What is the difference between Other Comprehensive Income and Accumulated Other Comprehensive Income?? OCI is unrealized gains/losses on items that are not part of the income statement. What is AOCI then? Notes say that it is unrealized gain on items mentioned in OCI. how can we have gain on gain? IT isn’t even the accumulation of OCi. Becausethey are two different accounts. Please help me clarify the concept.
Comprehensive income is _ all _ income: income through the income statement, and other comprehensive income (OCI).
OCI is _ this year’s _ other comprehensive income; _ accumulated _ OCI is all of the comprehensive income since the beginning of time.
Thank you, clarifies a lot. But, why do we use accumulated OCI from inception till date in the CY B/S, and no just CY OCI?
Everything on the balance sheet is accumulated since the beginning of time.