Current NASDAQ Corporation Methods of Reporting Comprehensive Income
شنبه , 23 شهریور 1392 ساعت 14:13 دسته بندی :دانلود مقاله:
Current NASDAQ Corporation Methods of Reporting Comprehensive Income
نویسندگان :
Ganesh M. Pandit, Adelphi University
Allen Rubenfield, Clark Atlanta University
Jeffrey J. Phillips, Clark Atlanta University
چکیده :
Statement of Financial Accounting Standard No. 130 (SFAS 130) was released
in 1997 which required publicly traded companies to separately report comprehensive
income in the financial statements. SFAS 130 prescribed three
alternative formats for the presentation without mandating any one specific
format. SFAS 130 also required certain details of comprehensive income to be
displayed prominently in the financial statements. The current study examined
the presentation of comprehensive income by a sample of companies traded on
the NASDAQ market to determine the predominant method of presentation
among these companies, five years after SFAS 130 became effective. Results of
the examination of one hundred annual reports showed that a majority of the
sampled companies used the third approach, which was to present comprehensive
income as part of the Statement of Stockholders’ Equity, as against the first
two approaches that favored presentation of comprehensive income on the face
of the Income Statement or in a separate statement. Further, the paper also
discusses some ancillary findings pertaining to the presentation of the details of
comprehensive income.
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