The Financial Accounting Standards Board has deferred some of the rules it issued earlier this year to make the presentation of other comprehensive income more prominent on financial statements. FASB ...

FASB on Friday released an update that defers a portion of new accounting requirements for comprehensive income issued earlier this year. The update defers the requirement to present items that are ...

The Financial Accounting Standards Board has released an updated accounting standard for reporting amounts reclassified out of accumulated other comprehensive income. Accounting Standards Update No.

Accumulated other comprehensive income (AOCI) accumulates other comprehensive income (OCI), which records unrealized and realized gains and losses from certain transactions. Unrealized means paper ...

In an effort to simplify its Accounting Standards Codification, FASB has combined its guidance for income statements and comprehensive income into one topic. Previously, FASB’s guidance on these ...

Discover the differences, advantages, and drawbacks of single-step vs. multiple-step income statements for better financial analysis.

A financial document generated monthly and/or annually that reports the earnings of a company by stating all relevant revenues (or gross income) and expenses in order to calculate net income. Also ...

An income statement presents the results of a company’s operations for a given period—a quarter, a year, etc. The income statement presents a summary of the revenues, gains, expenses, losses, and net ...