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AS40

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › AS40

  • This topic has 1 reply, 2 voices, and was last updated 6 years ago by P2-D2.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • May 24, 2019 at 5:23 pm #517185
    aliahmed1994
    Member
    • Topics: 38
    • Replies: 51
    • ☆☆

    Hi Chris,
    when we transfer the asset from IAS 2 to IAS 40 we revalue it, and the gains and losses goes to PNL, but in OCI there is no need to adjust it right??

    May 24, 2019 at 7:42 pm #517208
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7177
    • ☆☆☆☆☆

    Hi,

    Yes, the standard states that the difference is recognised through profit or loss, so we do not need to adjust OCI.

    Thanks

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