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Hi tutor,
I have q regarding full or part disposal when do we consider them? In otherwords if they occur on the year end ate should we consider them or they have to be taken place before the year end or whats the rules here?
Refering to kutchen q from june 15 exam in note 3 regarding acquiring niche. It has become a subsidiary for whole year from 1/4/2014 till 31/3/15 then at 31/3/15 it has been sold which is the year end date. So why we didnt cosolidate it as it was a subsidiary.
Plz clarify my misunderstanding
Thank u v much
Hi,
If it has been sold at the reporting date then we no longer control it and therefore we will no longer consolidate it in the group accounts. Therefore no assets/liabilities will be shown on the group SFP, whilst we still show the 12 months of revenue and costs on the group SPLOCI to show that we have had control for the full period to the year-end.
Thanks
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