Answered Questions

Date Submitted	11-Jul-10
Category	Financial Accounting & Reporting
Heading	CLP Page 51 Unit 2
Question	AFS financial assets, the difference between its original cost and fair value is recorded in the equity account as it is a equity instument. why the cumulative loss that was recognised directly in equity is removed from equity and recognised diretly in the statement of comprehensive income? is that happening at sale date?
Answer	No, it is happening when the impairment is recognised.