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June 2015 Exam question 3)
Hi sir, for transaction (iv) regarding the investments held through profit or loss. Shouldn’t they be classified under current assets since their held through profit or loss? But why is it classified as a non-current asset in the statement of financial position ?
I am not aware of any link that says that Investments (financial instruments) held at fair value through profit or loss had to be classed as current rather than non-current!
Income from these investments and any gain or loss on disposal will be taken through profit or loss, but does that mandate classification as current? I think not
Can you point me in the right direction please?
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