i know that for available for sale securities, under GAAP, unrealized gains and losses are reported in comprehensive income under shareholder’s equity (skipping the income statement) however, under IFRS, i’ve been reading different views, but do the unrealized gains and losses get reported in the income statement in IFRS? thx
Unrealized G/Ls are not recorded in the I/S under IFRS, it is just a direct charge to equity. However, FX gains/losses resulting from the change in AFS market value will be recorded on the I/S.