Check out our NEW line of Home Care products from Bayes & Odor Assassin in our Cleaning Supplies Sections. We are an authorized independent dealer of Kirby vacuum bags and parts. All of our Kirby supplies are purchased from an authorized Kirby vacuum parts distributor. The Kirby company website address is www.kirby.com.
Accumulated other comprehensive income is a general ledger account that is classified within the equity section of the balance sheet. It is used to accumulate unrealized gains and unrealized losses on those line items in the income statement that are classified within the other comprehensive income category.
Comprehensive income, as you may recall from Chapter 4, is a more expansive view of income than traditional net income. In fact, it encompasses all changes in equity other than from transactions with owners. 18 So, in addition to net income, comprehensive income includes up to four other changes in equity.