Part 1
Write: Make sure your response addressing the following question is more than 300 words and includes an in-text citation or a brief quote from the reading material where appropriate. You may want to review the Citing Within Your Paper (Links to an external site.) resource from the Ashford Writing Center for proper use of citations.
Other comprehensive income (OCI) classification assists users in understanding the magnitude of these charges and the future impact on earnings. In your post,
Explain how OCI disclosures provide information about the future impact on earnings.
Give a real-world or hypothetical example to tie this concept to business practices.
Part 2
Write: Make sure your response addressing the following question is more than 300 words and includes an in-text citation or a brief quote from the reading material where appropriate. You may want to review the Citing Within Your Paper (Links to an external site.) resource from the Ashford Writing Center for proper use of citations.
If reversing entries are used for events such as accrued payroll at year’s end, how would the company’s accounting be affected if reversing entries were not made for payroll? What are the potential consequences for the business?