The Financial Accounting Standards Board has released an updated accounting standard for reporting amounts reclassified out of accumulated other comprehensive income. Accounting Standards Update No.

The Financial Accounting Standards Board and the International Accounting Standards Board issued amendments Thursday to improve and align the presentation of items of other comprehensive income in ...

Other comprehensive income (OCI) is a term used in business accounting to define transactions that aren't yet realized. These figures include revenues, expenses, gains, and losses—all of which are ...

Discover the differences, advantages, and drawbacks of single-step vs. multiple-step income statements for better financial ...

In an effort to simplify its Accounting Standards Codification, FASB has combined its guidance for income statements and comprehensive income into one topic. Previously, FASB’s guidance on these ...

Matt Lee is the founding partner of Atlas Growth Capital. He has 3+ years of experience as a consultant and startup advisor. Clean surplus accounting excludes comprehensive or unusual items from net ...

Would-be entrepreneurs and business owners are faced with innumerable decisions when starting a business. One of the most important of these is which basis of accounting to use to record transactions ...

Hedge documentation is important in both financial reporting and income taxation.For financial accounting purposes, on the date of the hedge, an entity must identify the hedged item, the instrument ...

Learn what every business owner needs to know about financial accounting, accounting software and financial statements.