Available-for-sale classification under IFRS


As far as I understood (do correct me if i’m wrong), AFA securities under IFRS can be classified under P&L or OCI but once the choice is made it is final. Now, does that apply to prefered stock if it is reported under P&L?

Would appreciate if someone can help me with this, thanks.

So any financial security under IFRS can have an irrevocable choice made to be carried under fair value through profit and loss, which I think is what you are getting at here. So most AFS securities (GAAP, which corresponds to fair value through OCI in IFRS) could be reclassified to fair value through p&l, and the choice is indeed irrevocable once made.

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