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Hi sir,
For non current assets & inventories,where should we recognise the exchange gain or loss?
Thanks..?
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I assume you are referring to non-monetary NCA and inventory. Their foreign exchange gains and losses are classified in the same head as the changes in their carrying values are recognised.
For example, the fair value changes of investment properties are recorded in SOPL, so if there’s any exchange gain or loss it will also be recorded in the SOPL.
On the other hand, Revaluation gains of IAS 16 assets are recorded in OCI. So if an exchange gain arises on such asset, it will be recorded in OCI.
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