Which statement is not correct about non-strategic investments?
A)IFRS carries FVOCI investments at fair value.
B)IFRS records unrealized gains and losses on FVOCI investments to OCI.
C)ASPE records unrealized gains and losses on FVPL investments to OCI.
D)ASPE does not have an accounting treatment for FVOCI investments.

Question

Quizplus · Accepted Answer

Under ASPE (Accounting Standards for Private Enterprises), unrealized gains and losses on FVPL (Fair Value Through Profit or Loss) investments are recorded in the income statement, not in OCI (Other Comprehensive Income). This makes option C incorrect as it inaccurately states that these gains and losses are recorded to OCI under ASPE.

Which Statement Is Not Correct About Non-Strategic Investments