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<cite> @tandi said:</cite>
Wasn’t the fair value BELOW it’s carrying value (3000)? Is this still taken as positive figure like above? If it is then got it wrong.I can’t believe I am doing this. I will see the result in August, lol.
Unfortunately not, the Carrying value will have to be reduced to the fair value, therefore taken away – I made the same mistake and took it as a positive figure!
<cite> @kriselda said:</cite>
it says that for every share 1000 shares it acquired issued 100 loan note he has acq. 20000×75% x 2/5 as it stated in the beginning that for every 2 shares it acq from subs he issued 5. anyway wish you good luckI see where you’re coming from, however do we not acquire 15,000 of the subsidiary shares as we acquired 75%? Therefore would the calculation not be based on the 15,000 shares we have acquired? I think the 2 shares for every 5 is referring to how much we give to the subsidiary in return for the 15k shares…
<cite> @yando said:</cite>
This is what I did too..I think we should pick up at least 2.5/3 marks from this depending on how marks are allocated, so it’s not all bad!
<cite> @shery92 said:</cite>
I prepared really well for subsequent events, revenue recognition, frame work etc but was that asked ? ummm NO ! two of the rarest IAS come up as Q4 and Q5, on top of that the weird adjustments in Q1 and Q2 threw me off the tracks. Not even the slighest bit happy about my attempt hope I’ve done enough to get just a pass mark.Yeah I agree, some of the adjustments in Q1 & Q2 were rather odd, which ones in particular did you find difficult?
<cite> @donizback said:</cite>
Hopefully bro, same for me I had this point corrent but some other might be wrong my SOFP didnt balance 😀 anyways best of luck hope you pass 🙂Best of luck to you mate!
<cite> @kynhonglongbong said:</cite>
FV adj is (3000) not 3000
and Pre acquisition is (4000+2000) = (6000)
total of FV of NA is 11000I think the wording of note 1 threw me off and I don’t have a clue why I added the 3000! Still, only 2/3 marks lost on that calculation at max, should get some carry over marks and marks for calculating consideration
<cite> @donizback said:</cite>
Bro the pre acquisiton Retained Earning will include this year’s 6/12 profit as well so unfortunately you are wrong 🙁Unfortunately so, but hopefully should pick up a few marks from the consideration and NCI workings! (touch wood)