[Anonymous]

Hi, I am new to this forum but I love to read everything here. I am currently studying for FAR after a long long time out of school. My question for FAR: when it comes to comprehensive income and other comprehensive income, do companies really put in on the balance sheet? Or this is just for textbook learning? I have not seen much of this category on the balance sheet yet. Maybe it’s for big companies? Any help would be appreciate.

Thanks,

[Anonymous]

@Oldie

Comprehensive and its component are presented in either 1) a single statement of comprehensive income (single-statement approach); or 2) an income statement followed by a separate statement of comprehensive income that begins with net income (two statement approach) under U.S. GAAP.

Thus, it is never reported on the balance sheet (unless it's accumulated other comprehensive income, which is a component of equity that goes on the balance sheet).

Where did you get the notion that it goes on the balance sheet…?

[Author]

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