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Hi Sir, in relation to calculation of foreign currency investment in equity instrument, why is the gain of $1.5m (value on initial recog. – value on 31 May X8) not added up to working 5 – Other components of equity? I found that it is just $17.4m added up to adjust for other components.
As I noted that the purchase of this equity instrument is on 1 Jun 201×7 hence should the gain be added up to balance of other components equity, right?Appreciate for your help.
Hi,
Within part (e) of the question it specifically states “Bravado has not recorded any change in value of the instrument since 31 May 20X8” so the gain of $1.5 million will already have been recorded and will be in the financial statements already.
Thanks
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