In October 2008 the IASB changed the rules for financial assets so that,under certain circumstances,the assets could be reclassified to avoid charging mark-to-market losses to the income statement.

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This statement is true. The IASB did make changes to the rules for financial assets in 2008 that allowed for reclassification under certain circumstances to avoid mark-to-market losses being charged to the income statement.

In October 2008 the IASB Changed the Rules for Financial