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    Business Dictionary

    The Yahoo Small Business Dictionary defines, explains, and cross-references more than 1,800 key small business words, phrases, acronyms, and concepts, covering topics including small business finance, management, sales, startup, exit strategy, and growth. To use the dictionary, type a word in the search box or click a letter to browse the listings alphabetically.

    Comprehensive Income

    Comprehensive income is the change in equity of a business enterprise during a period from transactions and other events from non-owner sources. It includes all non-owner changes in equity (in contrast to net income which does not include some changes in equity). Financial Accounting Standards Board (FASB) issued the Statement of Financial Accounting Standards No. 130 (SFAS 130), Reporting Comprehensive Income. For fiscal years beginning after December 15, 1997, SFAS 130 requires the disclosure of both net income and a more comprehensive’ measure of income which includes four items recorded as owners’ equity under previous FASB pronouncements: adjustments to unrealized gains and losses on available-for-sale marketable securities (SFAS 115), foreign currency translation adjustments (SFAS 52), minimum required pension liability adjustments (SFAS 87), and changes in the market values of certain futures contracts qualifying as hedges (SFAS 80).

    Glossary provided by Campbell R. Harvey, Professor of Finance at Duke University.
    Copyright © 2006, Campbell R. Harvey. All worldwide rights reserved. Do not reproduce without explicit permission.

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