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Learn new Accounting Terms  ABSORPTION COSTING is the method
under which all manufacturing costs, both variable and fixed,
are treated as product costs with non-manufacturing costs, e.g.
selling and administrative expenses, being treated as period
costs.  OTHER COMPREHENSIVE INCOME (OCI) is part of total
comprehensive income but is generally excluded from net income.
Prior to SFAS 130, these three items' foreign currency
translation adjustments, minimum pension liability adjustments,
and unrealized gains or losses on available-for-sale
investments'were disclosed as separate components of
stockholders' equity on the balance sheet. Under SFAS 130, they
are to be reported as OCI. Furthermore, they must be reported
separately, as FASB decided that information about each
component is more important than information about the
aggregate. Later, net unrealized losses on SFAS 133 derivatives
were