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Yeh I remember equity+liability being something like 18o____. Contingent liability I accounted for but I think you have to pay attention to when it was, either at acquisition or after?? For ratio questions you get a mark for each pair of ratios correct, so one mark for X6 and X5. + marks are available generously for commenting on each additional point in the question so the additional contracts won etc etc aslong as it makes sense you get a mark
‘In addition, do you consolidate the revaluation surplus of both parent and sub and if so, does any go to NCI’
there was no revaluation surplus. changes in fair value get accounted for in RE and the counter effect is the change in value on the asset/liability. Mayybe the equity investment has a revaluation reserve but thats it
took the exam in Leicester UK CBE got the question on cheese. overall section A and B were very hard and section C was relatively good. Managed to get consolidation to balance. Took share exchange as investment in sub from parent account as said it had been correctly accounted for. Also made adj for profit on inventory as it said current balances were cleared so recievables and payables were correct but profit still needed to be removed from inventory?