Accumulated Other Comprehensive Income AOCI Overview, Breakdown
If so, and the entity later chooses to have its financial statements audited, the effects of other comprehensive income should be retroactively made in the audited financial statements. A statement of comprehensive income is typically used to report comprehensive income. Retained earnings, which include a company's net income, are disclosed separately. Financial statements provide information about a company's financial and economic health. The Financial Accounting Standards Board published Statement of Financial Accounting Standards No. 220, titled "Comprehensive Income," which establishes the...
