The FASB has amended the reporting requirements for reclassifications out of accumulated other comprehensive income. The changes are described in Accounting Standards Update 2013-02, and they take effect on a staggered basis for public and private companies. The chart below helps summarize the changes for both types of companies.
Tables can be found as an appendix to the PDF version of MHM Messenger 8-13
For More Information
For more in-depth information about the reporting requirements for reclassifications, see the latest issue of the MHM Messenger.
For additional background on prior steps taken by the FASB to increase the prominence of comprehensive income and the effects on net income, see these other publications from Mayer Hoffman McCann P.C.