Chapter 4, Problem 1DYS

In accordance with PFRS 9, an entity may reclassify  a. Derivatives b. Financial assets designated at FVTPL c.None of these d. incestments in equity instruments designated at fvtoci

1. PAS 28 defines an ‘associate’ as Choices An entity that controls one or more entities. An entity over which the investor has significant influence. A joint arrangement whereby the parties that have joint control of the arrangement have rights to the net assets of the arrangement. An entity that is controlled by another entity. 2. In accordance with PAS 1, which of the following gains or losses from reclassification of financial assets need not be presented separately in the profit or loss section or the statement of profit or loss?   Choices None of these. Reclassification of financial assets out of the FVTOCI measurement category to FVTPL. Reclassification of financial assets out of the amortized cost measurement category to FVTPL. Reclassification of financial assets out of the FVTPL measurement category.

Identify appropriate placements for the components of the non controlling interest in consolidated financial statements.