1 Comprehensive Income is defined as + Earnings. and losses 2 Earnings is the sum of Revenues, Expenses, and certain subject to the Matching Principle 3 Other Comprehensive Income can consist of Revenues, Expense, and certain gains and _that are specifically excluded from Earnings under US GAAP. not as 4 Dividends are recorded as reductions of reductions in AOCI. 5 Other Comprehensive Income and its associated AOCI account can be either or negative as to arithmetic sign. 6 AOCI is not considered a Permanent account. Over time the sum of the debits and credits to AOCI should "zero out" or AOCI balances will be "cleared out" to 7 AOCI and Retained Earnings are examples of capital while Preferred Stock, Common Stock (par and APIC as required), Treasury Stock and Noncontrolling interests (for the most part) are considered CONTRIBUTED capital. 8 If a corporation acts internationally and has some businesses located in another country that are best described in a foreign currency (relative to the US Dollar as a reporting currency) the process of foreign currency reporting during the process of consolidation accounting can give rise to an AOCI account often labelled 9 Gains and losses on derivatives are sometimes reported in AOCI. In most cases the circumstances that give rise to this accounting is that the derivatives are meant to offset unwaned Market Risk. The process where derivative gains and losses are meant to provide this offset is known in both Finance and Accounting as 10 Does US GAAP have the same number and type of AOCI accounts as IFRS ? YES OR NO