Equity Securities, is amended as follows:
a. Paragraph 13 is amended as follows:
(1) In the second sentence, as a net amount in a separate component
of shareholders' equity until realized is replaced by in other
(2) In the last sentence, a separate component of shareholders'
equity is replaced by other comprehensive income.
b. In paragraph 15(c), recognized in a separate component of
shareholders' equity is replaced by reported in other comprehensive
c. In the first sentence of paragraph 15(d), such as accumulated other
comprehensive income, is inserted after shareholders' equity.
d. In the last sentence of paragraph 16, both references to the separate
component of equity are replaced by other comprehensive income.
Effective Date and Transition
34. The provisions of this Statement shall be effective for fiscal years
beginning after December 15, 1997. Earlier application is permitted. If
comparative financial statements are provided for earlier periods, those
financial statements shall be reclassified to reflect application of the
provisions of this Statement. The provisions of this Statement that
require display of reclassification adjustments (paragraphs 18-21) are not
required, but are encouraged, in comparative financial statements provided
for earlier periods. Initial application of this Statement shall be as of
the beginning of an enterprise's fiscal year; that is, if the Statement is
adopted prior to the effective date and during an interim period other than
the first interim period, all prior interim periods of that fiscal year
shall be reclassified.
| The provisions of this Statement need |
| not be applied to immaterial items. |