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Associate in Group Accounting

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › Associate in Group Accounting

  • This topic has 2 replies, 2 voices, and was last updated 8 years ago by Eunice.
Viewing 3 posts - 1 through 3 (of 3 total)
  • Author
    Posts
  • August 1, 2016 at 7:40 pm #330740
    Eunice
    Member
    • Topics: 5
    • Replies: 4
    • ☆

    Greetings Sir

    With reference to Example 2 of the Lecturer’s Notes under Associates and Joint Ventures, I need to understand why the Lecturer’s answer regarded the acquisition of Antonas as an associate instead of a subsidiary since Jonas acquired it at 100% interest (the whole), I answered the example with confidence that it is a subsidiary, isn’t that an associate is when an entity’s interest is <50 (smaller than 50%)? to my understanding Antonas is a wholly owned subsidiary by Jonas!

    Please clarify me.

    August 4, 2016 at 11:59 am #331400
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7171
    • ☆☆☆☆☆

    Hi,

    You’ve missed the key piece of information in that it was Jonas and 5 friends who bought all the shares, so therefore Jonas owns 1/6th of the entity and has influence.

    Thanks

    August 16, 2016 at 7:13 pm #333669
    Eunice
    Member
    • Topics: 5
    • Replies: 4
    • ☆

    Thank you Tutor, I really missed that key piece of information. I am now fine with your respond.

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