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Disposal of sub

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › Disposal of sub

  • This topic has 1 reply, 2 voices, and was last updated 3 years ago by Stephen Widberg.
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  • September 5, 2022 at 1:12 am #665174
    oslisaim
    Participant
    • Topics: 6
    • Replies: 0
    • ☆

    In the case of complete disposal of a subsidiary, do we reclassify all the gains/losses held in OCI at the disposal date? if yes, then why are items meant not to be reclassified are reclassified? this is from the technical article of Acca: Reclassify to profit or loss any amounts (the entire amount, not a proportion) relating to the subsidiary’s assets and liabilities previously recognised in other comprehensive income, as if the assets and liabilities had been disposed of directly.

    September 5, 2022 at 1:45 pm #665225
    Stephen Widberg
    Keymaster
    • Topics: 16
    • Replies: 3427
    • ☆☆☆☆☆

    If you sell a subsidiary, then recognise profit in P&L, being proceeds minus CA of subsidiary. No other reclassification (unless you mean exchange differences).

    Keep it simple. 🙂

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