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Explanation: Comprehensive income is defined pursuant to the following sources:
AICPA Audit guide - Auditng Derivative Instrurments, Hedging Activities, and Investments in Securities / With Conforming Changes as of May 1, 2006 (Page 203/Glossary)
Definition:
The change in equity of a business enterprise during a period from transactions and other events and circumstances from nonowner sources. It includes all changes in equity duirng a period except those resulting from investments by owners and distributions to owners (FASB Concepts Statement No. 6. Elements of Financial Statements, paragraph 70)
Accounting Trends & Techniques - AICPA /60th Edition - 2006 (Page 401 - Section 4: Comprehensive Income: Presentation in Annual Report [Section 4: pages 401-437]
Definition:
4.01 - Statement of Financial Accounting Standards (SFAS) No. 130, "Reporting comprehensive Income", requires that a full set of general-purpose financial statements report comprehensive income and its components. Comprehensive income includes net income, foreign currency items, minimum pension liability adjustments, changes in the fair value of certain investments in debt and equity securities. If an entity only has net income, it is not required to report comprehensive income. SFAS No. 130 encourages reporting comprehensive income in either a combined statement of income and comprehensive income or in a separate statement of comprehensive income.
Hope this helps.
Nearly 18 years translating for Mexico City international accounting firms, banks, brokerage firms, Instituto Mexicano de Contadores Públicos, A. C., money laundering prevention projects for US Embassy in Mexico City and Bogota, Colombia, as well as for the US Treasury Dept. through a consulting firm (Metrica), etc.
Former ESL/EFL Teacher accredited by CELE-UNAM & CENLEX-IPN
-------------------------------------------------- Note added at 6 hrs (2006-12-16 19:40:33 GMT) --------------------------------------------------
"Comprehensive Income" was first introduced as a complete section in itself - Section 4 - in the 1999 edition of "Accounting Trends & Techniques" published annually by the AICPA. Section 4 of the 1999 edition runs from pages 401 to 414, and has grown since then. The 2006 edition fresh off the press runs from pages 401 to 437.
Explanation: Comprehensive income is defined pursuant to the following sources:
AICPA Audit guide - Auditng Derivative Instrurments, Hedging Activities, and Investments in Securities / With Conforming Changes as of May 1, 2006 (Page 203/Glossary)
Definition:
The change in equity of a business enterprise during a period from transactions and other events and circumstances from nonowner sources. It includes all changes in equity duirng a period except those resulting from investments by owners and distributions to owners (FASB Concepts Statement No. 6. Elements of Financial Statements, paragraph 70)
Accounting Trends & Techniques - AICPA /60th Edition - 2006 (Page 401 - Section 4: Comprehensive Income: Presentation in Annual Report [Section 4: pages 401-437]
Definition:
4.01 - Statement of Financial Accounting Standards (SFAS) No. 130, "Reporting comprehensive Income", requires that a full set of general-purpose financial statements report comprehensive income and its components. Comprehensive income includes net income, foreign currency items, minimum pension liability adjustments, changes in the fair value of certain investments in debt and equity securities. If an entity only has net income, it is not required to report comprehensive income. SFAS No. 130 encourages reporting comprehensive income in either a combined statement of income and comprehensive income or in a separate statement of comprehensive income.
Hope this helps.
Nearly 18 years translating for Mexico City international accounting firms, banks, brokerage firms, Instituto Mexicano de Contadores Públicos, A. C., money laundering prevention projects for US Embassy in Mexico City and Bogota, Colombia, as well as for the US Treasury Dept. through a consulting firm (Metrica), etc.
Former ESL/EFL Teacher accredited by CELE-UNAM & CENLEX-IPN
-------------------------------------------------- Note added at 6 hrs (2006-12-16 19:40:33 GMT) --------------------------------------------------
"Comprehensive Income" was first introduced as a complete section in itself - Section 4 - in the 1999 edition of "Accounting Trends & Techniques" published annually by the AICPA. Section 4 of the 1999 edition runs from pages 401 to 414, and has grown since then. The 2006 edition fresh off the press runs from pages 401 to 437.
The translation workplace 
