IAS 28 PURP

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November 13, 2022 at 8:15 am #671340
Varun.J.Thakkar
Participant
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When parent is seller we make the following
Entry
DR COS
CR Investment in associate
When associate is seller
Dr Share of profit in associate
CR Inv
Sir can you pls explain the understanding behind these 2 entries?
Especially why investment in associate is credited?
I very well remember in FR the entry was
Dr share of profit in associate
Cr Investment in associate
WHATEVER was the direction of sale
Kindly tell..thanks
November 13, 2022 at 6:34 pm #671374
Stephen Widberg
Keymaster
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This is an FR topic, not SBR. Please refer back to FR lectures. There were different treatments depending on who made the sale.
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