Memorandum
To: Controller of Titan Networking

CC: Accountants
From: Man Shu Date: 03/12/2013
Re: Financial Analysis of Cisco _____________________________________________________________________
As you concerned, our company need to start report comprehensive income. I made several searches for that. In this memo, I will illustrate comprehensive income, FASB codification, and comprehensive income, locate and extract relevant information and authoritatively support for the financial report.

Comprehensive Income & Net Income
Net income shows a company’s total earning and profit. Comprehensive income is a more expansive view of the change in shareholders’ equity than traditional net income. It is the total non-owner change in equity for a reporting period. In fact, it encompasses all changes in equity other than from transactions with owners. Transactions between the corporation and its shareholders primarily include dividends and the sale or purchase of shares of the company’s stock. Most non-owner changes are reported in the income statement. So, the changes other than those that are part of traditional net income are the ones reported as “other comprehensive income.” Besides changes in the market value of securities available for sale, these changes might include Net unrecognized gains (losses) on pensions, Deferred gains (losses) from derivatives, and Gains (losses) from foreign currency translation.

Alternative formats for reporting comprehensive income
According to the FASB’s Codification 220-10-45-8, an entity’s financial statement shall display comprehensive income and its components in a financial statement. It is also need to be displayed with the same prominence as other financial statements that constitute a full set of financial statements. It does not require a specific format for that

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