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FA Chapter 22 Questions Group Accounts The Consolidated Statement of Financial Position (1)
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is there any chances of acquiring of 50%,80% or something else
Yes – it can be any % (more than 50% for it to be a subsidiary). Have you watched the free lectures on this?
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Thank you for your comment 馃檪
Thank you so much Sir…
Really understandable, thank you.
Thank you for your comment 馃檪
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Thank you for your comment 馃檪
So simple following the lecture.
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Great 馃檪
Thank you Mr. Moffat. I got 100%
I got all answers right!! Thank you, Sir John Moffat!
Dear Mr Moffat,
Can you please show us example for calculation of goodwill when the acquired company has negative equity?
Thank you
Benny
What on earth for? There would be no relevance at all for Paper FA.
Thank you so much Mr Moffat you are so clear in your presentation.
In Q4, why isn’t the fair value adjustment incorporated in your given solution?
Because it is related to calculation of goodwill. It is a “trick” amount, given on purpose to make you think it is relevant. Retained earnings are calculated ALL of P’s + (Retained earnings of S – Pre Acquisition Retained Earnings).
Sorry to bother again, I normally do 4 workings when it comes to group accounts, working 2 is Net Asset where add all pre-acquisition figures such as SC + RE+ NCI value at the acquisition date only to work out the Goodwill calculation, for Retained earnings “Working 5” i take the difference between pre and post acquisition percentage of holding (here 100%) plus parent earning to get the total group retained earnings.
You are correct, but again you have not said what question you are referring to and I have already explained about the fair value adjustment.
Again, have you watched the free lectures?
Am I missing something? I thought fair value adjustment should be included in the consolidated statement of financial position!!!
I do not know which question you are referring to.
However it seems that you are missing something – the fair value adjustment does not appear separately in the SOFP. The value non-current assets in the consolidated SOFP is adjusted by the fair value adjustment, and it is taken into account in calculating the goodwill arising on consolidation.
Did you watch the free lectures before attempting this test?
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Thank you for your comment 馃檪
I got all answer right. Thank you Sir John Moffat. Your technique about pre-acquisition,Good will arising are awesome and Easy. I think by using your this technique i will never be problem with pre-acquisition and good will arising in my life.
Dear John,
What does it mean in Q2 ” the first value of non-current asset was 15K more then their carrying values”?
i could not get it
Sorry – it is a typing error and I will have it corrected.
It should read ‘the fair value’ (not ‘the first value’). Obviously the relevant of ‘the fair value’ is explained in the free lectures.
Thank you for bring the error to my attention.
Got it.
Thank you so much for your help full and advantageous Lectures,Notes and comments. I learnt a lot.
Thank you for your comment 馃檪
I got all right!!!!!
Congratulations 馃檪
I can’t see any questions
The test is working fine – try again 馃檪
Thank you so much Mr Moffat you are so clear in your presentation ??