Notes to the Financial Statements - HSBC Bangladesh
Notes to the Financial Statements - HSBC Bangladesh
Notes to the Financial Statements - HSBC Bangladesh
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Note 4.8 indicates a change in accounting policy as gains or losses on revaluation of HFT securities were previouslyrecognised in <strong>the</strong> profit and loss account, but now gains or losses on revaluation of HFT securities which have not maturedas at <strong>the</strong> balance sheet date are recognised in O<strong>the</strong>r Reserve as a part of equity. In accordance with BAS 8, AccountingPolicies, Changes in Accounting Estimates and Errors, Para 19(b) and 22(b) an entity is required <strong>to</strong> apply a change inaccounting policy retrospectively by adjusting <strong>the</strong> opening balance of each affected component of equity for <strong>the</strong> earliestperiod presented as if <strong>the</strong> new accounting policy had always been applied. As we did not hold any HFT securities as at 31December 2007, no retrospectively adjustment is required.