What does it mean to say that GAAP allows recycling of amounts recorded into OCI into net income upon realisation.
Unrealzed profits and losses and profits and losses that cannot be related to a particular period are generally recorded into 'Other Comprhensive Income'. The OCI is shown under equity.
Some of the items that are recorded in the OCI can be transferred to net income [recycled] on satisfaction of certain conditions.
For instance, when securities are revalued on balance sheet date, the resultant loss or profit is recorded into OCI and not to net income as they are not realized. When any portion of usch gain or loss is realized on sale of the securities, the gain or loss that is so realized would be transferred to net income. This is what is called recycling of amounts recorded in to OCI.
What does it mean to say that GAAP allows recycling of amounts recorded into OCI into...
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