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 ...

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 ...

David Kindness is a Certified Public Accountant (CPA) and an expert in the fields of financial accounting, corporate and individual tax planning and preparation, and investing and retirement planning.

This guide was reviewed by a Business News Daily editor to ensure it provides comprehensive and accurate information to aid your buying decision. In financial accounting — one of the most common types ...

Create and customize an income statement to fit your business's needs, then save, print or send. Many, or all, of the products featured on this page are from our advertising partners who compensate us ...

Companies periodically report gains, losses, income and expenses on their income statements. This statement distinguishes between your company's results from operations and those from other sources.