[jeff]

Free Study Planner, Notes, Audio, Flashcards: https://www.another71.com/cpa-exam-study-plan/

Free CPA Exam Survival Guide: https://www.another71.com/cpa-exam-survival-guide/

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[justincbro]

Hi, I'm hoping someone can help me with this because I can't seem to wrap my head around this concept…

When Unrealized Gains/Losses occur with Available-for-Sale securities, I know that this temporary gain/loss should be shown on the BS until it's actually recognized. I also know that this unrealized gain/loss is part of OCI. What I can't figure out is this: if the unrealized gain/loss is part of OCI, wouldn't that mean that it could also sometimes show up on the IS?? Because I thought there was an option for showing OCI at the bottom of the IS? I'm losing my mind because all of the answers imply that unrealized gains/losses in AVS securities show up on OCI, and therefore the BS, but I thought OCI could be shown at the bottom of the IS. PLEASE HELP!!

BEC DONE
AUD DONE
FAR ???
REG DONE

[HopefulCPA0601]

i have to take the practice exams too! eeek

BEC: 65 - 79* - 84 DONE
AUD: 65 - 76 DONE
REG: 63 - 77 DONE
FAR: 65 - 63 - 67 - 69 - 73 - 71 - 83 DONE

Becker Notes & Flashcards, Wiley Test Bank, Ninja MCQ

[CPA50]

Hi,

This helped me understand OCI and Accumulated OCI…

https://www.accountingtools.com/other-comprehensive-income

Hope it helps…

AUD 88 (expired), 80 retake
FAR 64,69,67,73,67,73,73,73, August 3
REG 75 (expired) September 7
BEC 72, 77

The adventure continues...

[Anonymous]

justincbro,

it is shown in the income statement, but after the net income

[jpowell31]

i think you have to assume that, since OCI is not part of “net income” that an “income statement” stands alone and that the company also reports a statement of comprehensive income and/or change in equity or else it would be called a statement of comprehensive income (or statement of income and comprehensive income)… pretty stupid…

[justincbro]

That's it! Thanks jpowell, part of that is counter-intuitive to me…and the other part makes perfect sense. I get what you're saying though, and I think you're right, and I'm going to commit that to memory because I think it's a most know. BTW, good luck with FAR…I couldn't help but notice we are in almost exactly the same boat. BEC expires for me at the end of this month unless I pass FAR Aug 26th!!

BEC DONE
AUD DONE
FAR ???
REG DONE

[justincbro]

And thanks CPA50 for the resource, I will def look through that site…every bit of information helps.

BEC DONE
AUD DONE
FAR ???
REG DONE

[Anonymous]

Yeah, whatever is not included in net income is not in “income statement”. Besides, OCI could be presented separately from income statement

I always think of balance sheet accounts as yellow and income statement accounts as blue

[jpowell31]

thanks @justin! it's those little things that have clicked for me…there are still major holes in remembering certain topics/calcs…i get easily tricked/tricked up so can't feel overwhelmed going in which means i need to know everythinggggggggg or else my heart will actually explodeeeee.

i took a break and breezed through some notes i put on tear out pages from Becker my first round through and am like WTF is this?!! baahhhh. definitely panicking. i dont' want to say i'm a quitter but i honestly am not sure i could retake FAR and AUD again. that's a) helping me focus and b) not allowing me to focus. solid mess over here 🙂

[jpowell31]

tricked/tripped up..,,brain's mush now but i can't stopppppp

[HopefulCPA0601]

@jpowell take a deep breath!! I know how you feel, if i dont pass FAR i lose REG. we can do this!!

BEC: 65 - 79* - 84 DONE
AUD: 65 - 76 DONE
REG: 63 - 77 DONE
FAR: 65 - 63 - 67 - 69 - 73 - 71 - 83 DONE

Becker Notes & Flashcards, Wiley Test Bank, Ninja MCQ

[HopefulCPA0601]

also already had to retake BEC because of this stupid exam… aka this exam ruins my life and my sleep

BEC: 65 - 79* - 84 DONE
AUD: 65 - 76 DONE
REG: 63 - 77 DONE
FAR: 65 - 63 - 67 - 69 - 73 - 71 - 83 DONE

Becker Notes & Flashcards, Wiley Test Bank, Ninja MCQ

[jstay]

its pretty much a guarantee that I'm going to see treasury stock on the exam right?

[HopefulCPA0601]

possibly, what is your question on t-stock? we can help

BEC: 65 - 79* - 84 DONE
AUD: 65 - 76 DONE
REG: 63 - 77 DONE
FAR: 65 - 63 - 67 - 69 - 73 - 71 - 83 DONE

Becker Notes & Flashcards, Wiley Test Bank, Ninja MCQ

[jpowell31]

if there's one thing predictable about this exam it is that there is nothing predictable about this exam.

[Author]

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