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In your text , what does it mean to classify an investment at FVTOCI?
Also, the changes in value what does it mean in the context that with any change in value of equity asset , it should be reflected in the SOPL.
“FVTOCI” is the abbreviation for “Fair Value Through Other Comprehensive Income” and is the alternative (in some cases) to Fair Value Through Profit or Loss (FVTPL)
“Also, the changes in value what does it mean in the context that with any change in value of equity asset, it should be reflected in the SOPL”
It means that, when at the year end the value of a financial asset has increased when compared with the corresponding value figure brought forward, that increase is credited to Profit or Loss Account and debited to the financial asset account
OK?
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