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Selected Works of Dennis J. Chambers
Book
Comprehensive Income Reporting: FASB Decides Location Matters
(2011)
  • Dennis Chambers, Kennesaw State University
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Abstract
The article reports on Accounting Standards Update (ASU) 2011-05 issued by the Financial Accounting Services Board (FASB) in June 2011. It states that the standard requires all companies to report comprehensive income and components either in one continuous statement or in two separate, but consecutive, net income and other comprehensive income statements.In both cases, companies must reportedly now report in an income statement-type location for total comprehensive income.
Keywords
  • Accounting,
  • business revenue,
  • corporate accounting,
  • financial statements
Disciplines
Publication Date
September, 2011
Publisher Statement
May be used with permission of CPA Journal, copyright holder.
Citation Information
Chambers, Dennis J. "Comprehensive Income Reporting: FASB Decides Location Matters." CPA Journal 81.9 (2011): 22-25.