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Wiley GAAP 2008 by Colorado Steven M. Bragg Englewood, Ralph Nach American Express Tax and Business Inc., Barry J. Epstein

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Definitions of Terms

Component of an entityThe operations and cash flows that can be clearly distinguished, operationally and for financial reporting purposes, from the rest of the entity. All of the following are components of an entity: A reportable segment, which is a segment considered to be significant to an enterprise's operations; a segment that has passed one of three 10% tests (assets, revenues, or operating profit or loss) or has been identified as being reportable through other criteria (FAS 131) An operating segment, which is a component of an enterprise that may earn revenues and incur expenses, and about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance (FAS 131) A reporting unit, which is an operating segment or one level below an operating segment (FAS 142) A subsidiary An asset group, which is the lowest level for which identifiable cash flows are largely independent of the cash flows of other groups of assets and liabilities (FAS 144)
Comprehensive incomeThe change in equity of a business enterprise during a period from transactions and other events and circumstances from nonowner sources. It includes all changes in equity during a period, except those resulting from investments by owners and distributions to owners (CON 6).
Development stage enterpriseAn entity that is devoting substantially all its efforts to establishing itself ...

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