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Hello
I was wondering when it comes to the consolidation of the Statement of income and comprehensive income – if you have a loss on remeasurement loan do you include this in the total comprehensive income or do you ignore it?
When are you going to have a “loss on remeasurement loan”
I don’t understand! Is this a loan that we are now subjecting to a fair value exercise? Tell me, if you personally have a loan of $50,000 and the lender says “Sorry but your loan has been fair valued to $55,000” do you just accept that?
Surely a loan of $50,000 is a loan of $50,000
Isn’t it?
Sorry that was worded all wrong………what i meant to say was a “Remeasurement loss on pension”……Im doing a foreign currency consolidation question, i was looking over the answers and saw that the Remeasurement loss on pension present in the parents separate Profit and loss and CI, was ignored in the consolidation. I was wondering why this was?
Thanks for your reply
Ah, now it’s beginning to make some sense …. but if you’re an F7 student, what are you doing in the dizzy heights of P2 and employee benefits and foreign consolidations?
The remeasurement loss relating to the employee benefit scheme should be recognised in the consolidated statement of comprehensive income.
For any F7 students reading this thread, please ignore it! It’s distinctly P2 and should only be read whilst under the influence of an approved anesthetic!
I am a F7 student, but I have to do parts of P2 to be exempt from F7 in my course.
I thought it was strange that it had been omitted, but I guess it’s probably a mistake in the answers.
Thanks for your help anyways.
Its not a question form the open tuition notes, its a question from my own course notes…
Thank you sir. While we’re on the subject, do you have any lectures regarding financial instruments?
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