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Boo, zippy and Ginny SOCI Sept/ June 2016

Forums › ACCA Forums › ACCA SBR Strategic Business Reporting Forums › Boo, zippy and Ginny SOCI Sept/ June 2016

  • This topic has 1 reply, 2 voices, and was last updated 7 years ago by tayyabom.
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  • May 19, 2017 at 10:22 pm #387072
    littlemiss1
    Member
    • Topics: 3
    • Replies: 11
    • ☆

    Hello Tutor

    Was wondering if you could shed some light on an examination question

    My query relates to Boo, ZIPPY AND GINNY (Q1 2016 Sept/ Dec) (consolidated SOCI)

    I managed to complete the statement and most of the adjustments…

    But when I looked at the answer , the examiner had a weird way of adding up the statement

    In the examiners answer – theyve put each adjustment under the reporting entity , including the impairment of goodwill

    The goodwill was calculated on using FV ( full goodwill method) – so I assumed that split the Impairment between the parent and NCI…. Unless I’ve completely

    However on the foot of the statement in the NCI working , it doesn’t seem to take into account the NCI share of Impairment of goodwill

    The impairment was actually included within the COS for the subsidiary , then the figures were added together with the parents to consolidate the Financial statement

    So on the face of the SOCI, impairment loss has been included and consolidated…

    but then I thought we calculate the NCI share at the foot of the statement and such % of impairment is deducted from the NCI PFY

    Have I missed something ?

    Hope I’ve explained it well enough ..

    August 17, 2017 at 12:25 am #402137
    tayyabom
    Member
    • Topics: 0
    • Replies: 172
    • ☆☆

    Hi,

    Are you referring to Boo’s goodwill impairment by 10%? This subsidiary’s goodwill was revised to $18m and 10% impairment ($1.8m) was charged to SPL under Other expenses.

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