When consolidating a subsidiary with accumulated other comprehensive income (loss)from a prior year, you have to eliminate the amount of current year unrealized holding gain (loss) by reclassifying it from other comprehensive income up into net income. Otherwise you're not going to be able to eliminate it through retained earnings, and you'll end up with a funky amount in your consolidated stockholders equity for accumulated OCI which is not technically correct. If only I had taken the time to figure this out last year. . .
Also, I learned what a Section 382 limitation is. When there is an ownership change in a corporation, the amout of net operating loss existing at that date that can be carried forward to offset taxable income in any particular future year is limited. The limitation is calculated as the value of the company at the date of acquisition times the long-term tax-exempt rate.
So I'm that much closer to knowing everything about accounting and tax. Which is still pretty far.
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