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Hi
Does it go to SOCE? like in General reserve or what is the entry?
For example
PFTY = $ 27,280
(-) loss on FV of Equity fin asset investment ($1,300)
TCI= $25,980So in SOCE
RE
bf (as per tb) $6,500
PFTY $27,280
C/f: $33,780So how do i account for the loss
Thanks!
Hi,
The loss is recognised through other comprehensive income, and this then feeds through to an other component of equity in the statement of changes in equity.
So, your presentation above is correct for the SOCIE, you would just need an additional column for other components of equity that shows the loss of $1,300.
Thanks
Thanms
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