David Kindness is a Certified Public Accountant (CPA) and an expert in the fields of financial accounting, corporate and individual tax planning and preparation, and investing and retirement planning.

In an effort to simplify its Accounting Standards Codification, FASB has combined its guidance for income statements and comprehensive income into one topic. Previously, FASB’s guidance on these ...

Other comprehensive income (OCI) is a term used in business accounting to define transactions that aren't yet realized. These figures include revenues, expenses, gains, and losses—all of which are ...

Companies periodically report gains, losses, income and expenses on their income statements. This statement distinguishes between your company's results from operations and those from other sources.

A loss isn't realized until it actually hits your pocketbook. Suppose your business holds stock in another company, and that stock drops $5,000 in value. If you still own the stock, the loss is only ...

Income statements, balance sheets and cash flow statements. If you're running a business, you probably have some knowledge of basic financial statements and how to use them. But do you know why ...

Net income seems straightforward: It is the result when expenses (administrative expenses, business expenses, interest expenses, operating costs and other expenses) are subtracted from revenue. This ...

Somer G. Anderson is CPA, doctor of accounting, and an accounting and finance professor who has been working in the accounting and finance industries for more than 20 years. Her expertise covers a ...