2022 CPA FAR Exam-Comprehensive Income-Darius Clark CPAexamTutoring.com-Darius Clark-i75 FAR-CPA

[@kevh2024]

Head and shoulders above all other CPA instructors.

[@marcpena3197]

Hell yes

[@amisheth1000]

I am not able to understand the closing journal entries. Can you please clear it?

[@haileyalden3496]

I've noticed questions just asking for "comprehensive income", but do not specify "other" or "total" comprehensive income, we should assume they mean total in this situation correct?

[@Eric-qh7is]

Total comprehensive income = NI + OCI so I would think this is basically asking what NI is…..someone please correct me if I am wrong

[@yaohan9628]

Correct

[@kakarot6627]

Why are unrealized gains and losses on debt part of OCI, but unrealized gains and losses on equity not?

[@yaohan9628]

The unrealized gain and losses on equity securities are recorded in income statement. Increase or decrease changes it’s fair value and will impact the company’s net income and earnings per share. It has nothing to do with OCI