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Sir I have been practicing Extra MTQs given on Acca exam format .
And in Question 1 … I did not understand where is ”cash and cash equivalent at begining of the period” is taken from it does not match to what cash b/f balance is given in SOFP.Link for that extra MTQ question and its answer
https://specimen.accaglobal.com/flk.html
Your help will be much appreciated.
It is the net of the cash balance and the bank overdraft at the end of 20X6 (1,063 – 429 = 634)
Also Sir I want to ask you ”NCI will always feature within the consolidated financial statements” why is this statement not correct…. as far as i know when we make consolidated SOFP …the value of NCI calculated is mention on the face of statement in Equity section…
First question: a bank overdraft is simply a negative bank balance. Cash and cash equivalents include the net total of all cash and bank balances.
Second question: (Although please in future start a new thread when it is a different topic – our answers are for all students to benefit, and people search using the topic names.)
If the subsidiary is 100% owned by the parent company then there is no NCI.
Have you watched my free lectures on both these topics? The lectures are a complete free course for Paper F3 and cover everything needed to be able to pass the exam well.
Sir I have passed F3 with 70 percent marks. All credits to your lecture THANK YOU
and also how you have helped me with queries that i came across. thank you for that and to open tution too 🙂
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