Gain on translation of Non monetary asset

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January 29, 2018 at 9:16 am #433765
aamir2111
Participant
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Dear Tutor,

Is the gain in retranslation of non-monetary asset carried out at fair value recognised through SoPL or as an OCI?
January 29, 2018 at 10:40 pm #433910
P2-D2
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Hi,

If the fair value has changed then the updated fair value is retranslated. The treatment of the gain/loss follows that of the classification of the financial instrument, so if FVTOCI it will go through OCI.

Thanks
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