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Good Evening Sir,
I do not understand the part 9:30 in this lecturing video:
https://youtu.be/HJ2GxPkyTbsWhy was the (11) exchange loss on goodwill added into Group Retained Earnings?
(In the forthcoming video and in the lecturing notes it is said that gain or loss on translation of the overseas subsidiary (Opening NA + Profit of the year + Goodwill) are recognised in OCI.)
Thank You very much!
Technically should be in OCI and an FX reserve.
From an exam point, you might use the word ‘reserves’ or ‘equity’ because of time pressure.
I would not worry too much about reserve accounting at this level.
All that matters is that you can calculate the XD and say why it arises.
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