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
Ask the Tutor ACCA SBR
Items that may be reclassified to profit or loss vs those that will not be
2y ago#1WILL 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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