Disposal of financial assets

This topic has 1 reply, 2 voices, and was last updated 5 years ago by Stephen Widberg.

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November 23, 2020 at 10:01 pm #596202
Ibra@2605
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If a financial asset through OCI is disposed, IFRS 9 states that it cannot be transferred to profit or loss when disposed off but it may be transferred within equity.

What does it means exactly
November 24, 2020 at 8:04 am #596236
Stephen Widberg
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If asset is DEBT

Dr OCI / Revaluation reserve (SOCIE)
Cr P&L

with accumulated gains.

If asset is EQUITY

Dr Revaluation reserve (SOCIE)
Cr Retained earnings (SOCIE)

with accumulated gains.

Or of course other way round for losses.
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