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Items that may be reclassified to profit or loss vs those that will not be

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › Items that may be reclassified to profit or loss vs those that will not be

  • This topic has 1 reply, 2 voices, and was last updated 1 year ago by Stephen Widberg.
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  • October 26, 2023 at 8:23 am #694009
    muhammad624
    Participant
    • Topics: 9
    • Replies: 9
    • ☆

    Hello Sir,

    Could you please give me a list of those items that may be reclassified to profit or loss together with those that will not be reclassified to profit or loss.

    If you can also guide me on how to know which items goes where

    Thank you sir

    October 26, 2023 at 8:32 am #694010
    Stephen Widberg
    Keymaster
    • Topics: 16
    • Replies: 3422
    • ☆☆☆☆☆

    WILL BE RECLASSIFIED

    1. Revaluation gains in FVOCI debt instruments (NOT equity instruments)
    2. Cash flow hedges
    3. Cumulative exchange differences on disposal of foreign subs

    WILL NOT BE RECLASSIFIED

    Anything else that goes to OCI – revaluations of PPE and FVOCI equities, remeasurement diffs on pensions etc

    On reclassification it will go in a sensible place in P&L – eg investment income if it relates to an investment

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