BUS 251 Chapter Notes - Chapter 11: Issued Shares, Dividend, Retained Earnings
15 Aug 2016
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Other comprehensive income = gains & losses from revaluing certain financial statement items must be reported in oci rather than net income. Excluded from net income b/c did not result from transactions w/ third parties. Usu aggregated in accumulated other comprehensive income (aoci), part of she. Part of she to highlight that the transactions for these gains/losses are unrealized (did not result from transactions w/ 3rd parties) Contributed surplus = arises from certain transactions w/ shareholders involving sale/repurchase of company"s shares/issuance of stock options. I. e. if company repurchases own shares for less than they were originally issued for, difference = contributed surplus. Articles of incorporation = incl important details on what type of business the company will conduct, how bod will be organized, who management will be, what kinds of shares can be issued, etc. Authorized shares = various types & classes of shares that company authorized to issue.
