U.S. GAAP Codification of Accounting Standards

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U.S. GAAP Accounting Standards
Codification Topic 220: Comprehensive Income


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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


International Financial Reporting Standards (IFRS)

   IAS 1: Presentation of Financial Statements


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   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

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