What is amount of unrealized gains and unrealized losses


Response to the following problem:

The Carrefour Group reports the following description of its trading securities (titled "financial assets reported at fair value in the income statement"). These are financial assets held by the Group in order to make a short-term profit on the sale. These assets are valued at their fair value with variations in value recognized in the income statement. Note 10 to Carrefour's 2008 financial statements reports €117 million in unrealized gains for 2008 and €63 million in unrealized losses for 2008, both included in the fair value of those financial assets held for trading.

What amount of these unrealized gains and unrealized losses, if any, are reported in its 2008 income statement? Explain.

Request for Solution File

Ask an Expert for Answer!!
Financial Accounting: What is amount of unrealized gains and unrealized losses
Reference No:- TGS02945776

Expected delivery within 24 Hours