can someone explain me what comprehensive income and OCI is and what all is included in both of them
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Hello,
Comprehensive income= net income + other comprehensive income (OCI)
OCI includes:
1/Foreign currency profit and loss
2/Adjustment for minimum pension liabilities
3/unrealized P&L from hedging derivativea
4/unrealized P&L from availble for sale securities
I hope it helps
Zoubida
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Only under the current rate method; under the temporal method the foreign currency gain or loss is shown on the income statement.
Only some portions of pension cost (note: cost, not liability) are included in OCI, and it’s different under US GAAP than under IFRS.
Not all derivatives, and not all gains and losses. Specifically, the effective portion of cash flow hedges (as opposed to fair value hedges).
Indeed, thank you so much !
My pleasure.
Note that the distinctions that I make are really a Level II topic.
Ah okk good to know 