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first question – consolidation, I was completely thrown off by the deferred tax element in the calculation of the fair value of net asset . I’m not sure but I calculated the net assets as the carrying value of $30m plus the deferred tax liability (since I thought it should be reversed and so oci would increase thereby increasing net assets/equity and then i deducted the $2.14m and the additional loss of $0.5m to get the net assets, i wonder if anyone has calculated the same way. the acquistion of the property valued at fair value as per the investment property standard and it being an operating lease was kind of confusing as well for me, came back to it after completing the rest of the paper. everything else for me was fine I guess. hope to clear it this time.
