{"id":1387,"date":"2010-12-10T06:12:35","date_gmt":"2010-12-10T04:12:35","guid":{"rendered":"http:\/\/www.officetodo.com\/public\/?p=1387"},"modified":"2012-08-16T09:18:25","modified_gmt":"2012-08-16T07:18:25","slug":"statement-of-comprehensive-income-template-%e2%80%93-other-comprehensive-income","status":"publish","type":"post","link":"http:\/\/www.officetodo.com\/public\/statement-of-comprehensive-income-template-%e2%80%93-other-comprehensive-income\/","title":{"rendered":"Statement of Comprehensive Income Template \u2013 Other Comprehensive Income"},"content":{"rendered":"<p><strong>Statement of Comprehensive Income Template<\/strong> includes besides \u201cProfit for the year\u201d a section named \u201cOther comprehensive income\u201d. What exactly is this \u201cOther comprehensive income\u201d and why would a company require such a statement in the annual report? An abbreviation for this term is OCI, which you also may come across in relevant literature.<br \/>\n<!--more--><br \/>\nFirst off the requirement comes mainly from IAS but it may also be present in your local GAAP. Although the requirement has been there for quite some time now, it\u2019s still poorly addressed and understood. Mathematically the other comprehensive income is a difference between net income and recognized changes in equity (except those relating to transactions with owners) during the reporting period.<\/p>\n<p>Basically what this other comprehensive income includes, in the hope that this shall clarify also the term a bit, are unrealized gains and losses on certain investments in securities, foreign currency translation results, revaluation of property, plant and equipment and certain pension liability adjustments etc. These are not reported in the income statement, but are included in the accumulated other comprehensive income section of equity. From this you can pretty much understand where the mathematical equation comes from.<\/p>\n<p>While on the comprehensive income statement those changes are reflected for the period and are measured, they are still unrealized. On the contrary changes on the income statement are realized for the period. On the balance sheet however, those unrealized changes are recorded in the accumulated comprehensive income section of equity waiting to be realized in future. Realized means either sold, paid off etc. I guess you could say that the other comprehensive income is a statement of changes in fair value.<\/p>\n<p>The fields in our Statement of Comprehensive Income Template are more for explanatory reasons and you should add your own lines when you find the necessary depending on your local GAAP or industry.<\/p>\n<p><span style=\"text-decoration: underline;\"><strong><a title=\"Statement of Comprehensive Income template\" href=\"http:\/\/www.officetodo.com\/public\/statement-of-comprehensive-income-template\/\">Download template here<\/a><\/strong><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Statement of Comprehensive Income Template includes besides \u201cProfit for the year\u201d a section named \u201cOther comprehensive income\u201d. What exactly is this \u201cOther comprehensive income\u201d and why would a company require such a statement in the annual report? An abbreviation for this term is OCI, which you also may come across in relevant literature.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[28,49],"tags":[],"class_list":["post-1387","post","type-post","status-publish","format-standard","hentry","category-4-reporting","category-4-4-income-statement"],"aioseo_notices":[],"_links":{"self":[{"href":"http:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/posts\/1387","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/comments?post=1387"}],"version-history":[{"count":4,"href":"http:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/posts\/1387\/revisions"}],"predecessor-version":[{"id":3292,"href":"http:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/posts\/1387\/revisions\/3292"}],"wp:attachment":[{"href":"http:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/media?parent=1387"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/categories?post=1387"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/tags?post=1387"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}