Gains and losses reported as other comprehensive income (OCI) and as special items (SI) are often viewed as similar in nature: transitory items with little ability to predict future cash flows and minimal implications for company value. However, current accounting standards require SI gains and...

Statement of Financial Accounting Standards No. 158 (SFAS 158) requires companies to report the funded status of retirement plans on the balance sheet for fiscal years ending after December 15, 2006. Prior to this, the average retirement plan was underfunded, and after the adoption of SFAS 158...