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comprehensive income

(Dictionary)

Author:
Harold Averkamp, CPA, MBA

Definition

Comprehensive income consists of the following two components (which are reported on the statement of comprehensive income):

  • Net income (or loss) from the income statement, and
  • Other comprehensive income (some additional items that are not reported on the income statement).

Two examples of items reported as other comprehensive income are:

  • Foreign currency translation adjustments
  • Unrealized gains/losses on postretirement benefit plans

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About the Author

Harold Averkamp

For the past 52 years, Harold Averkamp (CPA, MBA) has
worked as an accounting supervisor, manager, consultant, university instructor, and innovator in teaching accounting online. He is the sole author of all the materials on AccountingCoach.com.

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