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June 2015 question 1 post acq. profits

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › June 2015 question 1 post acq. profits

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  • May 28, 2018 at 11:19 am #454376
    Candy
    Member
    • Topics: 135
    • Replies: 79
    • ☆☆☆

    Dear tutor,

    Can you please explain why we did not time apportion House post acq. profits in GRE(w5) even though it was acq. part way through the previous year?

    Many thanks in advance

    May 28, 2018 at 8:55 pm #454493
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7222
    • ☆☆☆☆☆

    Hi,

    We are given the retained earnings at the acquisition date, and so there would be no need to pro-rate the post-acquisition profits as they all relate to the post-acquisition period.

    Thanks

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