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ACCA P2 Foreign currency – Group accounts
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Why foreign currency exchange differences has been adjusted in the consolidated retained earning of the group. It should be Shown under equity directly in the face of SOFP not inside Retained earning working
Hello sir,
I just need clarifications.
In a textbook I read, ‘gain or loss on goodwill’ was added to retained earnings instead of ‘gain or loss on investment’ just the way you did it.
dear sir plz explain on what if “Gain on investment ” should we add n RE?
Dear Sir
I have two doubts here:
1. Since there is an adjustment made in SFP on the fair value adjustment of PPE and Group RE, why the difference in depreciation is not being reflected in SPL?
2. Based on the calculation, there is a foreign exchange loss on investment, and it has beed reflected in Group RE as well, why this loss is not being reflected in SPL?
Please advise.
Thank you.
The first one was non depreciate land so there is no depreciation to be reflected in SPL.
for Loss through OCI watch the next video – Gain or loss on translation of the overseas subsidiary
Dear Lecturer,
Quick question: Is my understanding correct that the adjustments of retained earnings due to FX fluctuation in the investment are not P&L effective? I was wondering what the accounting entry would be for that specific occurrence.
Kind regards
Nevermind, it’s explained in the next chapter 馃榾
Hi…i hv seen other resources which mentioned that share capital, fb adj, Group RE pre acq has to b retranslated to HR and not CR. Need clarification, thankd