Dear Tutor,
Is the gain in retranslation of non-monetary asset carried out at fair value recognised through SoPL or as an OCI?
Ask the Tutor ACCA SBR
Gain on translation of Non monetary asset
8y ago#1Hi,
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
Sign into reply to this topic.