Totnes - ACCA SBR Question - Spreadsheet Exercise 3 - CF

Totnes is a public company with a year end of 31 December 20x6. The company has several subsidiaries.

Requirement

Adjust the spreadsheet for the three transactions listed below. Then compare your answer to the model answer.

Transaction 1

During the year, Totnes purchased an associate for cash and paid a dividend to NCI. The total of both amounts was shown as the purchase of an associate in error. NCI in the opening and closing CSFP was $500m and $600m respectively. The NCI share of PAT was $200m, and the NCI share of TCI was $250m.

Transaction 2

A gain on the revaluation of an investment property of $200m has been credited to other components of equity in error.

Transaction 3

A new defined benefit pension plan has been incorrectly treated. The draft financial statements show an expense in the profit and loss account of $20m, which represents contributions paid. The service cost was actually $25m. The net interest cost was not material. The remeasurement difference was $8m.