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Provision for unrealised profit from associate

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Provision for unrealised profit from associate

  • This topic has 3 replies, 2 voices, and was last updated 10 years ago by MikeLittle.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
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  • March 22, 2015 at 4:11 pm #233675
    drice99
    Member
    • Topics: 52
    • Replies: 78
    • ☆☆

    Hi mike

    Last question of the day!

    Page 64 says that the elimination of the unrealised profits is always in the associates soci. Does this mean you deduct it from the associates profit after tax before calculating our share (in W3)?

    March 22, 2015 at 6:36 pm #233685
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23331
    • ☆☆☆☆☆

    Yes. The publishers do it “technically” correctly and deduct the group’s share from the parent where it was a sale by the parent

    It’s just easier always to deduct from the associate. Consolidated retained earnings is the same whichever way you do it!

    March 22, 2015 at 6:47 pm #233687
    drice99
    Member
    • Topics: 52
    • Replies: 78
    • ☆☆

    Thanks Mike!

    March 22, 2015 at 8:05 pm #233691
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23331
    • ☆☆☆☆☆

    You’re welcome

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