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Many thanks for the valuable resources you’re providing for all members of this forum. I have a question regarding the consolidation of the retained earnings, since you consolidate the part of the retained earnings that was accumulated after the acquisition date, then what will happen to the part was accumulated before the acquisition ?
the other question why we exclude the pre-acquisition part of the retained earning from the consolidated retained earning while it represent part of net equity we have paid our money for ?
great lecture just want to make sure i got this right, if the parent company has effective control of the subsidary then consolidated accounts are prepared but if they own more than 50% of shares but does not have effective control, what is the accounting treatment?
Presumably shown as at fair value as at the date effective control was lost – and then periodic impairment review
oh i see thanks
have got a problem with F7 lectures.
video keeps stopping.
help me to download the F7 lectures please. am able to watch but have failed to download.
Thanks for your lecture. But I have some quries . For example, If a partnership company start incorporate a new Ltd company with current partners and employees , do we need to prepare consolidated statement?
sorry retraction .I now understand ma mistake
thank you Mike.Then in example 1 for group acounts why are we not consolidating the recivables ,cash ,inventory for the parent and subsidiary because we only considered the parents figures.Or is that we add both after incoporation.I thought invery would be (8+4),cash (4-3)+1and Receivables(6+2).
i want to know that if preparing the interim statement if you are using the half year results of the subsidiary then for the parent company which results do you use .Is it also the half year results or the whole year.
If it’s interim acounts, then you must use the same – ie half year for parent as well as subsidiary.
If I have understood your question correctly!
very good lecture
What happens with the remaining 25% of the profit/revenue/assets.
That is quite material to the group?
@despina, Which question are you talking about?
@despina, First I must say the lecture is great. Thanks
I got a bit confused right at the end or the lecture. Reporting disimilar activities. The lecture ends with preparing group accounts until we reach minimum 75% of the profits or revenue or assets for the group. I would thing the remaining 25% is material to the qroup and has to be reported also?
@despina, I believe this has nothing to do with group accounts – this is segmental reporting.
the remaining <25% is shown as "the remainder" so no attempt is made to disaggregate the figure
For situaion of holding less than 1/2—-does the parent still prepare consolidated statements?
@nigs001, Only if they have ( effective ) control.
Control is the key so, even though the parent may own MORE than half the votes, if they no longer have control ( eg the subsidiary is in liquidation and therefore the liquidator controls it ) then the parent will not consolidate.
Under the new IFRSs, where a parent has effective control, then they should consolidate. So, if the parent owns say 40% of the voting power of the subsidiary and the remaining 60% is spread out over many other shareholders, then the parent has effective control.
Steve Scott is not likely to ask this in a numerical part of question 1 but could ask it within the ( say ) 5 mark written part b
I don’t get the $2,600 part. Where is it from?
@alextrunghuynh, Ah, nevermind. Got it!
that was a good lecture .Thank you very much .I believe in open tuition
it is quite perfect because the lecturers are knowledgeable
I agree, I was struggling and a co-worker told me about the site and I can say I am very grateful for the assistance, it brings clarity
thank you so much May God Bless you and the administration Amen.
Very Good Lecture. Thanks.
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