Accumulated other comprehensive income

Note: Reference cited below, FAS130, remains the most current accounting literature in the United States on this topic.

In 1997 the United States Financial Accounting Standards Board issued Statement on Financial Accounting Standards No. 130 entitled “Reporting Comprehensive Income”. This statement required all income statement items to be reported either as a regular item in the income statement or a special item as other comprehensive income. It is commonly referred to as FAS130.