accounting for associates

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July 23, 2018 at 1:35 pm #464356
dtaderera
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do we apportion profit on time basis in accounting for associates if the time of the union is less than a year before ending of accounting period or we just split profit based on % owned?
July 23, 2018 at 10:24 pm #464408
P2-D2
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Hi,

We equity account from the day we gain significant influence, so If we acquire the associate mid year then we will pro-rate the profits and then take our share of these profits.

Thanks
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