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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › retained earnings
Why are retained earnings not adjusted if an item of plant is found to have a fair value of 3000000 below its carrying amount
In what context is this? Group accounts and fair value adjustments?
group accounts and fair value adjustments
It is a group adjustment made in the NA working. The adjustment is then reflected on the face of the Group SFP, a reduction to PPE, and then the parent receives its share of the change in the post acquisition retained earnings.