Quote (Canadian_Man @ Jul 16 2017 11:28pm)
My complicated question finally got answered after a few hours of research and careful interpretation.
But here's a simpler one:
IFRS: A liability measured at FVPL goes through P&L. But the entry for a gain/loss at year-end is "Unrealized gain/loss on liability at FVPL". Usually, the term "unrealized" means it's going to hit OCI. Is the term "unrealized" almost always referring to OCI, except in the case of exceptions like FVPL? Is the entry essentially saying "Gain/loss that should be unrealized, but measured at FVPL instead"?
ASPE: Gains/losses on a liability at amortized cost goes to OCI per IFRS. Per ASPE, it just hits P&L right (since no OCI)? Or do you even recognize gains/losses the same at YE with ASPE?
didn't realize the context clue of your name that this was not american accounting.
e: like law, accounting is strongly dependent on the country.
This post was edited by Arcolithe on Jul 18 2017 07:06am