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Hi there Sir
In your newly recorded lectures during the chapter financial assets liabilties etc.
You told us that there is no longer any reclassification of items from equity to SPL ?
So any questions in our BPP kit which have mark scheme answer indicating that transfer
We should ignore it? right?
I think you are referring to sale of FVOCI instruments.
Equity – no recycling of gains or losses from equity to P&L. (There is still a reserve transfer to RE but that’s not the same as it doesn’t affect EPS etc, so, in this syllabus it’s regarded as rather dull. :))
Debt – gains or losses are recycled.
Okay so if a debt instrument is carried through FVOCI then its gains and losses will be recycled?