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Recycling gains and losses

This topic has 1 reply, 2 voices, and was last updated 6 years ago by Stephen Widberg.

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November 25, 2019 at 3:51 pm #553724
alikhakar
Participant
- Topics: 186
- Replies: 79
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
November 25, 2019 at 4:24 pm #553728
Stephen Widberg
Keymaster
- Topics: 17
- Replies: 3444
Both 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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