Accounting Interview Question:

What is a Comprehensive Income?

Submitted by: Administrator

Items GAAP does not want us to record in Income Statement. GAAP does not want financial statements provider to mislead users. Ex. items will record in comprehensive income are Unrealized gain or loss on available-for-sales securities; Unrecognized net gain or loss; Unrecognized prior service cost (credit); Unrecognized net gain or loss.
Submitted by: Administrator