Following a change in business model, a portfolio of bonds of Fort SA, carried at amortised cost for 1,000,000, is reclassified. At the reclassification date, the fair value of the portfolio is 1,045,000. Calculate the difference between fair value and carrying amount. The accounting treatment of that difference is not asked.
- Carrying amount before reclassification
- 1,000,000
- Fair value at the reclassification date
- 1,045,000