Accumulated other comprehensive income (AOCI) from one period to the next
Will change other comprehensive income(OCI) only
Under US gap, a material transaction that is ‘infrequent and a occurrence’ and/or ‘unusual in nature’
Should be present separate as a component of income from continuing operations from G/L
Where are foreign exchange gains and losses recorded? 
They recorded that year end to uncompleted contracts 
For two statement approach to display comprehensive income, this will include
Unrealized holding losses on available for sale debt securities, net of tax
Re-classification adjustment are necessary why 
To avoid double counting with comprehensive income
What happens for a segment of discontinued operations? 
It must be included within an operating losses for date of decision at year end
If account payable is included to foreign currency
Make sure to divide by the number of currency (1 use dollar) to each currency displayed (.75 euro)
What do general and admin expenses include?
Account and legal fees, office, salaries, insurance 
How would you find the total losses at your end?
Calculate operating losses, then impairment loss, add the total of the losses together
Where can comprehensive income can be shown?
It can be shown in one statement that shows both net income and comprehensive income
Where is accumulated other comprehensive income reported?
It is reported in stockholders equity section of the balance sheet
When purchasing goods the transaction must be recorded at
The spot exchange rate on data purchase
Where is unrealized gains and losses unavailable for sales debt securities included
They’re included in other comprehensive income, not net income
If there’s a display merchandise, where is it a part of?
It is part of selling expenses in considered a fixed asset
What is a fix asset?
Means they are not expense all at once, but expense by useful life
When a fixed asset is sold, gain and loss are recognized
Part of income from continuing operations
A segregated account to pay a current maternity, long-term bond, sinking fun debt will be classified as
Non-current assets, not cash
Regular account is reported as
A current asset
Overdraft accounts should be reported as
Current liability because you can’t legally offset the negative balance
When reporting gains and loss for foreign exchange on the financial statement, measurements would be reported on
Net income
Translations for reporting games and losses on foreign currencies on financial statement will be reported on
Other comprehensive income
Foreign exchange, transaction gain or loss are generally included
In determining net income from the period in which exchange rate change
Unrealized losses and available for sales equity securities portfolio must be included
In net income on income statement
Other comprehensive income items that include
Pensions, unrealized gains or loss on available for sale that debt securities, foreign currency transaction, instrument specific credit risk, and net income
