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For part b ii) of the question there is a note stating “Even though the associate was the seller for the intragroup trading, unrealised profit is adjusted in the parents column so as not to multiply it by the group’s share twice”. I cant understand what do they mean by multiplying it twice and when? Could you explain this with and example.
Thank you
Don’t know.
PUPs are really FR (apart from deferred tax). PUPs with associates are not at all important as there is no agreed rule.
You won’t be preparing an entire P&L.
If you get one, which you won’t, calculate the PUP, multiply by group % and reduce associate profit by whatever you’ve calculated.
THREAD HEADER SHOULD BE ASSOCIATE PUP
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