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Statement of Financial Accounting Standards No. 130 - page 17 / 57





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expanding the scope to encompass not-for-profit organizations.  Concepts

Statement 6 does not alter the definition of comprehensive income provided

in Concepts Statement 3.

39. Prior to the issuance of this Statement, the Board had not required

that comprehensive income and its components be reported as part of a full

set of financial statements.  However, several accounting standards

required that certain items that qualify as components of comprehensive

income bypass a statement of income and be reported in a balance within a

separate component of equity in a statement of financial position.  Those

items are:

a.   Foreign currency translation adjustments (Statement 52, paragraph 13)

b.   Gains and losses on foreign currency transactions that are designated

    as, and are effective as, economic hedges of a net investment in a

    foreign entity, commencing as of the designation date (Statement 52,

    paragraph 20(a))

c.   Gains and losses on intercompany foreign currency transactions that

    are of a long-term-investment nature (that is, settlement is not

    planned or anticipated in the foreseeable future), when the entities

    to the transaction are consolidated, combined, or accounted for by the

    equity method in the reporting enterprise's financial statements

    (Statement 52, paragraph 20(b))

d.   A change in the market value of a futures contract that qualifies as a

    hedge of an asset reported at fair value pursuant to Statement 115

    (Statement 80, paragraph 5)

e.   A net loss recognized pursuant to Statement 87 as an additional

    pension liability not yet recognized as net periodic pension cost

    (Statement 87, paragraph 37)

f.   Unrealized holding gains and losses on available-for-sale securities

    (Statement 115, paragraph 13)

g.   Unrealized holding gains and losses that result from a debt security

    being transferred into the available-for-sale category from the held-

    to-maturity category (Statement 115, paragraph 15(c))

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