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How are you?
I hope you are well and safe,
It’s mentioned in Kaplan textbook, CH1, page #6 the following,
Items of OCI must be classified into.
1-Items that might be reclassified to profit or loss in subsequent accounting periods.
2- Items will not be reclassified to profit or loss in subsequent accounting periods.
Could you tell me what exactly does it mean?
Thanks in advance.
I’m well, thanks. Enjoying the summer.
You don’t really need to concern yourself with this at this level, it is more something that is relevant for SBR and you can find more detail in the following technical article from the ACCA website: