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FASB combines ASC 220 and ASC 225

  • FASB (US Financial Accounting Standards Board) Image

Nov 17, 2017

As part of its project on Codification improvements, the FASB has published a maintenance update that combines the guidance in ASC 220, “Comprehensive Income,” and ASC 225, “Income Statement,” into one topic.

Specifically, ASC 220 has been renamed to “Income Statement — Reporting Comprehensive Income” and the related guidance in ASC 225 has been moved to ASC 220; however, no incremental changes to the actual guidance have been made.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.