What is included in other comprehensive income? Why are items included in other comprehensive income, but not included in net income? Should these items be included in net income, or not included at all? Explain your answer.© BrainMass Inc. brainmass.com March 4, 2021, 10:05 pm ad1c9bdddf
Other comprehensive income is in response to the limitations of the income statement in presenting fully the results of the company's operations. Some of these limitations include the omission from income statement items that cannot be measured reliably, impact of accounting methods and principle used on income figures, and income measurements involved judgment.
OCI is not reported as ...
This solution discusses other comprehensive income in 249 words.