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Disposal of foreign subsidiary – Chapter 6

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

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January 12, 2022 at 7:09 pm #645781
wgk
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When originally Dr’ed / Cr’ed in OCI it would have appeared in OCE.

When it is now being reclassified from SOCI to SPL, should OCE be adjusted?? Or is the reclassified element not booked to retained earnings as it has already been taken through OCE when originally Dr’ed / Cr’ed to OCI??

Otherwise there is definitely double counting – first to OCE via OCI and now to RE via SPL!!
January 13, 2022 at 4:51 pm #645923
Stephen Widberg
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Reclassification of XD – assume they are gains

SPLOCI – P&L up and OCI down

SFP – RE up and OCE (foreign exchange reserve) down.
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