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IFRS 9: Equity instrument (FVTOCI)

Forums › ACCA Forums › ACCA SBR Strategic Business Reporting Forums › IFRS 9: Equity instrument (FVTOCI)

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  • March 1, 2022 at 6:59 am #649537
    mmmhhh
    Member
    • Topics: 4
    • Replies: 0
    • ☆

    Hi,

    Investment in equity instruments (FVTOCI):

    Q1) Must fullfill both of the followings?
    Not held for trading;
    AND held for the long-term

    Q2) Derecognition of the Equity instrument (i.e: shares were sold)
    Which method is correct?

    Method 1
    Gain on disposal of shares 3k:
    1) Dr Cash 3k, Cr SPL 3k
    2) A reserve transfer: Dr OCI accumulate gains, Cr Retained earning

    Method 2
    Gain on disposal of shares 3k:
    Dr Cash 3k, Cr OCI 3k
    OCI – Do nothing. Accumulate gains stay in OCI.

    Any assistance you can provide would be greatly appreciated!

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