How will be the reclassification to SOPL from OCI occur?
Suppose there's a gain on translation of foreign subsidiary in Other comp of equity that we need to reclassify on disposal of that subsidiary.
Do we directly do:
1-
Dr. OCE
Cr. SOPL
2- Or through OCI
Dr. OCI
Cr. SOPL
you can just answer 1 or 2 to save time. Thanks
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Recycling gains and losses
6y ago#1Both journals are correct
The exciting thing is that a gain or loss previously reported in OCI will now appear in the P&L directly impacting EPS
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