Other comprehensive income
From ACT Wiki
Financial reporting.
(OCI).
Comprehensive income includes all gains and losses that affect shareholders' equity.
Comprehensive income includes both:
- Items reported in the statement of profit or loss (income statement), and
- Items reported separately in the statement of other comprehensive income.
Other comprehensive income refers to items reported separately in the statement of other comprehensive income (2), that are NOT in the statement of profit or loss (1).
Examples of items reported in Other comprehensive income include remeasuremant gains or losses on defined benefit pension plans (under IAS 19) and revaluation of land and buildings accounted for under IAS 16.
