
ASC Codification Topic 205: Presentation of Financial Statements
 
ASC Codification Topic 210: Balance Sheet
ASC Codification Topic 215: Statement of Shareholder Equity
 
ASC Codification Topic 220: Comprehensive Income
ASC Codification Topic 225: Income Statement
 
ASC Codification Topic 230: Statement of Cash Flows
ASC Codification Topic 235: Notes to Financial Statements
 
ASC Codification Topic 250: Accounting Changes and Error Corrections
ASC Codification Topic 255: Changing Prices
 
ASC Codification Topic 260: Earnings per Share
 
ASC Codification Topic 270: Interim Reporting
ASC Codification Topic 272: Limited Liability Entities
ASC Codification Topic 274: Personal Financial Statements
ASC Codification Topic 275: Risks and Uncertainties
 
ASC Codification Topic 280: Segment Reporting


   U.S. GAAP Codification of Accounting Standards
Accounting Standards Codification, ASC, Overview
ASC Codification 200: Presentation
ASC Codification 300: Assets
ASC Codification 400: Liabilities
ASC Codification 500: Equity
ASC Codification 600: Revenue
ASC Codification 700: Expenses
ASC Codification 800: Broad Transactions
ASC Codification 900: Industry

U.S. GAAP by Topic
Accounting Topics


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