Where do you Post Non-Investment Property Gains & Losses under FRS 102?

Most gains/losses should normally pass through profit or loss (Income Statement), unless they are required or permitted to pass directly through reserves.

Those items likely to be shown in Other Comprehensive Income or the separate Statement of Comprehensive Income include:

  • unrealised surplus/deficit on revaluations, other than investment property;
  • currency translation differences, other than trading transactions, which are taken directly to reserves (usually arise in consolidated accounts).

The tax effect of any gains/losses must be shown for each item of Other Comprehensive Income, either separately on the face of the primary Income Statement and in the taxation notes to the financial statements.


For more on Common Errors that often arise in FRS 102 Accounting – see our webinar called Common Errors in FRS 102 Accounting

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