Accounting standards update: presentation of comprehensive income.

• Position: FTBNEWS

The Financial Accounting Standards Board issued Accounting Standards Update No. 2011-05, Comprehensive Income (Topic 220): Presentation of Comprehensive Income, which provides an entity that reports items of other comprehensive income with the option to present comprehensive income in either one or two consecutive financial statements:

* A single statement must present the components of net income and total net income, the components of other comprehensive income and total other comprehensive income, and a total for comprehensive income.

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