FRA Topical test-Turner-2 of 6- equity securities were eligible to be designated as investments at fair value

[h21]

FRA Topical test-Turner-2 of 6-

the question asks equity securities were eligible to be designated as investments at fair value

What does this even mean , can available for sale be designated as other way??? can someone explain the question to me

[JayWill]

Under IFRS, Designated at Fair Value is essentially Held for Trading (both fall under the category of Fair Value Through Profit or Loss) and follows the same rules regarding realized/unrealized gains and losses and income, so the AFS securities on the list could have been designated that way when acquired thus unrealized gains and losses need to be accounted for when calculating the contribution to net income for the portfolio.

[h21]

@JayWill

Under IFRS, Designated at Fair Value is essentially Held for Trading (both fall under the category of Fair Value Through Profit or Loss) and follows the same rules regarding realized/unrealized gains and losses and income, so the AFS securities on the list could have been designated that way when acquired thus unrealized gains and losses need to be accounted for when calculating the contribution to net income for the portfolio.

oh wow, where was this mentioned, and also besides AFS, what else can be assigned to as held for trading?