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Hi Sir,
I’m unable to find videos for examples from 5 to 7 in chapter 10 on website for my reference to the answer. Could you please post it to the website?
Additionally, I think FS for Diana and Liga should be 30 June 2009 instead of 30 June 2016 because the net assets at disposal day (30 June 2009) equal to the net assets at 30 June 2016.
Last question, if Diana had disposed entire holding in Liga on 30 June 2009, how Diana could prepare consolidated financial statements?
Hope that my questions are clear for your understand and i’m waiting for your answers.
Regards
Thank you for pointing out the errors in the dates – clearly 2009 should read 2016 throughout
“Last question, if Diana had disposed entire holding in Liga on 30 June 2009, how Diana could prepare consolidated financial statements?”
If, at any time in the financial year, a company has had a subsidiary, then the investor company (Diana here) shall prepare consolidated financial statements . Why? Because for at least part of the year, the statement of profit or loss will be affected by the trading activities of the subsidiary
The consolidated statement of financial position will be unaffected by the assets and liabilities of the former subsidiary, but those figures in the statement of profit or loss need to be properly shown / calculated
There are no video lectures for those examples – I’m in the process of reviewing and re-recording lectures at this moment but am unlikely to get to F7 in time for December 2017 students
If you have a problem with those examples from 5 to 7 in chapter 10, post your query on this forum and I shall get back to you
Thanks again for pointing out the errors in the dates
OK?
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