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chericheung

Profile picture of chericheung
Active 9 years ago
  • Topics: 2
  • Replies: 11
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Viewing 11 posts - 1 through 11 (of 11 total)
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  • June 9, 2015 at 3:46 pm #255580
    mysterychericheung
    Member
    • Topics: 2
    • Replies: 11
    • ☆

    Hi Mike,
    I think I’m going to ask you more questions in the following months:p. I just sat on P2 exam today. Those questions remind me of nealy every lines of your lectures even though i am not that confident to say that I made the working right. Pretty unsure. Maybe I need more practices on difference scenarios to have a clearer picture on each standard applications.
    Anyway, I still feel very very grateful to have such a skilful and interesting tutor around, helping me solve those complicated questions . “like” you one hundred times.

    June 7, 2015 at 8:08 am #254675
    mysterychericheung
    Member
    • Topics: 2
    • Replies: 11
    • ☆

    See. That makes sense. Thank you.

    June 7, 2015 at 8:06 am #254674
    mysterychericheung
    Member
    • Topics: 2
    • Replies: 11
    • ☆

    Thank Mike.

    June 6, 2015 at 3:39 pm #254523
    mysterychericheung
    Member
    • Topics: 2
    • Replies: 11
    • ☆

    Feel better. Why transfer the dividend from OCI to Retain earnings?

    June 6, 2015 at 3:29 pm #254520
    mysterychericheung
    Member
    • Topics: 2
    • Replies: 11
    • ☆

    May need some time to digest. Why it need to be reversed? Even though it was treated as acquisition event, it’s nature is still a liability.

    June 6, 2015 at 3:09 pm #254515
    mysterychericheung
    Member
    • Topics: 2
    • Replies: 11
    • ☆

    If the fair value adjustment happened at the date of acquisition, however, the value recognition come after the acquisition date. Say, subsidiary has a building with carrying amount of £2m, but the building is required a individual valuation so the valuation received after the acquisition date. In this case, fair value adjustment will be involved in Goodwill calculation. Right?

    June 6, 2015 at 5:10 am #254275
    mysterychericheung
    Member
    • Topics: 2
    • Replies: 11
    • ☆

    Hi Mike,
    Just to make sure. as in the question,will fair value adjustment of subsidiary’s assets affect the goodwill value at the year end?
    Thank you.

    June 6, 2015 at 2:17 am #254265
    mysterychericheung
    Member
    • Topics: 2
    • Replies: 11
    • ☆

    But here come a question. We are doing the consolidation, aren’t we? While consolidated, dividend from subsidiary n associate should be cancelled out to avoid double accounting. But in this question, dividend from Hail was still in group statement, purely transferring from OCI to Retained Earning. I don’t really understand this point. Where do I make a mistake?

    June 5, 2015 at 5:01 pm #253778
    mysterychericheung
    Member
    • Topics: 2
    • Replies: 11
    • ☆

    @mikelittle said:
    Because the consolidated retained earnings calculation working W3 starts with “H’s own (retained earnings according to H) ……” this is the retained earnings from the parent’s own records and they (should) include the dividends paid by the subsidiaries and the associates. If those dividends have not been recorded, then they need to be

    Ok?

    Not quite. What does “Retained earnings from parent’ own record” mean? Does it mention the individual record of the parent?

    June 5, 2015 at 11:57 am #253594
    mysterychericheung
    Member
    • Topics: 2
    • Replies: 11
    • ☆

    Hi Mike,
    I have a question here about the dividend payment from Sub & Associate.
    In 2012 Jun past paper, question 1 (1) Robby acquired 80% of Hail, and at the beginning of the year, Robby received 2m dividend from Hail. This 2m has been credited to OCI.
    In W3, Retained Earning Robby, “dividend from Hail 2m” was added to Retained earning of Robby.

    Why here include the dividend from subsidiary in Parent’s retaining earning? I don’t quite get it. Thank you

    June 3, 2015 at 9:39 am #252345
    mysterychericheung
    Member
    • Topics: 2
    • Replies: 11
    • ☆

    Much clear. Thank you.

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Viewing 11 posts - 1 through 11 (of 11 total)

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