Definition Comprehensive Income

genevievegenevieve
in CIA.Accting

Hi,

I believe there is a little typo in that definition. Comprehensive Income = represents changes in the net asset NOT due to the owner activities (investment, distribution).

I believe this definition is for OCI because Comprehensive Income = Net Income + OCI. Net Income is due to owner activities as Net Income includes UW Income and Inv Inc.

Thanks

Comments

  • genevievegenevieve

    Hi, I think I understood what you met by not due to the owner activities. (Not from the activities on the owner source of revenue). I don't think they will ask that question anyway.
    Thanks

  • genevievegenevieve

    met = meant

  • javidjavid

    As per http://www.actuaries.ca/members/publications/2007/207002e.pdf,

    CICA 1530 introduces [...], and comprehensive income as a change in the value of net assets that is not due to owner activities (investments or distributions).

    You mentioned owner sources (investments), but it also includes owner events such a payment of dividends to shareholders (distributions).

  • genevievegenevieve

    Thanks, it is my interpretation of activities that got me confused. I will be very surprised they asked that question, if they do. I will know. ;)

  • genevievegenevieve

    they asked = they will ask, I wish the exam was already done. :smiley:

  • javidjavid

    :smile: I remember that feeling. You're almost there. :smile:

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