statement of operations

Presentation3

1. 205-954Health Care Entities205 Presentation of Financial Statements

   ASC 205-954 sets the basic financial statement presentation requirements for health care entities, both not-for-profit business-oriented and investor-owned. It requires a complete set of statements — balance sheet, statement of operations, statement of changes in equity (or net assets), statement of cash flows, and notes (205-954-45-1) — and permits descriptive alternative titles except that the cash flow statement should be titled "Statement of Cash Flows" (205-954-45-2). Presentation is essentially the same for both ownership forms except for items that are inapplicable, such as shareholders' equity for NFPs and contributions for investor-owned entities (205-954-05-1).

2. 220-946Financial Services—Investment Companies220 Income Statement—Reporting Comprehensive Income

   This subtopic governs the form and content of the statement of operations (income statement) for investment companies. The statement must show investment income less expenses to arrive at net investment income, then net realized gains/losses and the change in unrealized appreciation/depreciation on investments and foreign currency, summing to the net increase or decrease in net assets resulting from operations. Special presentation rules apply to multiple-class funds, master-feeder structures, and funds of funds.

3. 225-946Financial Services—Investment Companies225 Income Statement

   ASC 225-946 was the industry-specific income statement guidance for investment companies, but every paragraph in it (Sections 05, 15, 45, and 50) was superseded by Maintenance Update 2017-19. The subtopic is now an empty shell with no operative guidance; the substantive requirements for an investment company's statement of operations were relocated to (and remain in) ASC 946, Financial Services—Investment Companies. Readers encountering a citation to 225-946 should redirect to ASC 946-225.