OCI vs. AOCI

  • Creator
    Topic
  • January 24, 2015 at 8:22 pm #191603
    Jasminekoko
    Participant

    Can anyone help me with what items are on AOCI? OCI items are closed to AOCI so all items on OCI will have an opposite side of the T account in AOCI? and revaluation surplus and revaluation loss are cancelled each other out in AOCI? I’m confused. Thank you guys.

Viewing 1 replies (of 1 total)
  • Author
    Replies
  • January 24, 2015 at 9:57 pm #643185
    ScarletKnightCPA
    Participant

    My understanding is that Aoci will purely have the acummulated past years Oci balances. Aoci is to Oci what retained earnings is to net income.

    Far: 76 (Wiley Test Bank)
    Aud: 77 (Wiley Test Bank)
    Reg: 61, 76 (Wiley book, Wiley Test Bank)
    Bec: 86 (Wiley Test Bank)

    MBA in progress

  • Author
    Replies
Viewing 1 replies (of 1 total)
  • You must be logged in to reply to this topic.