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Hello Stephen, well done.
When consolidating, do we stick to the practices of the Parent Co. For example if by practice the Parent Co charges gains or losses on revaluation of non current assets to cost of sales. Do we take any gain to cost of sales as per the practice or we apply IAS 16 treatment of taking them to OCI? ThanksAll gains on revaluation must go to OCI. If the parent puts them in the P&L, it will go to prison!
So – OCI always.
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