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Hi Mr Mike,
I am trying to solve this question in Kaplan revision kit and I got very confused now. Why is the share capital in their answer shown as (20,000+16,000)?!! This 16,000 is the shares acquired in S which is (24,000 /3 * 2) but didn’t we learn that only the Parent’s share capital is what appears in the final consolidated SOFP? I am confused here.
Also, as per equity accounting, when there is an associate and a sub as well, we are supposed to consolidate the associate, are we in this question consolidating the associate? I mean we have only included its profit and we showed it as an investment in the balance sheet, Shouldn’t we add up its Assets, liab etc..? I understand that most likely we don’t have control in an associate case, yet equity accounting says that we should consolidate it when there is a sub owned as well, did we consolidate it in our answer here? and if not, why didn’t we consolidate it, equity accounting does say that it should be consolidated it in such case, doesn’t it?
Thanks a lot Mr Mike.
Maha
Hello – Just wanted to update that I have already figured out the answer to the first part of my question, which is that we simply issued more shares in the parent company as a consideration and that’s why we recorded them. It is not a recording of the shares acquired in the sub (which is what mainly confused me earlier) but it is a recording of issue of shares.
Maha
Hi,
Where can I find questions for 2003-2006 years?
Thanks
Why would you want them!??? Surely the last 12 exams should be enough for you
Hi Mike,
I could not find here the video??.
Please visit the support page: http://opentuition.com/support/ for help
in Kalpan revision i dont understand why the share capital and premium has added 16000.
Where did that 16000 come from????
the video here at 36:22….. thats the 16 i was asking abt. plz help me
@sdandbd, It’s the number of new shares which Hapsburg issued on the acquisition of the subsidiary. They’re the 16,000 shares in the working 2 when calculating the cost of the investment
@MikeLittle, Thank you. You really helped.
🙂
@sdandbd, You’re welcome
This lecture is all over the place with his workings not impress with him.
@harminder, luckily for you, you can download the past exam and do it all by yourself 🙂 you don’t have to watch this lecture
I am using a bpp textbook and unfortunately I can not find this question
its not also in acca website.