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Is there any list of when things will go to other comprehensive income
When they can be recycled, when they can’t be
And specific cases when part will go to comp income and balance to p&l
If there’s a compilation of such, it’ll be very very helpful.
Thanks a lot
Hi,
Good question. Let’s see if we can come up with a list. So to get things started what do you think goes into OCI? Don’t worry about any recycling for now, we can deal with that once we get our list started.
Thanks
Hey,
Meanwhile I just asked my friends the same question and one of them came up with this:
Recycle :
H- hedging
E- exchange – translation g/l on subsDon’t recycle :
A -actuarial – pension remeasurement
P – PPE revaluations
S – strategic equity- FVOCI financial assets g/lCan you please confirm the accuracy? And weigh in with elaboration or further comments?
It makes a nice mnemonic ‘HEAPS’.. 😛
Hi,
Correct, it does make a nice mnemonic but I always feel that we remember the mnemonic but then struggle to remember what all of the letters stand for.
Also, you have the ‘H’ for hedging but then what does that equate to with regards hedging?
If it works and helps you remember what goes in OCI then please don’t let me stop you doing so.
Now you’ve successfully answered the first part of you initial question (well done by the way!), on to the second aspect. Which of those items can then be reclassified and which can’t? I’ll give you a clue in that two can and three cannot. Let me know how you get on.
Thanks
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