in which those components are displayed or in the notes to the financial
statements. Alternative formats for disclosing the tax effects related to
the components of other comprehensive income are illustrated in Appendix B.
Reporting Other Comprehensive Income in the Equity Section of a Statement
of Financial Position
26. The total of other comprehensive income for a period shall be
transferred to a component of equity that is displayed separately from
retained earnings and additional paid-in capital in a statement of
financial position at the end of an accounting period. A descriptive title
such as accumulated other comprehensive income shall be used for that
component of equity. An enterprise shall disclose accumulated balances for
each classification in that separate component of equity on the face of a
statement of financial position, in a statement of changes in equity, or in
notes to the financial statements. The classifications shall correspond to
classifications used elsewhere in the same set of financial statements for
components of other comprehensive income.
27. APB Opinion No. 28, Interim Financial Reporting, clarifies the
application of accounting principles and reporting practices to interim
financial information, including interim financial statements and
summarized interim financial data of publicly traded companies issued for
external reporting purposes. An enterprise shall report a total for
comprehensive income in condensed financial statements of interim periods
issued to shareholders.
Amendments to Existing Pronouncements
28. APB Opinion No. 28, Interim Financial Reporting, is amended as
a. In the first sentence of paragraph 2, as amended by FASB Statement No.
95, Statement of Cash Flows, the term comprehensive income, is
inserted before and cash flows.
b. In paragraph 30(a), the phrase and net income is replaced by net
income, and comprehensive income.
29. In the last sentence of paragraph 13 of FASB Statement No. 52, Foreign