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September 9, 2020 at 3:05 pm
Not part of this question , pls help me if any one knows how to account
If S`s is constructing a building for P and S`s keeping 20% mark up on their actual money they spend including labor cost, material and other OH
August 29, 2020 at 5:00 am
in the illustration, isn’t unrealized LOSS=25? NOT unrealized profit =25. Am i correct?
August 29, 2020 at 5:06 am
nevermind. i was just checking if the comment section actually works 😛
August 31, 2019 at 8:48 am
(i) The fair value of the non-controlling interest in Smooth Co at 1 January 20X8 was deemed to be $3.4m. The retained earnings of Duke Co in its individual financial statements at 30 June 20X8 are $13.2m. Smooth Co made a profit for the year ended 30 June 20X8 of $7m. Duke Co incurred professional fees of $0.5m during the acquisition, which have been capitalised as an asset in the consolidated financial statements.
(ii) The following issues are also relevant to the calculation of non-controlling interest and retained earnings:
– At acquisition, Smooth Co’s net assets were equal to their carrying amount with the exception of a brand name which had a fair value of $3m but was not recognised in Smooth Co’s individual financial statements. It is estimated that the brand had a five-year life at 1 January 20X8.
– On 30 June 20X8, Smooth Co sold land to Duke Co for $4m when it had a carrying amount of $2.5m.
NCI 20% This question appeared in Sept/Dec 2018
As per the ACCa answer,
NCI at acquisition 3,400 NCI % S’s Net Assets at Acquisition Profit 3,500 FV dep (300) URP (1,500) 340 NCI 3,740
My doubt is, why is URP taken as part of net assets at acquisition, shouldn’t it be included in S’s net assets on the reporting date?
August 31, 2019 at 8:45 am
NCI % is 20% This question appeared in Sept/Dec 2018 —
As per ACCA Answer:
NCI at acquisition
June 5, 2019 at 8:54 am
can somebody show the answer of the example 7? I can’t get it balance.
January 25, 2019 at 2:04 pm
what would be the accounting treatment if the parent invests in subsidary’s loan stock
January 14, 2019 at 2:29 pm
The illustration of unrealised profits on page 92 in the notes seems incomplete so will it be completed or updated anytime soon??
January 14, 2019 at 10:14 pm
The idea is that you copy down what is done on the video. It helps to write things down sometimes and can stop you from turning off!
January 15, 2019 at 7:37 am
Thanks for the tip it really helped. Any idea when the upgraded video lectures will be uploaded for march 2019 session??
October 24, 2018 at 3:01 pm
can smb please explain the example 7, particularly :
W2) Net Assets: PUP at reporting date in the amount of (10)
Does PUP of (10) means the intra-group profit that included in the inventory which remain at the year-end (half of the goods)?
September 18, 2018 at 11:58 am
example 7 was skipped
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