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Dear Sir,
Why we don’t need to calculate the P’s % of subsidiary when doing impairment on sub?
Thanks
Hi,
We control the subsidiary and have consolidated it in full, therefore the carrying value is the entire value of the subsidiary and so we don’t need to take P’s%.
Thanks
Please, how do account for the impairment in associates? Will it be to DR- GOODWILL & CR- RETAINED EARNINGS. since there’s no NCI in Associate.
Hi,
If the review leads to an impairment then we would DR Retained Earnings/Share of Profit of Associate CR Investment in associate.
Thanks