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Hi mike,
I’m happy with how to calculate the adjustment and how it effects the NCI. But could you tell me how I identify where to make the adjustment in the parents records please – I’ve seen it in retained earnings in some questions but OCE in others.
Many thanks for your continued support
Hi Robert
There appears to be some doubt about this! Take heart in the fact that this one problem is not going to be a deal breaker in terms of pass / fail results at P2
Personally I’m inclined to include within the parent’s statement of profit or loss – it’s a profit achieved on the sale of an investment.
But I cannot remember ever being asked in a P2 exam for production of the parent’s results
Sorry to be non-specific
Thanks for reply Mike. where is the adjustment included in the consolidated records?
Sorry mike I might have confused you. Is the adjustment of parents equity made in RE or OCE in the consolidated records?
I would have thought that it would be through other comprehensive income … but I’m not 100%!
Going back to your question about where it will go within the parents OWN records – on reflection, I don’t think it does appear it he parent’s records
Thanks Mike, yes I’ve seen questions where the adjustment is in OCE and some where it is in re. Thanks for your reply
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