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ACCA December Exams

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    • Hi, welcome to OpenTuition

      Sadly, the video lectures are not downloadable – it”s the only way that we can keep the site free – but you can always post on the Ask ACCA Tutor if you have any particular question and I shall get back to you

      OK?

    • It’s very possible that there will be an associate as well as a subsidiary but it’s highly unlikely that there will be an associate with no subsidiary

      So, parent with subsidiary or parent with subsidiary and associate

      But not parent with no subsidiary but with an associate

      OK?

  4. Hi mike, just to say im loving this site.

    I have studied AAT and i did Financial Statements Exam that cover iAS cash flows, consolidated acounts etc. when studying Consolidated accounts i would do the following working. i would be interested in getting your thoughts on the below workings.

    W1 – goodwill At acquisition
    investment X
    Share capital Acquired (P share of S share capital at acquisition (X)
    Retained Earning Acquired (P share of S Retained Earnings at acquisition (X)
    Other reserves acquired (P share of S reserves at acquisition (X)
    Revaluation Adjustment attributable to parents ( p share of difference between fair value and book value net assets at acquisition date (X)

    = Goodwill at Acquisition

    Goodwill at acquisition X
    Impairment of GW (x)

    = GW in group SOFP X

    W2 – NCI
    share capital attributable to NCI (NCI share capital at period end) X
    Retained earning attributable to NCI Share at period end ) X
    revaluation reserves attributable to NCI (at period end) X
    revaluation adjustments attributable to NCI X

    NCI in group SOFP X

    W3 – Retained Earning
    100% Parents retained Earning X
    P share of S post acquisition Retained earning X
    Impairment of Goodwill (X)

    Retained Earning in group SOFP X

    This is how i did it for AAT, i understand F7 is a step up, so i am keen to understand your thoughts on the possible issues with the above.

    Thanks Mike

    • When the market value of British Telecom shares changes (on a daily basis) can you please tell me what affect that has on the value of British Telecom’s property, plant, equipment, motor vehicles, receivables, balance at bank …….

    • Have you tried one of the specimen exams for F7 – you’ll find them on this site?

      If you have, you’ll see the typical split of theory / practical elements

      And if you haven’t, then you should because then you’ll see the typical split of theory / practical elements within the exam!

  10. I really appreciate your efforts. I missed some of the lectures of Consolidation during my regular classes and I was quite worried about that but fortunately open tuition has made my life easy. Thankyou mike, you are really helping out a lot of students.

  14. what if the subsidiary has a loss in its profit and loss account?
    what if the subsidiary has retained loss in its financial position?

    relating to the above, how should i calculate the goodwill and consolidated retained profit/loss?

    • What’s the problem? “Retained earnings at date of acquisition” means ….. retained earnings at date of acquisition!

      If that’s negative, then put it in as a negative!

      I really don’t see what your problem is

      Does that answer you?

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