OCI and Recycling

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jkaueb
Posts: 5
Joined: 06 Jun 2022, 21:39

OCI and Recycling

Post by jkaueb »

I cannot understand what is recycling in OCI, for example, a gain that is recognized initially in OCI , to be recognized subsequently in Profit or Loss.
JRSB
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Joined: 01 Mar 2020, 01:10
Location: UK

Re: OCI and Recycling

Post by JRSB »

"When an item is reclassified from OCI to P&L it impacts both statements and such a reclassification is referred to as a reclassification adjustment. A reclassification adjustment is defined as the amount reclassified to P&L in the current period that was recognised in OCI in the current or previous periods (IAS 1.7). Entities must disclose the amount of such reclassifications, either by presenting them gross in OCI or in the notes. See paragraphs IAS 1.92-96 for more discussion.""

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