So I ran across a question on comprehensive income in Q-Bank and realized I need a review: Broad definition: comprehensive income encompasses all changes in current-cost net worth other than transactions with shareholders examples of elements that will affect comprehensive income: Funded pension status Unrealized gains and losses from sale of available for sale securities Cumulative foreign currency translations adjustment Anything else?
Adding to my list: Deferred gains/losses from foreign currency hedges
effective portion of cash flow hedge
- Unrealized Gains and losses on available for sale securities as required by Statement of Financial Accounting Standards No. 115 (“FAS115”) - “Accounting for Certain Investments in Debt and Equity Securities” 2. Gains and losses on derivatives held as cash flow hedges as required by Statement of Financial Accounting Standards No. 133 (“FAS133”) - “Accounting for Derivative Instruments and Hedging Activities”. 3. Gains and losses resulting from converting foreign currency subsidiaries to the parent currency as required by Statement of Financial Accounting Standards No. 52 (“FAS52”) - “Foreign Currency Translation”, and 4. Minimum pension liability adjustments, as required by Statement of Financial Accounting Standards No. 158 (“FAS158”)- “Employers’ Accounting For Defined Benefit Pension And Other Postretirement Plans”. 5. Unrealized gains and losses from a foreign currency hedge of a net investment in a foreign operation as required by FAS133.
also summarized by P.Olinto as PUFE P=FAS158 Minimum Pension Liab. U=Unrealized Gain/Loss from AFS Securities F=Gains/Losses on Foreign currency subs. under Current rate method. E=Effective portion of Cash flow hedge.
thanks everyone! PUFE should be easier to remember!
cpk is like a Peter Olinto slave. god only knows what will occupy him when he passes 
Guys, Is it possible to clarify a couple of points? I had just memorised the below but just stumbled on q 13 p 276 ss7, which has made me reassess. Does (3) below refer to the Translation adjustment i.e difference between start CTA and end CTA produced via the all-current method? I say this on the basis that Temporal method asjustment is already incorporated in NI. Also (4) is this only relevant if you were analysis a US balance sheet pre- Dec 16th 2006 i.e. old stds? That is to say you’d work out the difference between the ‘comedy’ pension liability and the actual liability? That is to say recognise the unrecognised (come back donald rumsfeld, all is forgiven) prior service costs/actarial losses? Thanks, APP 1. Unrealized Gains and losses on available for sale securities as required by Statement of Financial Accounting Standards No. 115 (“FAS115”) - “Accounting for Certain Investments in Debt and Equity Securities” 2. Gains and losses on derivatives held as cash flow hedges as required by Statement of Financial Accounting Standards No. 133 (“FAS133”) - “Accounting for Derivative Instruments and Hedging Activities”. 3. Gains and losses resulting from converting foreign currency subsidiaries to the parent currency as required by Statement of Financial Accounting Standards No. 52 (“FAS52”) - “Foreign Currency Translation”, and 4. Minimum pension liability adjustments, as required by Statement of Financial Accounting Standards No. 158 (“FAS158”)- “Employers’ Accounting For Defined Benefit Pension And Other Postretirement Plans”. 5. Unrealized gains and losses from a foreign currency hedge of a net investment in a foreign operation as required by FAS133.
it is exactly that…
cpk123 Wrote: ------------------------------------------------------- > also summarized by P.Olinto as PUFE > > P=FAS158 Minimum Pension Liab. > U=Unrealized Gain/Loss from AFS Securities > F=Gains/Losses on Foreign currency subs. under > Current rate method. > E=Effective portion of Cash flow hedge. CPK, What does Effective portion means. I thought it as unrealized G/L for cash flow hedges?
Isn’t it called Other Comprehensive Income? I thought Comprehensive Income is the FSA adjustment to combine Net Income + OCI = Comprehensive Income. Pls confirm.
aarguello Wrote: ------------------------------------------------------- > Isn’t it called Other Comprehensive Income? I > thought Comprehensive Income is the FSA adjustment > to combine Net Income + OCI = Comprehensive > Income. Pls confirm. Yes.
solarpower03 Wrote: ------------------------------------------------------- > cpk123 Wrote: > -------------------------------------------------- > ----- > > also summarized by P.Olinto as PUFE > > > > P=FAS158 Minimum Pension Liab. > > U=Unrealized Gain/Loss from AFS Securities > > F=Gains/Losses on Foreign currency subs. under > > Current rate method. > > E=Effective portion of Cash flow hedge. > > > CPK, > What does Effective portion means. I thought it as > unrealized G/L for cash flow hedges? http://intra.som.umass.edu/pfeiffer/ACCTG_322/Derivatives/Cash%20Flow%20Hedge.pdf
Change in equity = NI + OCI - Dividend + APIC? CI = NI + OCI
Is Minimum Pension Liab = 0 if the firm has adopted SFAS 158?