Detail How Companies Report Income   Oleh:  Luecke, Randall W. ; Meeting, David T. Jenis: Article from Bulletin/Magazine Dalam koleksi: Journal of Accountancy vol. 185 no. 5 (1998), page 45-56. Topik: INCOME; companies; income Ketersediaan Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ85.5 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada     Lihat Detail Induk Isi artikel The pendulum of income reporting is again changing direction. At different times over the years, businesses have used two major income reporting concepts. Under the current operating performance concept, extraordinary and nonrecurring gains and losses are excluded from income ; because those gains and losses are taken directly to equity and bypass the income statement, this is sometimes called the "dirty surplus" method. Under the all - inclusive (comprehensive) concept, all items, including extraordinary and non recurring gains and losses, go to the income statement ; the result is a "clean surplus," since all gains and losses are reported in the income statement. The AICPA Accounting Principles Board moved toward the all - inclusive income concept in 1966 when it issued Opinion no. 9, Reporting the Results of Operations, and later reaffirmed this concept in Opinions nos. 20, Accounting Changes, and 30, Reporting the Results of Operations - Reporting the Effects of Disposal of a Segment of a Business, and Extraordinary, Unusual and Infrequently Occurring Events and Transactions. The FASB followed the all - inclusive concept, except when changes in certain assets and liabilities were not reported in the income statement but, rather, were included as a separate component of equity. Pronouncements with such exceptions are FASB Statements nos. 52, Foreign Currency Translations, 80, Accounting for Futures Contracts, 87, Employers' Accounting for Pensions, and 115, Accounting for Certain Investments in Debt and Equity Securities. Starting with Statement no. 12, Accounting for Certain Marketable Securities, in 1975, the FASB used a hybrid of the operating performance and the all - inclusive concepts. More recently, in Statement no. 130, Reporting Comprehensive Income, it moved closer to the all - inclusive income determination method. This article explains this and other important aspects of Statement no. 130 and offers implementation guidance companies can use as they begin to comply with the statement. Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Kembali

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