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Stephen Widberg.
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Noah098
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sir my text states that equity instrument can be designated as FVOCI only if it is not held for trading and “there must have been an irrevocable choice for this designation upon initial recognition of the asset.”
So, is it right to say that if later on, after holding equity instruments for a while, an entity wishes to switch to FVOCI model then it IS NOT PERMITTED under IFRS 9?
Stephen Widberg
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Correct. Not permitted.
Noah098
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